In my marketing to women keynote for Kodak, see how one bank evolved from “facts and figures” marketing to compelling advertisements that appeal to women. Marketing financial services to women is a particular area of interest to me– since women will soon control most of the wealth!
Women already buy the majority of products in almost every category. They are responsible for 80% of consumer spending.
So what’s the point of marketing to women? It may seem redundant. Surely marketers couldn’t be doing such a terrible job, or women wouldn’t be buying anything at all.
2 Reasons Marketing to Women Will Boost Your Brand
Marketing to women is about two main factors:
To gain share with women. Motivate women to choose your brand instead of your competitors’ brand. Marketing to women will help you build share.
To enhance your profits. Women are more loyal customers, which means they make repeat purchases and actively spread word of mouth. Because women have a long decision-making process, once she makes a decision, she wants to stick with it and build a relationship with your brand. Also, because she believes so strongly in her decisions, women’s word of mouth is phenomenal. In fact, I say that Women are Referral Megaphones!
Currently, women purchase many brands through necessity or chance, because these brands don’t support her decision-making process or appeal to what she cares about during the sales cycle. Even if you have a high market share among women now, marketing to women is important for your brand. You never know when a clever competitor could come along and offer your women customers the Perfect Answer they’ve been seeking.
Marti shares a marketing to women case study of Best Buy’s experiment with women-friendly store formats– and how the results were stunning. This video excerpt is from her marketing to women keynote speech to Kodak.
When you’re selling financial services to women, it can be easy to miss who controls the finances behind the scenes. In affluent families, control of wealth and finances may not be as straightforward as it seems. Marti’s story of one affluent Boomer couple reveals that women often have “hidden” financial control.
Have you ever wondered why word of mouth spreads faster with women? Marketing to women expert Marti Barletta explains how women’s emphasis on the personal make them the perfect referral source. Once financial planner says his women clients send him, on average, 26 referrals. His male clients only send him 2! What a difference!
Women rate the investment industry last in a list of 58 categories. Whoah! There’s a problem here. And it starts with what women think about most sales meetings they have with financial planners. Watch my video to improve your selling to women skills!
Boomer women are the reason there are so many women earning their way into the high-net worth bracket. Boomer women are the most radically different generation of women in history. Really! Watch to see what this means for marketing to women– and especially selling to affluent women.