Biddable media channels, such as Paid-search ads, Google AdWords and Native ads are proven ways to generate lead-traffic. It doesn’t always require a vast budget, because a well-researched campaign can create high-quality, affluent leads into your sales funnel – at a sensible return on investment.
Are many high net worth clients online to see these ads?
It’s a misconception that the older generation of HNWIs do not use the internet or digital devices. They are often investing in new technology to stay up-to-date with: trends and opportunities, their online banking, checking their investments online and connecting with their family & friends.
“The UK’s richest 1% are more switched on digitally than their peers and many opt for mid-level goods over upmarket alternatives, so brands may need to realign their thinking in order to target this group effectively.” – Mindi Chahal – Marketing Week
Will I need a huge budget to start a biddable channel, like Google AdWords, for HNWIs?
With biddable media channels, the budget required relies on factors such as the entry-level of your product or how niche or broad your product/investment is.
With a broader and wider searched for item, spend, unless capped can go through the roof, but when capped may not even scratch the surface.
Careful, strategy planning is key, and the budget can be allocated smartly:
- Specific times of the day
- Niche, not too broad, keywords
- Regionally targeted
Be careful not to put all your HNWI lead-gen eggs into one basket
As we know, most of us search online for a solution to our wants, PPC, Google AdWords, any type of “paid search” platform is absolutely key, as these potential customers, will come through with real intent. It’s areally complementary lead generation channel to run alongside your other lead-gen platforms, content, SEO and PR efforts – it’s a great way to bolster a campaign at the start too.
However, it is worth noting, digitally savvy HNWIs won’t always trust a paid ad over an organic search listing, therefore you may lose some of an already limited audience.
That’s why knowing when a PPC campaign has reached its limit is very important and to remember this when scaling a biddable marketing channel, as cost-per-lead and cost-per-acquisition can increase, andquality of the leads you are used to can overall diminish if youtry and scale-up sizably, or too quick on one platform.