Understand Female Buying Habits and Increase Your Home Business Brookings SD
Rapid City, SD
Rapid City, SD
Sioux Falls, SD
Rapid City, SD
Understand Female Buying Habits and Increase Your Home Business
Why you Should Focus More on Marketing Towards Woman
By Ross Shafer
If you are losing your market share or not meeting sales projections, chances are you aren’t relevant to the most important sex.
Women. Women. Women.
So much has been written about the powerful female consumer you would think the “men folk” in your organization would realize women are the root of all profits. Yet, still so many companies live in denial that women account for over 80 percent of all consumer purchases. How can anyone ignore that the $5 trillion women spend annually is staged to gobble up new homes, healthcare, consumer electronics, investment advice, automobiles, vacations, bank accounts, and do-it-yourself projects? In fact, their financial heft is so significant that any business would see an instant spike in revenue if they adopted a “no-more-marketing-to-men” attitude.
Women Complain For a Reason
Research indicates that of 1,000 random complaints, more than 80 percent were written and registered by women. When the transaction goes badly, they get mad and stay mad. Their complaints register words like “embarrassed,” “helpless,” “out of control,” “hurt,” “crushed,” and “rejected.” Those are the same words many would typically use in an intimate, loving relationship, and that’s because women don’t differentiate a personal interaction from a business event; business is personal and emotional to them.
Women Started Viral Marketing
Not only do women tend to complain about the perpetrator, but they also tell everyone else about the experience. Faith Popcorn, author of, “EVEolution — Understanding Women,” says that the average satisfied female customer will recommend a service, shop, or client to 21 other people. Since women speak an average of 20,000 words a day — vs. a man’s 6,000 — women were indeed the first “viral marketing” machine. Therefore, when women have a good feeling about your company, it can create a vast army of female unpaid spokespeople for you. Can you do better than that with traditional marketing?
Women Are More Loyal Customers
If you make an effort to understand the emotionality of a woman’s purchase, she will start to form a relationship with you. This is critical because an emotional bond is the only factor that breeds true loyalty; not “favored customer cards,” not reward points or discounts, not even repeating their name in a friendly manner. Women don't want “service” from you, they want empathy. They want to be understood. Once women feel you have understood and appreciated them, you have not only a loyal customer, but a referral engine as well.
Offend Women and Die!
When you scorn or offend women, look out. Consider the detrimental effects to the Tom Cruise movie, “Mission Impossible III.” It was largely thought to be the best film of the trilogy, yet when Cruise blathered in the press insisting his then-girlfriend Katie Holmes have a “silent birth” as prescribed by Scientolo...