Your Most

Valuable Customer

American Women Are Key Decision Makers

SHE EARNS, SHE SPENDS

She’s an American Woman of 2008. I recently read Marketing to Women by Martha Barletta. I don’t agree with everything in the book, but below is a summary of her key points that I think are relevant.

One thing she and I both agree on is that today the American woman is Your Most Valuable Customer. Women’s lives have undergone radical changes in the past few decades. Most women now work, and most working women also continue to shoulder the bulk of child care and household responsibilities.

PURCHASING POWER

American women spend more money than the Gross National Product of Japan and England combined. Not only does this make women a crucial target for purchases both major and minor, it also underlines the complexity of women’s lives.

Women’s influence over family spending continues to peak. Women have become our country’s expert consumers, and this ensures they will continue to hold those keys for a long time to come.

MARS + VENUS

Yes, we ARE different. Men make MORE, not fewer impulse purchases. Women frequently winnow down a series of options to a couple of final contenders, researching products through word of mouth and the Internet.

Women tend to do more homework than men. Women do more research then men before they invest, are more patient, don’t act as emotionally, and tend to favor more consumer-oriented companies.

For valid reasons, many men can interpret affirmative head nodding as a sign of prospect readiness to close. When a woman nods her head up and down, it does not mean she is agreeing with you. A woman can be nodding her and thinking at the same time, “You just might be the biggest jerk I have ever met.”

45 PLUS

The 45+ woman is worth her weight in gold as a consumer. She’s going through her second youth — this time with money, confidence and wisdom. She’s entering the "empty-nester, wise woman" phase of life with the promise of another 25 years of good health and mobility. She’s looking for adventure, change and new things. She knows what she wants to try, and she has the money to do it.

WHAT INFLUENCES WOMEN?

These days, marketers wanting to get women’s attention have to go much, much further then a simple spot on daytime television. If she’s working, she doesn’t watch TV as often, especially daytime.

Women claim that recommendations from friends influence 54 percent of their purchase decisions and nearly 70 percent of their new product trials. They are very loyal to brands!

WORTH THE WORK

The rewards of fine-tuning your marketing to women are enormous. Women’s personal spending power has never been greater.

Farris Marketing has been focusing the marketing of our consumer clients on the women’s market for some time now. This market is enormous and as yet unrealized by local and regional advertisers. But the opportunity is here and now. Don’t miss it!

Stay tuned and stay smart.

Send your questions and comments to George at consult@farrismarketing.com