If you want to know how to target rich audience on Facebook or Facebook ads, then read on as I show you a secret hack on how to target rich audience on Facebook any time you want to run your Facebook ad.

This Facebook audience targeting method is priceless and it promises to increase your Facebook ad result and boost your business in the process.

Why Do You Want To Target the Rich on Facebook?

According to Statista 2023 report, there are over 2.9 billion active Facebook users every month all over the world. That is a huge statistic if you ask me.

It is logical then to understand that though you have more than enough traffic to advertise your product and services on Facebook, not everyone who sees your ads will have the purchasing power to buy. Especially if your product is a bit exotic or expensive.

You don’t want to run your Facebook ad without filtering off audiences who can’t afford your product.

If you do, you will end up wasting your ad budget because you won’t get sales. That is exactly what you want to avoid as a business owner.

That is the reason why you have to take this guide very seriously and read on.

But if you prefer to watch this tutorial instead of reading, then feel free to click the video below. You will get the same value that I am sharing in this article.

Step By Step Process on How To Target Rich Audience on Facebook

So let’s go over to our Facebook ad manager by clicking FaceBook Business here or go to business.facebook.com

Come here and click Ad Manager

So I will come over to my ad manager and just create an Ad campaign

Of course, I want to assume that you know what to do at the campaign level.

We will actually be focusing our attention at the ad set level because that is where we are to set up our Facebook audience targeting like a pro.

So we can reach out to rich audiences who have the resources to buy whatever it is that we are advertising.

But just in case you want to watch a more elaborate Facebook Ad video, then watch this video below.

I show you how to run a profitable Facebook WhatsApp ad, you will love it!

So now that I assume you know your way around your Facebook ad manager already.

Just go ahead and fill all these fields for yourself. They are pretty straightforward.

I will click the Next button and move to the Adset level, This is where I will show you how to target rich audience on Facebook ads.

Ad set level

Again, go ahead and fill in these fields in your adset level.

We are concerned here with how to target rich audience on Facebook, so I will go down to the audience targeting option here.

So to set up ur audience targeting so that your Facebook ad can only be shown to the rich Facebook users, click the Optional Audience Suggestion option.

For age, I will just use 23 to 65 years and above. Feel free to choose yours.

I will leave my gender on the default “All”

Now, here at the detailed targeting, there are 2 ways I can go about this; I want to believe that you already have an idea of the kind of keywords you originally want to use to target your market.

So for instance, I just launched my Google My Business Course that teaches you how you can get between 5 to 50 new customers to your business from Google every day.

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So, let’s say that I want to run a Facebook ad to sell this course to business owners. But this time around, I want only rich business owners who have the money to pay to get this course to be the only ones to see my ad, I will go ahead and do the following:

1. I will come here and as you can see, it says “Include people who match”. I will simply pick a general keyword that describes my business’s targeted customers. In this case, I will choose “small business owners”
2. After that, I can go ahead and click the Suggestion option here

So I will go ahead and pick just about 2 more descriptive keywords that are relevant to my original option

Alright, I think these two are just good to go.

Now, If you come here to the side

Facebook shows us the estimated size of the audience that we will be targeting with these selections.

For me, this number is quite large. But, it is good for the method we are using for this Facebook ad targeting.

So now, the next thing I want to do here.

This is what I will do if I want to know how to target rich audience on Facebook.

I will select only the rich people within this estimated audience size. Soon, you will expectedly see that the estimated targeted audience will reduce.

So, to do that, I will scroll down to this option that says DEFINE FURTHER. I will click it.

As you can see here, it says: “and must also match”

So what this place is saying is that our ad will be shown only to people who match the above criteria. Those criteria must also match this new set of criteria that we are about to set.

So, our audience must fall within both criteria before our ad can be shown to them. This is exactly what we want to achieve here! It’s an amazing way to filter off audiences that we don’t desire to see our ad.

So here, we want to tell Facebook to target people within the first criteria but who are rich enough to afford our product and service

So the first keyword I will use to select rich Facebook users who are business owners is

1. Luxury vehicle

I will now enter this criterion “luxury vehicle”

You can see that my estimated audience targeting has reduced significantly. So now, we are not only targeting business owners, but we are making sure that these business owners are people who can afford to buy luxury vehicles or at least have an interest in luxury vehicles.

The assumption here is that such character is mostly common with people who can afford luxury. That is a character of rich people.

Can you see the idea here?

You want to know how to target rich audience on Facebook? This is one huge tip for you!

Now, using this method, I will always watch my estimated audience size to guide me.

The idea is that I want to keep reducing this size until I have gotten a size that I am most comfortable with.

4 million plus is still a large number, so again I will reduce the size further.

Again another keyword to use to target rich people is something like “Luxury goods”

So I will click DEFINE FURTHER again and select luxury goods

Again, my estimated audience size has been reduced a little more.

But I really want to have something between 700,000 and 1 million estimated audience size.

So I will go for another keyword to target rich audience

DEFINE FURTHER

So I will search for FREQUENT INTERNATIONAL TRAVELS.

This is another good one and I expect this to reduce my audience size quite significantly

So now I have about 1 million audience size. They are super targeted towards rich business owners who have an interest in luxury cars, and luxury goods and who are very likely to be engaged in frequent international travels.

So if you like, you can keep reducing your estimated audience size with this technique until you find your perfect number.

I did use another keyword “Engaged shoppers”

These are people that in addition to having all the behaviors that we have filtered already, also have the character of loving to buy things online.

Obviously, that’s another very important character that will be perfect for our ad targeting.

You can see here that just this last keyword has reduced our targeting to about 400,000! that’s massive if you ask me, but also very amazingly detailed!

So at this point, the option is left for you to decide. If this was your original audience estimation in mind, then you have done yourself a great job and then you can go ahead and finish up your ad setup

Conversely, if I think this audience size is too small, then I can either remove some of the narrow targeting options that I have used already

For instance, if I remove the Luxury goods, you will notice that my audience size will be increased a little more.

Another thing you can do to increase your estimated targeted size is to go back to the detailed targeting option and add more targets. I don’t always prefer this because usually, my rule is not to target more than 3 targeting options for a single ad.

But really, the option is yours to take, depending on how you want your ad campaign to go.

But what I have demonstrated already did justice to how to target rich audience on Facebook. This is so effective if you give it a go.

Go Ahead, Complete your Ad Setup

Once you are good with your targeting, you can go ahead and click next to set up your ad at the ad level

If you have any questions, then feel free to drop them in the comment section, I will read every one of them and give you my best answer.

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