The Interactive Advertising Bureau and Ipsos Mendelsohn, an independent research firm have released a new study Affluent Consumers in a Digital World. The study focuses on the behavior of Affluent Americans – the 21% of U.S. households that have a minimum $100,000 annual income or the top fifth of the country. They represent 70% of U.S. consumer wealth.
It’s an interesting study that reveals that these Americans, with concentrated buying power and generally low consumption rates of traditional media, are the heaviest users of digital media. While Affluent Americans are less likely than the general population to watch TV or listen to radio, they are more likely to own a smartphone, use the Internet and spend more time online.
Digital ads have considerable impact on awareness of products and companies for many Americans, but Affluent Americans are more likely than others to say that they learned about new products or learned about companies they were not aware of before due to digital ads.
Interestingly, this group prefers ad supported websites and are willing to provide more information about themselves in order to receive ads that they find relevant.
According to the study, video, banner, email and search ads are the most effective sorts of digital ads with this group, but I saw no evidence that digital audio ads were even included in the study. The IAB has only recently begun to acknowledge audio as a digital ad type – it’s been about a year since the IAB formed an audio committee (which I participate on) and released A Digital Audio Overview. On September 19th they will host an agency day at their office in New York City and they are making a strong effort to become a good resource for educating the agency and ad communities on digital audio ad opportunities.