Lipstick Economy Podcast is Live!

The Lipstick Economy is now a Podcast, born from this blog that has represented this “minority majority” who have been overlooked or misunderstood. The Lipstick Economy represents the 108 million adult women in the US who make buying decisions for themselves and their extended family.

There are lots of podcasts focused on women entrepreneurs and empowerment but there is only one podcast focused on marketing to women.

The Lipstick Economy podcast, hosted by Jamie Dunham and Melinda Hudgins Noblitt, is about all things marketing to women because women make 85% of consumer purchases.  But here’s the rub: Only 90% of women think brands understand them.  That’s why Dunham and Noblitt teamed together to tell the stories of leaders who are excelling in reaching women through their insight, strategy, diversity and creative thinking

Jamie Dunham, Brand Wise founder,  is a veteran of the Nashville advertising world, and one of only five women to receive the coveted Nashville Advertising Federation Silver Medal Award.  Melinda Hudgins Noblitt is a well known recruitment marketing leader with a wide-ranging background in journalism, experiential marketing, and diversity recruiting.

Each episode brings you the stories of marketers with relevant stories to share.  Listen in as we talk to leaders in tourism, hospitality, diversity, retail, sports and more.

Hop on over to http://www.LipstickEconomyPodcast.com to find us – or wherever you listen to your favorite podcasts.

 

Millennials Are Killing Divorce Rates

Article upon article suggest that “Millennials are killing” just about everything – the real estate industry, diamonds, Applebee’s. The list goes on and on… And now, we can add divorce rates to that list. New data from University of Maryland professor Philip Cohen shows that the U.S. divorce rate has dropped 18% from 2008 to 2016. So, what’s the cause of this decline? It’s important to note that the marriage rate has also declined over the past few decades, but Cohen considered this in his research. He calculated the divorce rate as a ratio of divorces to total number of married women.

“The overall drop has been driven entirely by younger women,” Cohen states in his study. He continues to say that recently married women are “more likely to be in their first marriages, more likely to have BA degrees or higher education, less likely to be under age 25, and less likely to have own children in the household.” The driving factors of the decline in divorces are ultimately that the married population is waiting until they’re older and waiting until they are individually successful before tying the knot. Marriages today are more likely to last than those of ten years ago. In accordance to this study’s predictions, we can anticipate the divorce rate will continue in this declining pattern.

The demographic changes in our society are changing so many businesses today from weddings to home purchase.  Those who are marketing to women need to embrace this new woman.

More than Half of Women Are Now Primary Breadwinners

New news. It used to be that 40% of women in married households were the primary breadwinner. Now, more than half of American women are the primary breadwinners in their households and many of them are worried about financial matters. Results from the Center for American Progress show that 63% of mothers were primary, sole or co-breadwinners for their families. Sounds like good news?  Well, not so quick.

Sounds like good news? Well not so quick. The fact that women are bringing home a significant portion of their families’ incomes does not mean that there is gender parity in the workforce, nor does it mean that working parents and caregivers have the supports they need. Issues such as the gender wage gap and lack of policies such as universal paid family and medical leave, paid sick days, and workplace flexibility still hold women back from reaching their full economic potential.

Families in the United States look different than they did a generation or two ago. Married couples today are less likely to have children than they were in the past, and single-parent households are also much more common. In 1974, a married couple headed 84% of all families with children, while in 2015, only about two-thirds, or 65.5%, of families with children were headed by a married couple. And from 1974 to 2015, the rate of families with children headed by a single mother nearly doubled—from 14.6% to 26.4%—while the rate of single fatherhood quadrupled from 1.4% to 8.1%.

Want to See Your Competitor’s Facebook Ads? Now You Can.

Turns out all that Facebook transparency has an added benefit for marketers.  We can now see our competitors ads by just going to their Facebook page and looking under the heading that says Info and Ads.  On mobile, it is right under the header photo.  For instance, Panera is running ads about their new delivery program.

Why can we see them now?  The main reason for these new transparency tools is to provide more insight into how political advertisers are using social platforms to manipulate voter opinion, and promote certain candidates as a result.

Heard of dark posts?  Dark posts appeared on the news feeds of targeted users, but not on the company page of the brand that sent them.  But that’s all changed with this new ability to see what ads are running for Facebook Pages.

Facebook itself has previously described how its platform could be used to influence election outcomes, and with 2.2 billion users and growing, it’s a powerful tool of influence.  Women represent 52% of users and 78% of U. S. women are on Facebook, compared to 62% of  U. S. men.

