[Tutorial] How to Target High Income Parents Using Facebook Ads

The top 10% of American households have an out-sized effect on the U.S. economy. They contribute to nearly one-third of U.S. GDP ($7 trillion a quarter) in terms of spending. (Business Insider) If you are an entrepreneur who wants to sell a product or service to high-income households, the following tutorial will walk you through how to create audiences for them in Facebook Ads.

The primary focus will be on how to create an audience in the Business Manager that can be used when making ads in the Ad Manager. It will not walk you through how to create a Facebook ad as there is plenty of information out there on how to do so. The reason I focus on how to create targeted audiences is because most people end up spending a lot of time on creating ads and not targeting the right audience, resulting in poor clicks or conversions. (This is in part, Facebook’s fault because they have historically separated the audience module from the ad creation module.) The trick to creating high-performance ads on Facebook is to first target the right audience.

Note: This walk through assumes that you’ve got your Facebook accounts set up properly and have conversion tracking set up through a Facebook Pixel. If you don’t, you need to go set those up first.

Step 1: Log into Business Manager

In order to effectively use Facebook Ads, you’ll need: (1) a personal Facebook account, (2) a fan page for your business, (3) a Business…