Affluent media consumption: 2009 Survey

According to Mendesohn’s 2009 Affluent Survey, luxury professionals who believe printed publications are either ineffective or not valuable in reaching potential buyers (and sellers) are missing a large segment of their targeted demographic.

Below is a proof positive that the printed publication and the internet are exactly where the affluent consume media. In fact, the data compiled points to an apparent rise in consumption of both mediums as the household income rises—take particular note of the Average Number of Magazine Issues between the incomes of $150,000 – $249,000 to $250,000 and above.

Mendolsohn Affluent Survey - 2009

Mendolsohn Affluent Survey - 2009

If you’re like me, you probably want to know how the statistics are compiled, who they asked, in what setting did they ask it, etc. I’m almost always skeptical of this—graphs, statistics, pie charts, etc.—especially when they are used as an absolute measurement of proof. This is, in part, why internet marketing can and is so effective. When you advertise on the internet, you can tell exactly how people got to your site, how long they spent on your site, what they clicked on, and where they clicked when they got there, and where they left. {see why Google is a multibillion dollar industry now?}

Alas, I’ve read this report and its methods twice over and gone to the site to ensure credibility. IMHO, it is. Also, IMHO, it is proof positive that if you’re living in a home, selling a property, selling a luxury anything, it’s likely that this demographic of consumers is reading a magazine and online. Further proof of this—Top luxury marketing strategies.

Again, print is not your local real estate guide that you grab as you leave the supermarket. Print, in this case, is a particular medium that not everyone has access to. These people have their laptop, their iPhone (or blackberry) in their pockets and a select few of publications which cater to their lifestyle and the people they associate with.

*Incidentally, it is also worth noting that the 2009 Mendelson survey points out on (page 28) this fact:

To the surprise of some marketers, 98% of the affluent use the Internet. Affluents are truly “wired” and presume access to the Internet to be an integral part of their daily life. They have both the mindset and the means to make the Internet a driving part of their affluent lifestyles.

Good to know. Print is not dead. At least not for the über-wealthy.

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