Women Make 80% of All Travel Decisions

Women make 80% of all the travel decisions. We represent two-thirds of all travelers in the United States.  47% of us are traveling for business and 72% of women are traveling solo. In all our travels, women want to be valued. And we should – we spend more, are more concerned about safety and want to be pampered. Women travel most for independence (73%), escape (52%), enjoyment (36%), reflection/growth (32%) and learning (31%).  Today’s travelers value experiences over “stuff”.

Reading People’s Body Language

There was a great television show back in 2009-2011 called Lie to Me about a deception expert who studied body language to expose the truth behind the lies.  Wouldn’t that be a great superpower to have in your next client meeting, performance review, interview or parental showdown?  UCLA research has shown that only 7% of communication is based on the actual words we say. As for the rest, 38% comes from tone of voice and the remaining 55% comes from body language. Learning how to become aware of and to interpret that 55% is an advantage that we need.

Well, here are some cues to look for.

1. Crossed arms and legs signal resistance to your ideas. Crossed arms and legs are physical barriers that suggest the other person is not open to what you’re saying.  In fact, they are unconsciously saying they are mentally, emotionally and physically blocked off.
2. Real smile crinkle the eyes.People often smile to hide what they’re really thinking and feeling, so the next time you want to know if someone’s smile is genuine, look for crinkles at the corners of their eyes.
3. Copying body language signals a bond.Mirroring body language is something we do unconsciously when we feel a bond with the other person. It’s a sign that the conversation is going well and that the other party is receptive to your message.
4. Posture is important.Standing up straight with your shoulders back is a power position.  Maintaining good posture commands respect and promotes engagement, whether you’re a leader or not.
5. Eyes can lie.On average, Americans hold eye contact for seven to ten seconds, longer when we’re listening than when we’re talking. If you’re talking with someone whose stare is making you uncomforable—especially if they’re very still and unblinking—something is up and they might be lying you.
6. Raised eyebrows signal discomfort.There are three main emotions that make your eyebrows go up: surprise, worry, and fear.  If somebody who is talking to you raises their eyebrows and the topic isn’t one that would logically cause surprise, worry, or fear, there is something else going on.
7. Lots of nodding signals anxiety.When you’re telling someone something and they nod excessively, this means that they are worried about what you think of them or that you doubt their ability to follow your instructions. 
8. A clenched jaw means stress.A clenched jaw, a tightened neck, or a furrowed brow are all signs of stress. The person may be anxious about the conversation or thinking about a particular thing is stressing them out.

Gift Giving Benefits Retailers Two Times

Gift giving is an important part of retail sales.  It also represents an emotional bond made between the giver and the recipient.  Retailers should recognize the dual rewards in growing their gifting business because you are touching two targeted consumers at the same time – the purchaser and the recipient.  Gift giving strategy can provide exponential results for marketers if done correctly.

Unity Marketing estimates that $1 out every $10 spent in the typical retail store, (general merchandise, apparel, furnishings and others) is spent to buy a gift. Gifts represent approximately $128 billion in spending in 2017.  Consumers are typically buying a gift every one to two months.

So what’s behind the science of giving?  The act of gifting is typically meant to communicate feelings for and with another, fostering stronger social relationships.  New research by the Wharton School looked at what type of gifts build deeper personal relationships, a material gift or an experiential gift.

Experiential gifts win over material gifts

Despite gift givers’ tendencies to give material possessions, material gifts do less to foster meaningful relationships between gift givers and gift recipients. The researchers report, “Experiential gifts, in contrast, make recipients feel closer to the person who gave them the gift, regardless of whether the experience is consumed together with the gift giver. Experiential gifts have this effect because of the emotion they evoke when consumed, particularly when the emotion is shared.”

“Our findings demonstrate that giving experiential gifts is more effective at fostering closer relationships, and therefore implies that gift givers should feel happier as a result of giving an experiential gift compared to a material gift,”

What are experiential gifts?  An experience could be providing services like a meal, spa outing, horseback riding, or vacation.  But don’t dismay – material gifts can offer experiential aspects – candles, music, books, toys, food and drink items and even things that are nice to the touch – a furry throw, a cashmere pillow or silk pajamas.

Even the actual event of purchasing the gift can be experiential in a story setting or online by telling a story, allowing for touch and feel, and conjuring up warm feelings.

 

What Should Marketers Do About Facebook Third Party Data Changes?

The big stat:  83% of female internet users and 75% of male internet users are Facebook users. There are 207 million Facebook users in the United States. 

