Want to Reach the Big Spenders? Speak to the Woman of the House
Tue, 06/03/2014 - 1:38pm | by Guest Author
Back in 1963, the song by James Brown and Betty Jean Newsome, "It's a Man's Man's Man's World," was a No. 1 hit on the R&B billboard chart at the time. Fast forward 50 years later, it's clear that times have certainly changed. Now women have taken reins and are making it known to the rest of the world that their spending power is strong and that marketers will need to start making a stronger effort to market to today's woman.
In honor of International Women's Day, on March 8, SearchEngineWatch.com's Danny Goodwin asked 13 women with careers in media and content marketing what their thoughts are on how far society has come in regards to addressing women as powerful contributors to media and marketing. In the article, many women acknowledged that sexism still exists but a key to success for them was the inspiration and mentoring they received from their female colleagues.
The 80 Percent
According to TheNextWeb.com, women are responsible for 85 percent of all consumer decisions in auto purchases as well as which health care premium to select. The site also went on to share that women are responsible for up to 80 percent of the auto purchases in the U.S.. and that women spend over $200 billion on new cars and maintenance of cars every year. So, don't be surprised if you see the number of women outnumbering the men when you visit car dealerships like your local Chapman Ford dealership. You might even see more female sales agents than men.
Mom's Spending Strength
TheNextWeb.com also provided statistics that showed how much moms are dominating the economy. The stats show that mothers are not only frugal and smart buyers, but that they are also tech savvy when it comes to their purchases. The article showed that 55 percent of moms actively seek out reviews and sales on social media and blogs for advice on what to buy. Also, 77 percent of the moms in the U.S.. are writing about the products that they enjoy using on their own blogs. Women also do most of their deal sharing with their friends online. Long gone are the days, when women used to gather together to clip coupons and swap recipe ideas in person. Now women are sending each other Groupons or Deals of the Day on Facebook.
Whether the marketing industry is ready or not, the influence of women in the economy and spending is growing. It's about time the other half takes notice and starts showing some R-E-S-P-E-C-T.