Statistics show that women influence 80% of all spending. Here are three more stats—
- Women control 51 percent of the wealth in the United States.
- One in four women out earns her husband.
- Women represent the majority of online purchasers.
If you are ignoring or approaching your marketing without thinking about how women buy or the power they hold, it may be a huge area of opportunity for your business.
I’m sure you have probably heard or maybe even read the book “Men Are from Mars, Women Are from Venus,” by John Gray. In the book it offered suggestions on how to improve relationships between men and women because we both come from “different planets”. One major conclusion reached is that men think linearly and women think spatially. What I mean by this is that women use emotional, spiritual, mental and physical energy in their thinking. Because of this women are great at detecting inconsistencies. Men, on the other hand are more logical and fact-based in their thinking, using mainly mental and physical energy. They don’t tend to pay attention to their feelings or senses as much as women do when making decisions.
Here are some important differences to keep in mind that may help—
- Men are more independent and will make decisions on their own (linear).
- Women like to connect with others, share their feelings and get other’s feedback before making a decision (spatial).
- Getting bargains or being a shrewd buyer is a badge of honor for a woman. She will check things out, compare prices, ask around and get the best deal (spatial).
- Men are more impulse buyers. He needs it, he buys it. Many times regardless of cost (linear).
- Women are much more verbal than men. They will talk about experiences they have had with products and share the good, the bad and the ugly with their friends and associates.
- Men are more interested in the features of a product and how the thing works (linear).
- Women are more interested in the benefits of a product and how it will help her and her family (spatial).
- Women take in much more information to process a decision. She will use all of the sensory available to make a decision. She will notice if an establishment is dirty, what maybe going on behind the scenes, whether there is a funny smell, how the employees treated her and made her feel, etc. She will also remember all these details, both pleasant and unpleasant and relay them to her friends and family.
How You Can Leverage this Information to Market to Women
When you take all of the above into account, here is what you can do now to be more successful in your marketing efforts towards women:
- Make sure you are providing great customer service in an empathetic way. For instance, a real live human answering the phone is much better than an automated recording.
- When demonstrating your product or service point out what it will do for her versus how it works. Saving time is something most women want more than anything. If your product can do this for her make sure you let her know.
- Your female customers are probably your best referral sources since they love to connect with others. Enroll them in referral and loyalty programs.Get testimonials from them.
- Do not patronize her. Treat her with the same respect you would a man.
- Sweat the details. Make sure your place of business is clean, has no offensive odors or noises, employees are presentable and competent. Make sure your marketing message matches your product’s performance and buying experience.
- Ask for her feedback. This could be invaluable to your business and will make her feel important.
If there are ways you are marketing to women specifically I would love to hear about them. Please share your comments below.