Welcome to the New Year! It’s the time for resolutions and turning over a new leaf—and why not start by evaluating your marketing budget? Smart companies know that to be effective, they have to put together a strategic effort that delivers their message to women in a comprehensive way. But comprehensive is a big word; there are dozens, if not hundreds of opportunities to improve what you’re currently doing and to add some terrific new marketing to women initiatives. No one has the budget or the staff to do it all. So, where do you start, and how do you figure out where your money will do the most good?
It’s important to keep in mind that in most categories, marketing to women—like marketing to men or marketing to anybody—is essentially a market share game. Women are already buying most of the cars and most of the personal computers—the goal is to get them to buy your brand of car or insurance. So, the answer to the question, “Where will my marketing budget do the most good in 2015?” is to know where your brand stands in the marketplace relative to your competition and to be clear about what you’ve got to work with.
You can usually get a good idea of this fairly quickly— Just do the Situation Scan. Why not make starting it a goal this week?.
The Situation Scan
Here’s the methodology I use with TrendSight Group clients:
The concept is simple, and so are the results you’re looking for:
- How do the operations elements of your brand compare to your competitors?
- How do your marketing communications compare when assessed against the four key criteria of female gender culture (Social Values, Life/Time Factors, Focus Strategies and Communication Keys)?
Get your team thinking about your marketing to women situation and scoping out your competition. The market is there, just waiting for you to earn your share!