Jack and Jill have changed in the last 50+ years. Jill’s on line now, buying for herself, for her family, and for her business. You don’t need to know Jack; you need to know Jill, and know her well. Don’t get left behind. We are talking about real money here.”
Truly, Marti Barletta has much, much more to say in her definitive book on the subject of marketing to women, but if you’re one who values putting knowledge in nutshells that cannot possibly hold it all… the above will do well enough for the essence of what’s in Ms. Barletta’s bible. Consider some fascinating facts from her book: NULL
- The majority of consumers in the U.S. are women.
- By the year 2010, women will control 60% of wealth in the U.S.
- Female entrepreneurs account for 70 percent of all of new U.S. business start-ups.
- Consumer spending accounts for two-thirds of the economy and women influence 95 percent and make 85 percent of all consumer buying decisions.
- College students were responsible for $210 billion in sales in 2002 and 58 percent of them were female.
- Women purchase more than 50 percent of the cars and own more than 46 percent of the homes in the U.S. and more than half of all business travelers are women.
As interesting as the stats in the book are— and there are many more in the book— they are merely attention getters for Barletta’s real thesis, HOW TO market to the majority of consumers in the U.S. Of course, women and men are different, but in what ways and what are the best ways to communicate and market to them? That’s what Marketing To Women is all about. One of the richest elements of the book is Barletta’s “Eight Myths of Marketing to Women” which are: 1.Marketing to women may be appropriate because it supports diversity; but with our limited resources, we need to stay focused on the business results. 2.We need to keep our marketing focus on our core customers— men. 3.Average income for women is lower than for men. It doesn’t make sense to go after a low-income market. 4.Marketing to women will require us to double our budget or, worse yet, split it in half. 5.With women, marketing is all about relationships. 6.The best way to put focus on marketing to women is to undertake a dedicated initiative within our emerging markets group. 7.We believe in gender-neutral marketing; it’s what women want. 8.I’ve heard of companies that did woman-specific advertising and nothing happened or it backfired. Gender-specific marketing doesn’t work. “The root of the problem,” Barletta asserts, “is that most people who know a good deal about gender differences don’t know much about marketing; and most people who know a good deal about marketing have only a rudimentary understanding of gender differences”. As an example, when she speaks about Myth #5: With women, marketing is all about relationships. She writes: “While it’s true that women put more emphasis on relationships— personal and corporate— than men do, their purchase decisions and response to communications are affected by far more than ‘relationships.’ From word meaning to word-of-mouth referrals, product priorities to Internet usage patterns, women differ from men in many, many marketing dimensions. And, to overlook their complexities would be to undermine the effectiveness of your company’s programs.” Barletta, outlines, then details, four components of the women’s market: Earning power (“What’s in her wallet?”), high-net worth women (“the ultimate asset-holders”), consumer spending power (the “household chief purchasing officer”), and women in business (“controlling the company checkbook”). If you are in marketing— and you are— and serious about it— and you are (aren’t you?)— then Marti Barletta’s Marketing to Women is highly recommended. If you are in network marketing which is made up of 79.9 percent women, then Marti’s book is a must read.