The saying, “if momma isn’t happy no one is” should be standard practice in the business world, because if you do not make the female consumer happy, you could be messing with fire. Once you get that fire going, it can be hard to put out as women often talk and share their experiences. One of the biggest things they share is shopping do’s and don’ts. You do not want to be put on the don’t list!
Here is another bit of insight on women consumers today. They are not fully marketed to. If you are not tapping into the 80% of the purchasing power you are not reaching your full business potential especially those who market to what is deemed typically a “male” product such as electronics, vehicles, and sports items. Targeting strictly males on these items is not only stereotyping, but also cutting you out of a lot of revenue that can be had from the pockets of women.
It is said, that by 2010 women will control one trillion dollars of the wealth in the United States. If you think about the previous mentioned 80% of the shopping power and add the one trillion to that, you would be just plain crazy not to try to tap into that market. Women already make up over 65% of the online shoppers and you can expect that number to increase as well. So regardless if you are marketing a storefront or an internet based company, women are the larger percentage of the consumers, period.
When targeting your market towards women, it is not much different then targeting men. When doing so, target your market towards professions, interest, and age. Do not just market by age group. At one time, flash may have been enough the spark the interest of a woman, however nowadays, more and more women are highly educated and a flashy advertisement will not gain the same attention as it once may have. Women know what they want and can no longer be stereotyped as the passive woman who is easily persuaded.
Women demand to be acknowledged as a viable part of the economy. They demand to be approached based on their intelligence and not their gender. They demand information on the product or service they are considering purchasing. A woman does not want her time wasted. Their time is just as valuable as a man’s, so keep your sales pitch to the minimum, be precise and concise with your information, but do not belittle a woman by being to simplistic.