2010 HAR REALTOR® Expo- Sandra Morgan
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Gender Marketing- The Buying Power of Women
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2010 HAR REALTOR® Expo- Sandra Morgan
- 1. Gender Marketing The Buying Power Of Women! Presented by: Sandra Morgan
- 2. Gender Marketing 91% of women say that advertisers/marketers do not understand them
- 4. "Marketing to women should be transparent, not pink," says Martha Barletta, president of The TrendSight Group in Chicago and author of Marketing to Women: How to Understand, Reach and Increase Your Share of the World's Largest Market Segment. “Companies who want to reach women need to really show that they're sensitive to the needs of this market and that they're taking it seriously. Because if they think that it's all about decor and all they need to do is paint their brand pink, that will backfire on them 99 out of a hundred times.“
- 5. Gender Marketing Women control the purchasing decisions for: 85% of automobiles92% of vacations89% of bank accounts62% of health care91% of homes91% of customer electronics
- 6. Gender Marketing More than 50% of businesses are owned by women. High-net-worth women account for 39% of the country’s top wealth earners; 2.5 million of them have combined assets of $4.2 trillion. 43% of Americans with more than $500,000 in assets are female The number of wealthy women investors in the U.S. is growing at a faster rate than that of men. In a two-year period, the number of wealthywomen in the U.S. grew 68%, while the number of men grew only 36%.
- 7. Gender Marketing Affluent working women with family incomes of $75,000 or more are growing in number, and 94.3 percent access the Internet during an average month. About half are now considered heavy users of the Internet, while heavy use of radio, television, newspapers and direct mail has declined within this group.
- 8. Gender Marketing The mom market is now comprised of three generations of women raising children: Boomer moms, Gen X moms, and Gen Y moms. Together this group of women controls $1.7 trillion in U.S. spending annually!
- 9. Gender Marketing Women and Affluence One huge, affluent segment wields more spending clout than any other: Baby-Boomer women
- 10. Gender Marketing Over the next decade, women will control two thirds of consumer wealth in the United States and be the beneficiaries of the largest transference of wealth in our country’s history. Estimates range from $12 to $40 trillion.
- 11. Gender Marketing What are the latest stats for women and Social Media? 64% of women on Twitter follow at least one brand on Twitter. And these women are 48% more willing to use a product or service from a company who uses Twitter.
- 12. Gender Marketing Attention, marketers targeting older women: Women age 55 and over are the fastest-growing U.S. demographic group on Facebook in the last three months, according to new data reported by Inside Facebook The number of women on Facebook is growing faster than men in almost every age group, and women now make up 56.2% of users.
- 13. Gender Marketing 10 Musts for Marketing to Women on Facebook 1. Quality Counts
- 14. Gender Marketing 2. Create an Emotional Connection
- 15. Gender Marketing 3. Provide Utility
- 16. Gender Marketing 4. Give Fans a Voice
- 17. Gender Marketing 5. Listen!
- 18. Gender Marketing 6. Complement Her Life, Don’t Complicate It!
- 19. Gender Marketing 7. Don’t Be Redundant
- 20. Gender Marketing 8. Keep the Shopping Experience Seamless
- 21. Gender Marketing 9. Remember: She’s a Social Shopper
- 22. Gender Marketing 10. Keep Your Fans in the Loop
- 23. Gender Marketing Marketing Real Estate on Facebook 1. Encourage past clients and new clients to ‘friend’ you or ‘add’ you to their networks. Include links to your profile in your marketing materials, business cards etc. Build out a brand new online “sphere”.
- 24. Gender Marketing 2. Creating Groups – This is the most obvious way to use the site. Create a “Houston Homebuyers” group for example and help first time buyers with their questions. Leverage your expertise to become the expert in the group.
- 26. Collaborate on homes between you, your client, their spouse and any other decision makers
- 27. Your personal agent referral network
- 28. Your top personal referral sources
- 29. Your 365 things to do
- 32. Your Real Estate Brokers agents only group
- 33. All the participants in a sales transaction
- 35. Gender Marketing 4. Shares – You could use Facebook to market properties to a select group or share properties with your friends . A handy bookmarklet lets you add external links to your Shares. You could add your properties to Facebook Marketplace!
- 36. Gender Marketing 5. If you’re a blogger, add your RSS feed to your profile. Facebook lets you add a Blog feed to your Notes. You could find new readers and even drive traffic back to your blog by sharing your posts with your network. Drew Meyers from Zillow wrote a great post along the same lines – check out How to Productively Take Advantage of Online Communities
- 37. Gender Marketing 74% of Social Media Users Expect Cries for Help to Be Answered Within an Hour
- 38. Gender Marketing
Notes de l'éditeur
- Good Afternoon!I want to thank The Houston Association of Realtors for allowing me to speak to you today. I see SO many familiar faces in the audience and I want to thank you all for attending. I know you’ve had a long day and that you’re ready for the Expo to begin and have some fun! Me too!But first let’s talk about what I feel is a very overlooked demographic when it comes to marketing – The Buying Power of Women!
