Marketing to Women: Top Ten 2013 Lipstick Economy Posts

December 27, 2013 § Leave a comment

A little retrospective on what you thought was most interesting in The Lipstick Economy this year. These are the top posts on marketing to women from this year.  A confusing year for women – Sheryl Sandberg told us to “lean in”,  Miley showed us how to twerk and Yahoo’s Marissa Mayer extended paid leave for parents and banned telecommuting.  

iStock_000012573383XSmallMarketing Travel to Women: Eight New Trends You Need to Know.  According to the Travel Industry Association, there is an estimated 32 million single American women who have traveled at least once in the past year, and some three in ten travel five or more times a year.  The average adventure traveler is not a male but a 47-year-old female and they have different expectations from travel than men.

Marketing to Women: Growth of Women in Marketing.  Almost a third of all Americans are employed in marketing-related positions.  That’s a staggering number if you think about it.  And it is a path for women to grow up the corporate ladder.   A recent study by a recruiting firm found that more top executives have come out of marketing than of any other area.

Marketing to Women: Why Marketers Don’t Understand Women.  For the first time in history, women now outnumber men in the workforce. Women are more educated, accounting for approximately 58% of students in two- and four-year colleges.   We account for 85% of all consumer purchases.   Purchases include homes, healthcare, cars, travel and computers.  And 96% list “being independent” as their single most important life goal.  But research says 91% of women don’t think marketers understand them.

M_BeyonceSuperBowl_101612Marketing to Women: Women Watching Super Bowl Too!  More women are watching the Super Bowl than the Academy Awards! In 2012, 54 percent of the roughly 111 million viewers who tuned in to watch the Superbowl on Fox were men, compared to 46 percent women.

Marketing to Women: Your Elevator Speech in 15 Seconds.  Sometimes the most important things are not addressed in business.  This handy guide to creating your elevator speech in 15 seconds is vital.  At New Year’s when you are at that party and someone asked you what you do, what will you say?

Marketing to Women: Six Things to Know About #Hashtags.  Hashtags are everywhere.  Some 24% of tweets contain hashtags. And 71% of people on social media use hashtags.  Even Facebook instituted the lowly pound mark that has become a strong marketing tool.  Do you know when to hashtag and not to hashtag?

Marketing to Women: One-third of All Women Are Single “Indies”.  It’s a new day for women and there is even a new term for the group that are over 27, not married, not living with a partner, and without children.  They are called the Indies.  This group has been growing and currently include some 31 million women, about a third of all adult women.  They now surpass the number of married moms!

Marketing to Women: Emotional Connection Important for Healthcare.  A recent study shows that 85% of consumers say it is important or very important to them to do business with a company for which they have strong emotions, per survey results from rbb Public Relations.  And the industry for which it is most important is healthcare.

Marketing to Women: Power to the PANKs.  PANKs, Professional Aunts No Kids.  They are actively involved in the lives of children around them.  In fact, one in five women is a PANK, or approximately 23 million Americans.  PANKs are roughly half of all the women who are not a mother or grandmother.  This group is actually growing as women are choosing to stay single or marry later.  PANKs spend $9 billion on toys and gifts for children annually.

Marketing to Women: Top 10 Culinary Trends for Restaurants.  The top 2013 trends included healthy kid’s food, iced tea, gluten-free, Greek yogurt and more.

Are You Marketing to Women? You Need to Lean In Too!

March 20, 2013 § 2 Comments

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Facebook COO Sheryl Sandberg

The idea of “lean in” is not a new one.  Lean in means to press forward like leaning in to the wind so you won’t be blown over – or leaning in because you are more than interested, involved – all in.  In the past few weeks, you need to have been in a cloistered retreat to miss all the hoopla over Facebook COO Sheryl Sandberg’s new book “Lean In:  Women, Work, and the Will to Lead.”  Sheryl Sandberg is an amazing woman who tells an engaging story about the workplace today and women’s own responsibility in moving up in business.

But marketers need to “lean in” as well.  Marketers need to recognize the power and influence of the women in the consumer arena and to greet that knowledge with more intuitive marketing that allows today’s women to see themselves in marketing.  Marketers need to be “all in” on the importance of women as consumers.

Here are just a few facts that support marketers “leaning in” on the subject of women and their purchasing behavior.

1.  One-third of Women are Single and Independent.   This is a growing group of women who think being independent is their most important life goal.  They have more disposable income than other women.  They are well educated, growing in management and happy to be single.

2.  Breadwinner wives are the highest wage earners in 40% of marriages.    From 2007 to 2011, women’s contribution to household income grew from 44% to 47%.  Male dominated jobs suffered the most in the past recession and women were more stable in their jobs.  Women now compose half of the workforce and are moving up the ladder.

