INSIGHTS
from this side of the desk
8 Important Tips for Successfully Marketing to Women
04/30/2010"Hitting The Mark", in the April 19, 2010 edition of Marketing is an absolute must-read for marketers communicating with women.
Take a deep breath and look at these numbers, recently released by The Boston Consulting Group. They estimate that women control twelve of the world's eighteen point four trillion dollars in annual consumer spending. In Canada alone, women now purchase 68% of new cars, 56% of home computers and 51% of consumer electronics, according to Stats Can.
Here are a few tips author Kristin Laird recommends to demonstrate your company's understanding of this lucrative market segment.
1. KNOW WHO YOU'RE TALKING TO
Understand what is going on in women's lives and don't market solely by age. Research their stage in life, since many women feel marginalized by advertising that lacks insight.
2. INVITE HER TO JOIN YOUR BRAND
Women need to feel part of something. They enjoy being part of a special club and being engaged. So don't hesitate to say, "Come join us."
3. UNDERSTAND THAT MEN AND WOMEN SOMETIMES WANT THE SAME THING
Marketing to women is not about male versus female, it's just another way of looking at data. An example is the home improvement business, traditionally thought to be a male bastion. According to a Home Depot survey, 80% of women now do their own projects because it instills pride and saves money.
4. MAKE HER FEEL COMFORTABLE
Never assume a women knows less than a man! Speedy Corporation surveyed their women customers and discovered that 43% feel they received worse car repair service than men and even believed that they are quoted higher prices.
5. HELP HER GIVE BACK
Women appear to be naturally philanthropic. Successful brands make it easy for women to donate to a cause with such tactical promotions like donating a percentage of sales to a charity.
6. DON'T SHRINK AND PINK IT
Don't assume you'll be successful by "feminizing" your product. Dell computers crashed and burned in 2009 with their new line of computer accessories that emphasized counting calories and finding recipes, ignoring tools and advice in actual technology. Women were outraged at what they called "condescending" marketing.
7. IT'S ALL IN THE DETAILS
Women love information! The more the better. Explain the product and extol its benefits. Women embrace innovation and enjoy learning about new products.
8. BANK ON YOUR FEMALE CONSUMER SO SHE'LL BANK ON YOU
A whopping 90% of women in their 40's feel banks intentionally complicate financial matters. With women remaining single longer, banks need to connect with this powerful market. Financial institutions tend to hold to the old seminar idea, although women prefer a more relaxed environment to garner knowledge.
We'd love to hear from you. If you have any comments on this topic, please forward them to Janice Johnston at jjohnston@adcomcommunications.com.