Wednesday, March 26, 2008

If Wealthy Consumers Are Using Social Networks Wouldn't BtoB Buyers Be Users Too?

You bet! This report shows some eye popping numbers...if folks making nearly $300K a year are involved in social networking sites it's safe to guess that many in the BtoB C-Suites are starting to participate in this area too.

Advice to BtoB marketers...get involved, test social networks in marketing efforts, try Web 2.0 technology...in short, let's all learn some new marketing tricks!


Social sites gain in popularity amongst wealthy Americans, study finds

According to The Luxury Institute's latest WealthSurvey, the participation of wealthy online consumers in social networks dramatically increased to 60% in 2008, from 27% in 2007. Participation levels of online wealthy consumers in leading social networks are 16% for MySpace, 13% for LinkedIn, and 11% for Facebook.

A national sample of 805 wealthy American consumers, with an average income of $287K and average net worth of $2.1 million, was surveyed online. According to the report:

  • The wealthy average membership in 2.8 social networks, with an average of 110 connections.
  • They are intolerant of opt-out techniques, with 65% saying that having their personal data given out without permission would cause them to disconnect; 63% have an interest in "do not track" lists.

To read more about this report click here.

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