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.
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!
A HUGE part of selling to women is powering women’s word of mouth and earning referrals. My advice for earning referrals from women will surprise you! Don’t offer incentives or ask bluntly– surprise and delight!