women’s purchasing power

Missoni Mayhem: Poor Planning or Poor Marketing?

Poor Planning or Poor Marketing Strategy?

Yesterday Target launched a much-anticipated collaboration with Italian luxury design house Missoni, adored by fashionistas everywhere. But three hours later the Target.com website crashed, and soon after the entire line was sold out everywhere. Today a Target spokeswoman revealed that the Missoni mayhem was unprecedented, and that goods will “continue to trickle into stores.” Other store managers around the country are noting that they are not expecting items for weeks.

I’m a loyal Target fan, and not only does this not sit well with me, it apparently isn’t sitting well with other female shoppers, who are relentlessly tweeting “Bummed,” “WTF” and “Pissed.” If Target knew it had just a limited supply of merchandise, why spend so much time and energy building the overwhelming buzz on social media sites and in traditional media? Shouldn’t they have been better prepared?

So my question is: Was this poor planning on Target’s part, or a clever marketing stunt? Has Target damaged its relationship with its loyal female customer base, or managed to build even greater anticipation for the collection?

What do you think?

Reaching Women Through the Blogosphere

This spring, BlogHer partnered with Compass Partners to do a social media benchmark study of more than 6,000 women. The results provide an interesting peek into the social media mindset of women:

According to the study, 36.2 million women actively participate in the blogosphere every week. That’s about 15.1 million actually writing blogs, and 21.1 reading or commenting on those posts. Many of these women are so passionate about blogging that large percentages of women said they would give something up to keep the blogs they read and/or write:

– 55% would give up alcohol

– 50% would give up their PDAs

– 42% would give up their i-Pod

– 43% would give up reading the newspaper or magazines

BUT, some things are sacred … only 20% would give up chocolate!

Additional survey results include:

– 24 percent of women surveyed said they watch less television because they’re spending more time blogging

– 25 percent said they read fewer magazines because they’re blogging

– 22 percent said they read fewer newspapers because they’re blogging

– More than half of women surveyed consider blogs a reliable source of information

– Half of women surveyed said blogs influence their purchase decisions

Smart marketers are building relationships with their female consumers through the blogosphere.

Check out the full study here!

The Marketing Muscle of Women

Women Have Buying Power I was in a new business meeting the other day where I was discussing the immense marketing muscle of women with a brand manager. This brand manager (a man) chimed in that he didn’t necessarily buy it — he wasn’t so sure that women had the buying power that they actually do. Which might explain why his brand (as great as it is) is languishing.

I walked out of the meeting more than a bit frustrated at his assumption that his point of view was the right one. Especially since it was so wrong.

When I got back to my office, my website home page (my screen saver) was staring at me. And so I read it. The facts about the power of women as consumers are indisputable. Their collective buying power exceeds the economy of Japan. They control more than 60 percent of the personal wealth in the U.S., and account for 68 percent of all total online spending.

According to Tom Peters, one of the world’s top marketing gurus, women are the top marketing opportunity for the foreseeable future. And it’s a scientific truth that women and men see and interpret things differently – because their brains work differently. But the reality is that if a product or brand meets the needs of the women, it also exceeds the need of men. Smart marketers understand this, and are willing to look at new ways to translate their brand’s marketing messages to reach this key consumer.

So here’s the skinny: women DO make 85% of all consumer purchasing decisions. Women DO feel that marketers don’t understand them. Women DO account for $7 trillion in consumer and business spending, which is a lot of buying power. The savvy marketer (and successful brand manager) knows this.

90% of Female Bloggers Want to Work with Brands: Is Yours One of Them?

Female Bloggers Want to Partner with Brands

In a recent study by BlogFrog and The Social Studies Group, 93% of U.S. female bloggers indicated that they would like to engage and work with brands, but well over two-thirds of them reject over half of the pitches they receive. The 2011 Brands and Women Bloggers Influencer Partnership Study reveals some key findings about the ideal relationship between brands and bloggers from the female blogger perspective, including:

Nearly 60% of women bloggers indicate they want long-term, deeper relationships with a few special brands.
Compensation matters. 90% are interested in working with brands, so long as there is some form of compensation.
Social good matters. Campaigns that include an element of social good increase trust levels for 56% of bloggers surveyed.
70% of bloggers trust a brand more when that brand is promoted or recommended by someone they know from a blog or social media.
87% of bloggers said personal feelings about a brand will influence whether they work with that brand.
Brands like Purex, Disney, Kraft, Silhouette, Proctor & Gamble, and CSN were given high marks for their blogger relations.

