Discounts Don’t Drive Wealthy Social Users to Follow Brands, Says Study
Wealthy social media users typically don’t follow brands for discounts and coupons, according to a study by The Affluence Collaborative. The findings are noteworthy because most studies have suggested that the average Facebook Joe or Jane follows brands for the discounts, deals, and freebies. So what does drive the affluent to follow?
- 52% of social media users who earn more than $500,000 follow a brand because “I love the brand and want to follow it.”
- 29% of users in the $500K set follow a brand for the discounts.
- 39% of those making at least $200,000 reported following brands for deals and discounts.
- In contrast, 44% of the general population follows a company for deals and discounts.
Loyalty vs. Discounts
So where do your customers fall…are they loyal brand fans or do they want the deals? The measurable way to get that insight is with online intelligence. Your target audience is on social networks and customer review sites—right now—sharing what they want. Are you listening?
For more details about the study, check out Helen Leggatt’s article on BizReport.