3.  Women don’t think marketers understand them.  Women make 85% of all consumer purchases and yet, 91% of women don’t think marketeres understand them.  Women want authenticity, transparency, honesty and accurate portrayal.  Families are not longer nuclear, and women don’t measure success by how clean their laundry is.  It’s no surprise that only 3% of advertising agency creative directors are women.

4.  Marketers need to embrace women’s tools – social media and smartphones.  The newest figures out on social media usage from Pew show that the percentage of female internet users exceeds that of men (75% vs. 63%, respectively).  A new study by Weber Shanadwick provides richer insight on this social usage.  Here are some facts you can’t ignore –

  • 86% have a social media account/profile with 2.2 accounts on average
  • 81% Facebook is by far the most prevalent social media account
  • Women spend an average of 12 hours per week using social media (nearly 2 hours/day)
  • 19% say some of their best friends they know only through Facebook or Twitter

And why is this important?  Well, social women are social and have influence with friends.  They tell friends about products and services at a higher rate, they like or recommend services online, and they post comments and write reviews about products and services online.  And they post pictures or images online.

Oh, and smartphones are the most important tools in women’s handbags.  50.9% of smartphone users are women and we are using smartphones to stay in touch with our families and friends, interact on social media, and shop, shop, SHOP!!  If women can’t easily find you on their mobile phone or if you are not competitive, she will move on to another source.  Moms are on their phones six hours daily and  readily admit that their smartphones are more important than sex!

5.  Women buy based on emotion and facts. Okay, everyone does.  But marketers don’t seem to understand that in many arenas.  In purchasing decisions, 83 percent are willing to spend more on a product or service if they feel a personal connection to the company. One fifth of respondents said they would pay 50 percent or more if they felt the company put the customer first.  And yes, we have crushes on companies.  Who are those companies?  Think about your own list.  Mine includes Apple (oh, yes even if Samsung is making competitive products), Amazon (I smile when I see a box), Nordstrom’s (even my husband knows this is my brand), and Costco (a Saturday shopping pleasure).

So what’s a marketer to do?  Portray women accurately, don’t talk down to us, appeal to our emotional side, allow us to discover things about your brand, surprise us once in awhile, lavish us with great information and advice and like any good marriage – communicate, communicate, communicate.

Marketing to Moms: Moms Rule Literally!

August 26, 2012 § Leave a comment

Dilma Rousseff, President of Brazil, and Hillary Clinton, Secretary of State. Photo credit: Wikipedia

Have you read this year’s list of Forbes’ World’s 100 Most Powerful Women?  Check it out –  eight of the top ten are moms, and the majority of women on the list have children.  And these women don’t just rule at home; they literally rule countries, Fortune 500 companies and entertainment.  Not only are they power brokers but they are making a difference in the world.

Most of these women are over 50 so they came up in a time when there was guilt in leaving home for a job.  Today 53.6% of the labor force is composed of women.  Some 40% of females (16 or older) work in management, professional and related occupations, compared with 34 percent of males.  And 55% of college students are women.  Almost all of the income growth in the United States since 1970 has come from women in the  workforce.  Seventy percent of American women with kids under eighteen are earning a paycheck while raising children.

As one of the 85.4 million mothers in the US, I admit I felt a small tinge of guilt about work from time to time over the years.  But one day my daughter gave me a gift.  She told me she was always proud of me and my career.  She said she felt I was a model for her and having a career was stimulating and interesting.

Marketers can learn from this.  When women work, it changes everything about their shopping behavior – where they shop, when they shop, what they shop for, and how they assess brands they purchase.  They need services, not just products.  They need extended hours and delivery options.  They need cars with cupholders that fit their coffee.  And they need curbside services.

This Forbes list of women is anything but dull.  Here’s the top 10 (Oprah is #11).  But for all of you out there who are in the workforce and raising great kids, I think you deserve to be on this list too:

1.  Angela Merkel.  Chancellor, Germany

2.  Hillary Clinton.  Secretary of State, United States

3.  Dilma Rousseff.  President, Brazil

4.  Melinda Gates.  Co-Chair, Bill & Melinda Gates Foundation

5.  Jill Abramson.  Executive Editor, New York Times Co.

6.  Sonia Gandhi.  President, Indian National Congress, India

7.  Michelle Obama.  First Lady, United States

8.  Christine Lagarde.  Managing Director, International Monetary Fund

9.  Janet Napolitano.  Secretary, Department of Homeland Security, United States

10.  Sheryl Sandberg.  COO, Facebook

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