Long Term Relationships with Female Bloggers Are Essential

While nearly all of the bloggers surveyed (88%) say that they have not had a negative experience working on a brand campaign, 12% of unhappy women bloggers cited lack of campaign organization, inadequate compensation, and more work than expected as the top reasons for the negative experiences. As marketers continue to look to forge relationships with bloggers, they need to establish long-term relationships with these bloggers and understand what’s important to them:

Female bloggers don’t want to feel they’re just a name on a list. Brands need to reading their blog posts, comment on the blogs and engage in the conversation happening online.
Not all female bloggers are mom bloggers, and not all mom bloggers are the same. Some are professionals, and some are hobbyists. Know the difference.
Provide products to review when asking for a product review. More and more bloggers are being contacted by PR professionals offering to “walk them through the product” or providing “the information you need to write a review.” Understand how the product review process works. Rarely will a blogger risk her reputation and personal brand to endorse a product she hasn’t experienced.
Make your brand and its representatives fully accessible online through the use of social media, branded communities, conversational marketing, and corporate blogs.

How does your brand rate in its ability to connect and build a relationship with key female bloggers?

The Buying Power of the Power Moms

Buying Power of Power Moms

Moms Have Buying Power

Anyone who reads my blog on a regular basis knows that moms are the most coveted consumers in the U.S. market. Their buying power tops $2.4 trillion annually, and they control or influence 85 percent of all household purchases.

Maria Bailey has written a new book called Power Moms that delves into that power of moms. In her book, Bailey acknowledges that mom bloggers are powerful influencers. However, she notes that these bloggers are only a small fraction of the 83 million mothers in the U.S. Which means that marketers reaching out to mom bloggers are leaving a lot of moms untouched – about 70 percent of them to be exact.

Power Moms Have Influence

Power Moms (those influencers that align with a brand’s goals and marketing needs) can be reached by marketers both online and offline. Moms tend to build their sphere of influence around a personal passion – whether it be cooking, entrepreneurship or service to others. The challenge for marketers is to identify that group of moms that aligns with their particular brand’s goals and needs, and then to have the knowledge, awareness and ability to tap this powerful and lucrative market.

Marketers: Does your brand reach moms in a way that is relevant to them? And moms: Do you find that most brands engage with you in a way that makes you feel understood?

Embracing My Inner Hippie : A Woman’s Life Stages

Embracing My Inner Hippie - Flower Power If I continue at this pace, I might be a full-fledged flower child by 2014. It’s been a slow transition but a clear one: I’m turning hippie. I promise you won’t run into me in the grocery store barefoot, with my floppy suede hat and bell-bottoms. No, that’s not what I mean. What I do mean is that I’m beginning to embrace something that perhaps was there all along.

My 20s and 30s were a time of accumulation. High-end home stores and high-end shoe stores were my BFFs. I had more than I could possibly use or wear. But as I moved through my 40s something kind of wonderful happened –– my world and priorities shifted. I became more comfortable in my own skin and I needed far, FAR less to make me happy. I must say, I’m truly enjoying this chapter of my life.

What does all of this have to do with marketing to women? Simple. It’s about marketers understanding a woman’s life stages, instead of the stereotypes of her chronological age. It’s about effectively speaking to her based on where she’s at in her life, and not by the date of birth on her driver’s licence. The same marketing messages that are used for women in their 20s and 30s aren’t going to work for me. I need less, I want less. But I have the money to spend on what is important to me. So, marketers take heed: this hippie has a fat wallet and a new way of thinking.

Why VW’s Super Bowl Ad Struck A Cord With Moms

One of the most popular ads shown during last week’s Super Bowl was for the 2012 VW Passat. You know, the one with the child dressed up as Darth Vadar trying to use “The Force” while the Star Wars score plays.

This commercial tugged at the heartstrings of millions of parents whose children have run around their homes flailing their light sabers. I know, because I’m one of those parents. Once upon a time I had a son that age who wore the exact same costume — attemping the exact same thing. This commercial took me on a nostalgic journey back in time, and I’m grateful for that journey. Perhaps that’s why the ad instantly went viral; it mirrored a real life situation that most parents can connect with.

But it was also one of the few ads that resonated with a key consumer demographic: Moms. We all know that a large percentage of Super Bowl viewers are women, but this sporting spectacle has also become one of the biggest family events of the year — meaning many of those women are also moms.

Patty Minglin , a marketing consultant with M2M, recently pointed out several marketing-to-mom lessons marketers can learn from Volkswagen’s success:

Focus on Family. Yes, resonating with mom is a key component to any marketing-to-mom strategy, but if your brand can create a spot that resonates with mom, dad and kids — you’ve hit the marketing-to-mom trifecta. Developing a campaign with universal family appeal does more than just bring dads (and kids and even grandparents) into the conversation, it actually gives mom the opportunity to use your campaign as a way to connect with her own family.

