Marketing to women will deliver more bucks to your bottom line than putting the same budget against an all-male target. Consider the following trends and facts found in today’s marketplace:
- The sales potential of the “women’s market” is enormous and on a steep upward trend. Earning and spending trends increases are just the tip of the iceberg. As women continue their advances in the workplace, they are acquiring more disposable income. Women also control the majority of all household spending, and have the “final say” on major purchase decisions, such as cars and home renovations. As Baby Boomer women receive inheritances, first from their parents, then from their husbands, more and more buying power will accrue to women’s wallets.
- Women are more profitable customers than men. Women are more loyal customers than men, making every follow-up marketing and sales dollar more efficient. Also, women’s word-of-mouth and referrals constitute inexpensive marketing of the most powerful kind.
- Effectively targeting women leads to higher customer satisfaction among both men and women. Companies as diverse as BMW, Wyndham Hotels and Merrill Lynch have found that improvements designed to enhance brand appeal among women actually deliver greater customer satisfaction among men, too. When you meet the expectations of women, companies exceed the expectations of men.
- Marketing to women delivers a better return on your marketing dollar through both greater opportunity and greater impact. While in many categories the traditional male targets are saturated, the corresponding women’s segments are untapped and virtually uncontested by competition.
The largest, fastest growing market in the world is waiting. Worldwide, women control consumer spending. They are accumulating income and investable assets as never before in history. And, they’re expanding their decision-making presence in corporations and small businesses.
The business is there; the real question is: Are you?