Transcript Email from Shelley Rae Norbeck

Opportunity Knocks
Don’t Think Pink
What really makes women buy
and how to increase your share of this crucial market
Women’s Earning Power
Women earn 1 Trillion per year
• 55% of the income in most US households
• Over the past 20 years, US women’s income has
climbed 63%, men’s has…
• 1/3 working wives out-earn their husbands
1987 = 18%
2003 = 32%
Accelerating Trend
• Business ownership and executive positions
• Advancing by degrees (2030)
• Baby Boomer wealth (2020)
Women’s Spending Power
Women spend more than 2 Trillion+ per year
• Household purchasing agent
• She spends both paychecks
• 27% of US households headed by single woman
Women and Business Purchasing
• 49% of corporate decision makers
• 53% purchasing manages and buyers
• 58% wholesale and retail buyers
• Majority of department heads for administration and
human resources.
Powerful Customers
• Word of mouth
• Loyal longer
• Buying for loved ones
• Your marketing partners
Pop Quiz!
What percentage do women buy?
1.
2.
3.
4.
5.
6.
7.
8.
Consumer packaged goods
OTC drugs
Riding lawn mowers
NFL merchandise
Consumer electronics
Home improvement
Computers
Vacations and Travel
What Percentage Do Women Buy?
83% Consumer packaged goods
OTC drugs
Riding lawn mowers
NFL merchandise
Consumer electronics
Home improvement
Computers
Vacations and Travel
What Percentage Do Women Buy?
83% Consumer packaged goods
75% OTC drugs
Riding lawn mowers
NFL merchandise
Consumer electronics
Home improvement
Computers
Vacations and Travel
What Percentage Do Women Buy?
83% Consumer packaged goods
75% OTC drugs
81% Riding lawn mowers
NFL merchandise
Consumer electronics
Home improvement
Computers
Vacations and Travel
What Percentage Do Women Buy?
83%
75%
81%
46%
Consumer packaged goods
OTC drugs
Riding lawn mowers
NFL merchandise
Consumer electronics
Home improvement
Computers
Vacations and Travel
What Percentage Do Women Buy?
83%
75%
81%
46%
55%
Consumer packaged goods
OTC drugs
Riding lawn mowers
NFL merchandise
Consumer electronics
Home improvement
Computers
Vacations and Travel
What Percentage Do Women Buy?
83%
75%
81%
46%
55%
60%
Consumer packaged goods
OTC drugs
Riding lawn mowers
NFL merchandise
Consumer electronics
Home improvement
Computers
Vacations and Travel
What Percentage Do Women Buy?
83%
75%
81%
46%
55%
60%
66%
Consumer packaged goods
OTC drugs
Riding lawn mowers
NFL merchandise
Consumer electronics
Home improvement
Computers
Vacations and Travel
Buying Power!
83%
75%
81%
46%
55%
60%
66%
92%
Consumer packaged goods
OTC drugs (Fast Company)
Riding lawn mowers (ewowfacts and Tom Peters)
NFL merchandise (Women’s Sports Foundation)
Consumer electronics (Consumer Electronics Assn)
Home improvement (Lowe’s)
Computers (Intelliquest)
Vacations and Travel
The Big Question
With two trillion dollars on the “sidewalk,” why
have companies been so slow to pick it up?
A Dismal Pastel History
Brand Positioning Options
• Visible
• Transparent
• Hybrid
Case Study: Home Improvement
What does brand positioning for
women look like in the home
improvement industry?
Pink: Lillian Vernon Toolkit
VISIBLE: Barbara K
TRANSPARENT: Lowe’s
HYBRID: Do-it-Herself Workshops
Positioning Guidelines
• Pink: Pink is a color not a marketing strategy
• Visible:
1) Tailored for body
2) Learning environments
• Transparent: Use her “longer list” as your guide
• Hybrid: Apply visible marketing strategically
Important Question
Are men and women really that different?
Important Differences
The differences concentrated at the heart of marketing
and sales decisions:
•
•
•
•
•
Perception
Preferences
Aptitudes
Behaviors
Communication patterns
Inside a Woman’s Mind
Men Shopping- Left Brain Activity
Women Shopping- Right Brain
Sales Experience Factors In
How She Makes Decisions
MEN
WOMEN
Analyze (take apart)
Synthesize (put together)
Narrow scope
Expand scope
Rank top criteria
Longer list
Floodlight
Laser beam
Prioritize
Maximize
Her double day
• Story: Going to bed
• 75% of women ages 25—54 work
• Household CEO- 25 vs. 13
• Eldercare
Segmenting Your Female Market
Traditional Demographics
•
•
•
•
•
•
Gender
Age
Income
Race
Geography
Culture/Nationality
New Ways to Segment
• Roles
• Life Transitions
• Attitude
Role- Business Women
• Combine personal and biz
buying. 95% home buying.
• Offer service and training
with a personal touch.
• Save time with in-depth
online solutions.
• Acknowledge in fun and
humorous ways their
multiple roles.
Role- Mom
Johnson & Johnson
(Voice over for commercial)
You always went for tall dark and
handsome types. So who’d have
ever thought that the love of your life
would be short and bald?
Having a baby changes everything.
Role- Single Women
• 70 % US women single at
some point in their life.
• Solo US female income
199.3 billion in 2006
(up 20% --2001)
• Intentional motherhood, family
redefined (friends and pets)
• Empowered, not waitingregistry
Life Transitions
•
•
•
•
•
•
•
•
•
•
Graduating from College
First Job
First Home
Married or Partnership
Birth or Adoption
Starting a business
Retirement
Death of parent or spouse
Sandwich generation
Empty nest
Transition Tactics
• Women typically navigate change
• Help her get up to speed (classes, clinics, checklists)
• Personal Touch (Like a good neighbor…)
• Package solutions (Painting Kit)
• Address multiple needs (www.theknot.com)
Attitude
25% US Women are
Adventure Seekers
• Highly engaged with and
connected to other people
• Personal growth top priority
(internal/external)
• Taking classes for personal or
career development
What All Women Want
• Make my life easier
• Make my time more meaningful
• We don’t sell boats…
Reach Lisa Johnson
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