Tell an Emotional Story. The VW ad resonates with moms because of the whimsical and heart-touching emotional story it tells, which resonates with mom consumers. Commercials like this allow women to view a brand as smart, savvy and family/mom-friendly.

Appeal to Shared Experiences. Not only do moms have shared parenting experiences, but they also have shared generational experiences — and there are moments when those two worlds collide. What mom hasn’t watched her own children run around in super hero costumes and princess crowns and not been reminded of her own childhood experience of pretending to be Luke Skywalker or Princess Leia? That is powerful messaging that transcends beyond parenthood.

Does all this really work? It appears to be working for Volkswagen. Even before the game the spot had gone viral with millions of YouTube views. It’s also ranked at the top of almost every Super Bowl ad review list, leaving Ryan Rudnansky, featured columnist for Bleacher Report, to state, “The ad is not only ingenious in setting up things for the car at the climax, but also strikes a nerve (or a funny bone) with the general public, something all great ads do.”

Marketing to Women: Not a Niche

Women Are Not a Niche Market

When will marketers finally get it? Recently I was speaking to a professional group and was introduced as a specialist in the marketing to women “niche.” I almost choked. Once again, my specialty has been referred to as niche. Really?

Women influence 85 percent of all consumer purchases, and represent over $7 trillion in purchasing power. This is a niche market?

Yes, our team has managed public relations and marketing programs for food and baby products, but we’ve also represented men’s grooming products, motorcycle and automotive manufacturers, fast food, an airline, a real estate firm, gaming, and a major university. Why? Because eventually it all comes back to women. Women who, yes, are often moms – but who frequently have responsibility for making major business decisions as well. Like buying computer servers. And health insurance. And financial services.

According to Tom Peters, one of the world’s top marketing gurus, women are the top marketing opportunity for the foreseeable future.

Women Hold Purchasing Power

For years, women have been recognized as the chief purchasing officers for their households, and they still are the primary decision makers for household goods. But women also drive the big-ticket expenditures for themselves, their families, and their businesses. For example, women drive the purchases of:

91 percent of new homes
66 percent of computers
92 percent of vacations
65 percent of new cars
89 percent of bank accounts
93 percent of food

All this influence at the same time that 91 percent of these women feel that advertisers don’t understand them.

59 percent of women feel misunderstood by food marketers
66 percent feel misunderstood by healthcare marketers
74 percent feel misunderstood by investment marketers
84 percent feel misunderstood by investment marketers

Source: Yankelovich Monitor

The Key to Marketing to Women

It’s a scientific truth that women and men see things differently – because their brains work differently. While men think in abstract principles and have great spatial acuity, women are more accessible emotionally and think more holistically. Translating that into a brand’s marketing messages is critical in reaching this key consumer.

Does your brand truly “get” women and how they relate to your marketing messages?

Well, Bowl Me Over: Marketing Beer. . . to Women??

By Marti Barletta, CEO and Founder of the Trendsight Group

The Super Bowl is right around the corner, and I look forward to the event at least as much for the annual party and the advertising as for the game. And if there’s one thing we can be sure of, it’s that there will be a lot of beer advertising on the schedule.

Year after year, I continue to be astonished at the mounds of money the conventional beer industry leaves on the table by overlooking the opportunities to market to women. This is not a tough call, team: Marketing beer to women – marketing it well to women, I should say – would boost sales, would require no new product development or launch, and would shake up the category with some innovative and interesting creative work.

1. Boost Sales

A Woman Drinking Beer

The beer market is missing a substantial opportunity by never, ever marketing to women. According to Beverage Dynamics, women comprise 32% of Domestic Regular beer drinkers, 36% of Imported Regular beer drinkers and 42% of Light beer drinkers. Now, I grant you that women probably account for proportionately less volume consumed; but I guarantee you that they account for proportionately more volume purchased, as, wishful thinking notwithstanding, women still handle over 80% of all grocery buying duties.

As for the low consumption number, I could argue it’s a self-fulfilling formula driven by the beer industry’s practice of advertising that virtually slams the door in female faces. (“No girls in our clubhouse!”) In my three decades “trendsighting” marketing campaigns, only once have I seen an ad I would consider resonant with women – and I saw that spot only once. (I seem to remember it was Coors or Coors Light, but sadly, I have no record or recollection of what it was, or of the specifics that caught my attention.)

2. No New Product Launch Required

The “girly beers” that I have seen – like the pink beers in Britain (REALLY?!) – have been marketing “FAILS” that should never have reached the shelf. Some segment(s) of women may or may not prefer a different taste profile in beer than men, but to date, these pathetic attempts to “reach out” to women have been insulting.

