If you are not marketing to, designing your campaigns around or on “those” platforms, then you are missing out on serious opportunities.
Which market am I referring to – the FEMALE market!
- Women are earning, spending and influencing spending at a greater rate than ever before. The facts are
- Women account for $7 trillion in consumer and business spending in the USA
- It is predicted that in the next decade women will control two thirds of consumer wealth
- Women make or influence 85% of all purchasing decisions
- Women purchase over 50% of traditional male products including cars and home improvement products
It is therefore imperative that all businesses recognise the power and influence of women and prioritise their marketing efforts to this dominant demographic.
The first step in this process is understanding “What Women Want”. Impossible!!!
Ok let me rephrase – you need to research:
- What motivates women’s purchasing decisions?
- Who influences women’s purchasing decisions?
- Which social media platforms are these women on?
- When are these women on-line?
Let’s look more closely at two core sub-sets of the female demographic
1. Mum Power
- Mums represent a $2.4 trillion market
- 90% of mums are online vs. just 76% of women in general
- 64% of mums ask other mothers for advice before they purchase a new product
- 63% of all mothers surveyed consider other mums the most credible experts when they have question
2. Women On-Line
- 78% of women in the US use the Internet for product information before making a purchase
- 22% of women shop online at least once a day
- 92% pass along information about deals or finds to others
- The average number of contacts in their e-mail or mobile lists is 171
- 76% want to be part of a special or select panel
Is this information ringing some alarm bells in your current marketing strategy?
This is not meant to be a feminist statement but when it comes to successful marketing strategies and strategists – Women Rule!
If you need some assistance with your social media strategy either ask a woman or drop me an email – email@example.com (yes, I am woman)