One of the most powerful use-cases for online advertising is the use of existing customer data to expand your business’ market share. Your current customers all have one crucial thing in common – they were all willing to pay you. No, this shouldn’t be groundbreaking news. And yet, it gives you the best starting point for who to target for future online advertising campaigns.
There are a number of ways to go about targeting people similar to current customer email lists on AdWords and Facebook or use demographic data to hone in on the right audience: gender, location, past purchasing behavior, device, and much more. You can also segment your target audience based on his or her income bracket in AdWords.
Why would I want to target income levels in AdWords?
The data doesn’t lie. There are certain common traits among people that make them more or less likely to make decisions. People from Wisconsin are more likely to root for the Packers. People who make over $1,000,000 per year probably have different purchasing behavior than people making median income levels.
Even if you don’t know the income levels of your current or past customers, you can add this type of targeting anyways and follow trends as your campaigns run. You may find key trends that will allow you to allocate 100% rather than 16.7% (1/6th) of your daily budget to the highest performing income bracket. Here’s how to do it.
What Income Brackets can you target in AdWords?
- Top 10%
- Lower 50%
How to Set Up Income Based Targeting in AdWords
- From the tab view, select the campaign that you would like to set up income-based targeting for
- Click the tab
- Beneath Settings, click
- Click the button
- Click Advanced Search
- Above the Search Bar, click on
- From the dropdown select
- Beneath that, you are given 6 income brackets to choose from the
- Top 10%
- Lower 50%
- Then enter the different regions where you would like to hone in on certain income brackets. For example: if you would like to target the Top 10% of people in Western Australia, type Western Australia, Australia.
- Click once you’ve added all the locations
How to Optimize and Make Bid Adjustments for Certain Income Levels
Once you have a statistically significant amount of data in your campaigns, you should be able to see trends across income levels. Go to
- From the view in #3 above you should see a column
- Click next to the location where you would like to increase or decrease bids
- Type the percentage increase or increase into the bid entry box
Making bid adjustments based on income allows you greater control over how you attack different demographics on AdWords.
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