Whether you market to businesses or consumers, improving the way you market to women will have a dramatic impact on your bottom line.
Women influence nearly 80% of all consumer goods purchases. According to Entrepreneur Online:
Saving time, offering convenience and providing good service are paramount considerations for most female shoppers. Because three-quarters of women ages 25 to 54 work full or part time while remaining largely responsible for their households, they appreciate businesses that help them save time when shopping and products or services that make life more convenient. Savvy retailers adjust their store hours and locations to meet the needs of their customers.
The trend doesn’t stop with consumer goods. Women have a huge impact on the automotive industry. From AOL Online:
Women have become increasingly influential when it comes to the automotive world, in everything from car design to advertising campaigns to what happens when you show up at the dealership. So what do women really want when buying a new car? And how are automakers responding to this turning tide?
According to Marketing to Women author Marti Barletta, women seek more advice from an auto authority (57%) before buying a new car; they spend more time in the purchasing process than men (17 weeks versus 15) and women shop at an average of three dealerships for best price and treatment.
Bernice Ross from Inman News says that single women are today’s prime real estate niche:
Women are rapidly becoming the silent majority in the real estate marketplace. While everyone pays attention to the needs of the “typical family,” very few people are addressing the specific needs of single female real estate buyers and sellers.
Which of the following groups buys more condominiums: married couples, single men or single women?
The answer is single women. Not only are single women buying more condominiums, NAR reports that 22 percent of all home purchases are made by single women as opposed to only 9 percent for single males. In other words, single Gen X and Gen Y women are buying more than twice as much real estate as compared to Gen X and Gen Y men.
The bottom line…women wield the influence. Smart marketers know this, and are developing ways to make their marketing women centric.
Chris Mitchell is the President and Founder of 25-8 Marketing, Inc, a full service advertising agency in Elk River, Minnesota. He plans and implements marketing programs for small to medium-sized businesses. Mitchell is a consultant, speaker and author and has worked with hundreds of companies. He has over 20 years of real-world advertising experience, and understands the marketing challenges of the small business owner.