"Marketing to women" has become the new buzz phrase for many companies. Corporations are creating high-level positions with the title of director or VP of the Women's Marketing Initiative; forming Women's Advisory Boards; hiring consultants to help them; and employing and promoting more women.
While these moves may be seen by some as politically correct, there should be a sound business basis for recognizing this influential market segment and trying to capture its loyalty and dollars. How would capturing just 1% more market share impact your bottom line? 3%? 5%? 50%?
Accessing how women are impacting the economy, your business, and the competition's is the first step. As Tom Peters says, "This 'Women's Thing' is...unmistakably, in my opinion...Economic Opportunity No. 1."
Women are wired
"Women spent more on technology last year than men," according to the Consumer Electronics Association. "They are involved in 89% of all consumer electronic purchasing decisions and accounted for more than $55 billion in revenue in 2003." Though this figure continues to spiral upward, more than three-quarters of surveyed women complained about being ignored, patronized, or offended by salespeople when shopping for electronics.
Since 2003, women have been the majority online shopper. It is a myth that only Gen X and Y are interested in technology. Women 55 and older increased their spending online 129% in the last few years.
Determine your investment? Calculate your ROI. Are you getting your share of this market? If not, what are you doing to change that picture?
Travel services matter to women
Take the first step (it's free).
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