Are advertisers concerned about the Facebook scandal?  We should.  Some 45% Facebook users say they are going to use Facebook less.  And let’s be real here. We need Facebook users and their data.  Because without the data, it could limit our ability to target specific audiences on Facebook and Instagram.

One agency exec James Douglas, head of media at Reprise, a digital agency owned by Interpublic commented, “If advertisers were suddenly unable to target certain segments, because of regulation—such as political affinities, income or wealth accumulation, or race/age/gender—that might challenge advertisers to look elsewhere for options.”  We rely on data that can be anonymized and aggregated, and doesn’t infringe on users’ privacy.

As advertisers, we have been able to target audiences on Facebook using three sets of data –

1. Data from Facebook, which collects user data and profile info.
2. Data from the advertiser, such as email lists used in look-alike audiences.
3. The Holy Grail Data from 3^rd Party providers like Experian and Acxiom who provide purchasing behavior information.

With the new changes Facebook is implementing, marketers will be limited to using only their own data and Facebook data. The third party data (from groups like Experian and Acxiom) has provided behaviors such as income, people buying a house or people having a baby. Facebook has also announced it is dropping audience reach estimates for custom audiences.

So what should we be doing to get ready for these changes?

1. Rely on your own data more. Marketers may need to depend on their own data and possibly find similar audiences on Facebook and target them. Growing your own email list and using that to define a look-alike audience has always been possible. With reach estimates going away, it will be necessary to watch campaigns closely to see the audience reach delivered. Over time Facebook will figure out how to expand their data.
2. Don’t step away from Facebook,  but think about expanding your social media platform usage to insure reach.  Marketers need to include more media than just Facebook in the media mix. Now’s the time to think about Pandora, Spotify, YouTube, Waze, Instagram and more.
3. Use Instagram more if it fits your demographic. Instagram fits a young adult audience, it’s growing and currently represents 28% of Facebook mobile dollars. No doubt it will continue to grow in older age groups as Facebook fatigue sets in. Instagram purchasing is going to give marketers an enlarged audience and great info on buyers.
4. Don’t panic.  Facebook is not going away even if some users begin to use it less.  It is the Gorilla.  In 2018, the number of Facebook users in the United States is 207 million.

 

 

Women Consuming 11 Hours of Media Daily

Nielsen has a new report out on media consumption by women.  And while digital continues to grow, traditional media still takes up a large portion of media time.  In fact, women are now consuming 11 hours of media a day.  Some of the highlights:

1. Women still watch a lot of traditional live TV.  Women 18+ watch an average of 4 hours a day.  What about recorded TV? From 2015 to present, women have consistently spent an average of around 30+ minutes per day with time-shifted TV.
2. Radio is still important among women, as they spend almost two hours a day listening.
3. Digital, particularly smartphones, continues to grow.  Women spent 2.35 hours in 2017, compared to 1.45 hours in 2016.

Local is still important in targeting moms.  Nielsen’s Local Watch Report shows working mothers make up the majority of morning news (58%) and late night news (52%) viewing because as most are working during the daytime. Meanwhile, stay-at-home moms over index on catching up with the news at midday (61%) and early evening (57%) and spend much less time tuning into local news in the morning.

 

Convenience is the New Currency

We do a good bit of research on what drives purchases in retail. Our research among female retail consumers points to the truth that convenience is today’s currency. In fact, it is so important that it might be the most powerful force shaping our lives and economy, according to a recent New York Times article called it “The Tyranny of Convenience”.

Just think about the types of convenience that exists today – mobile banking, Amazon shopping, grocery pick-up and delivery services, all kinds task apps, movie apps, on-demand movies, ride-sharing, meal services, clothing services and more.

While conventional wisdom might think that women spend more time shopping,; men spend three hours shopping, versus women spending two and a half, and men are twice as likely to visit more stores than women do.

For your business to have cultural relevance today, it is imperative to understand what convenience means to your customers. What is convenient for your business may not be convenient for the customer. To your customer, their need may be same-day pick-up, self-checkout, more convenient hours or online chat to facilitate online shopping. It may be omni-shopping with the ability to shop online and pick up at the store.

A new research study by Catalyst, a marketing agency specializing in the retail sector, found that the top five motivators for brick and mortar shoppers were convenience, efficiency, good customer service, and product quality, with value important to all.

Time Well Spent. It seems that if shoppers are going to take the time to come to your store, you need to provide them with an experience that equates to value and convenience. Think about an Apple Store with its live demo of products, workshops, informed sales representatives, and iPad checkout.

Do a convenience audit of your business. Talk to your customers about what they value in the shopping experience. Don’t be afraid to make changes.