3. Innovative and Interesting Creative

Off the top of my head, I can think of at least three approaches that breweries should explore in marketing beer to women. Any of these strategies is likely to have more appeal to women than anything I’m seeing on the football playoff broadcasts now. (Oh – and by the way: 38% of pro football’s TV viewers each week are female – as are fully 45% of Super Bowl viewers.)

Refreshing – Something like the Lipton Brisk approach: an icy-cold, fresh-tasting and (unlike wine or mixed drinks) “gulpable” alcohol drink. (Remember “this ain’t no sippin’ tea!”) This would make a great campaign for warm seasons or warm climates.
Humor – Funny situations based on women’s humor dynamic (“that’s me” moments) not on sophomoric male humor (practical jokes and horse farts).
Sociability – Since nobody likes to drink alone and everybody likes a good beer, social occasions are absolutely the most natural setting for beer advertising. I’m thinking of “Here’s to good friends… Let it be Lowenbrau” or the “weekends were made for Michelob” and “Tonight, make it Michelob” spots. If you click over to watch these ads, cut them a break. Some of them look incredibly dated and corny to us today, but hey- it’s not their fault I had to go back 35 years to find beer ads built around being social!

None of these approaches would exclude men, by the way. What they would do is include women, unlike the current overtly testosterone-driven beer campaigns that dominate the market.

Actually, the ONE beer campaign I can think of that probably appeals equally to men and women will likely be on air in a few days… but only for the blink of an eye.

Anheuser Busch traditionally creates 1-2 beautiful new Clydesdale spots for the Super Bowl every year. I love these ads – the little donkey that desperately wants to make the team; the young colt that gets a helping nudge from the big guys when he tries pulling the wagon on his own; Hank, the horse who doesn’t make the team, but trains all year, coached by the Dalmation, to the sound of the anthem from Rocky…

Every year, the Clydesdale spot is ranked one of the Super Bowl favorites… Every year, it does a beautiful job re-connecting millions of viewers – men and women – to a brand that comes across as a class act that Americans can care about. And then less than a week later, it’s gone. What a waste!

And what a mystery, to me, at least. I understand that young men are the core consumers. But seriously: In a category where a single share point means multi-millions of dollars, how is it that not one marketer thinks it’s a worthwhile idea to include women in their marketing message?

Notice I didn’t say “Create, launch and promote a new beer marketed exclusively to women.” I’m suggesting simply some sign that says “Women welcome – Why don’t y’all come in and have a cold one with us?” The day beer marketers open up their advertising, they’ll find women will open their wallets. And the resulting sales will bowl you over.

I second Marti’s thoughts. If you’re a brewery, you would strike gold this time of year IF you decided that pursing the 50.9% of the population that is women was worth it. And worth it – it is.

Where Is the Tooth Fairy When You Need Her?

Marketing Healthcare to Women I could say my life is full –– but that’s code for frenetically, overwhelmingly busy. Too busy to take care of me –– too busy to be healthy. It’s not that I don’t know what I need to do –– it’s finding the time to do it that’s the problem.

And that’s what brought me here. Last week I had the extremely unpleasant experience of getting my wisdom teeth yanked out of my mouth. I’ve known for years that I needed to address these teeth, but I was always too busy avoiding the inevitable. It was finally a salad and fork that ultimately dealt me this hand.

Whether I’m making healthcare decisions for myself or my family, I’m definitely the one making the decisions. Novocain or anesthesia? Remove one broken wisdom tooth or all of them? Dentist or oral surgeon? Vicodin or Ibuprofen?

I walked back to the Chair Of Doom and the oral surgeon, who injected me with the Propopol that sent me off to wonderland (hello, Michael Jackson). I elected to have my wisdom teeth surgically removed –– which means cutting the gums open and breaking the tooth into pieces and pulling the pieces out. I have to admit –– it hurt, but I was trying not to be a baby in front of my son who I’m sure will eventually have to face this as well.

As a marketing-to-women specialist, I understand the purchasing power of female consumers. And though women make 90% of all consumer healthcare decisions –– some $500 billion a year -–– we are still considered a niche market in the healthcare category. In other words, marketing healthcare to women isn’t a priority for many brands.

What do women want from their healthcare providers? For starters, prescriptions that can be sent electronically to the pharmacy from the doctor’s office. Doctors that can provide resources for answers to a patient’s questions before their appointment. In general –– the same customer attention they demand from other consumer products and services. Now more than ever, healthcare marketers need to understand that women want resources they can trust, and should be looking to create lifetime relationships with these important consumers.

Do you feel your providers are marketing healthcare to you?

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