- When I first read this statistic, I was really taken aback because it made such a profound impact on me. How could this be possible? Are we this far off the target when marketing to women?"Who here does a great job talking with prospects on the phone?“ "Who here does a great job selling face to face?“
- 1955 - The United States and Panama sign the canal treaty, James Dean dies in a car crash, and Scrabble makes a dramatic entrance into the board game market. With 20 million American women now licensed to drive, Chrysler rolls out the Dodge La Femme and hails it as the first and only car designed for "your majesty, the modern American woman.“ It features "Heather Rose" exterior, upholstery and trim, and an eyebrow-raising set of accessories that includes a raincoat, umbrella, purse, lipstick and compact. But it's not, apparently, what the 1950s modern American woman had in mind; the Dodge La Femme bombs and is pulled off the market the following year. Now – if it had come with the guy ready and waiting to open the car door – sales might have been different – it’s all in the marketing!
- Today, almost half a century later, the Dodge La Femme lives on as a vintage car--a collector's item that offers both sentimental value and the intriguing appeal of a somewhat tainted past. To marketers, however, the Dodge La Femme is highly valuable for a very different reason: it's a shining example of what companies shouldn't do when trying to create and market products that they hope will appeal to women
- Let’s talk about a few statistics when it comes to the Buying Power of Women!The last statistic tells us that women are CONNECTED!
- And the number of businesses owned by women is growing at two times the rate of male-owned businesses.
- Pay close attention to this part
- Boomer Moms – born 1946 to 1964Gen X Moms – born 1965 to 1981Gen Y moms – 1982 to 1994making them one of the most profitable and sought-after consumer segments.Baby Boomer women are much more likely to believe those Rug commercials that scream out “Water Damage Sale”, “Shipment Error Sale” “Everything Must Go 75% Off or More” etc. Gen Y women don’t buy it - not for a second.In many cases, Gen Y and Gen X women are quite similar in that once you win them over they’re fiercely loyal brand advocates with as many as 61% Gen Y’ers telling their friends about products they enjoy. The key is in capturing their loyalty in the first place. Gen X women are more influenced by expert opinions and testimonials whereas Gen Y women are influenced by their peers which extends to their friends but also their online friends and blogs.
- Born between 1946 and 1964, these women represent a Portion of the buying public no marketer can afford to ignore. With successful careers, investments made during the “boom” years, and inheritances from parents or husbands, they are more financially empowered than any previous generation of women.
- Many Boomer women will experience a double inheritance windfall, from both parents and husband. The Boomer woman is a consumer that luxury brands want to resonate with. Baby Boomer women have more money, leisure time and technology than any other generation in history. They can not only stay in touch with family and friends but actually continue to pursue their careers while traveling. Thanks to Wi-Fi, satellite Internet hookups, e-mail and cell phones, baby boomers can continue running businesses from just about anywhere in the United States.
- Are you a Tweeter?Do you understand Tweeting?You better if you plan to reach the female market through social media!
- There are over 56 million women using Facebook in the United States, and for marketers this means one very important thing –- if you have a brand, product or company that targets women, Facebook is the place to be.Unfortunately, unless you’re a brand that every woman knows or loves, then just being on Facebook is not enough. Facebook has done a great job of giving marketers a powerful tool with its Pages product, but like most things in life, it comes down to execution.So let’s take this ONE Social Media site and break it down.
- To help, here is a list of 10 tips for marketing to women on Facebook.The first thing I tell marketers, whether it’s a Fortune 500 company or a friend launching an online jewelry site, is to remember that women are bombarded by marketing messages all day, every day. On the surface, Facebook is no different than the “real world” –- constantly being pitched to and spammed is annoying. The main difference between Facebook and the “real world” is that on Facebook, fans can “hide” your marketing message much more easily than they can avoid the billboard on the way to work. As a result, you are going to have to try your best to connect with them. On Facebook, quality rises to the top more often than not.
- A man describes the way his wife tackles obstacles as full of drama: She rages, she cries, she internalizes everything. Her system of problem-solving takes a long time and involves making everything personal and leading with her emotions in a quest to see how she would feel about each possible solution. It is apparently a very stressful process. In contrast, the man’s problem-solving method is to just try to find the fastest fix. When I asked why he preferred his wife’s method, he said it was because “her decisions always end up being the right ones, whereas mine always end up being the quick ones.”So quality rises to the top, but what does that mean? For starters lets take a look at what Dove has done on Facebook.
- Utility should be synonymous with your brand. It will allow you to create a relationship with your fans. Susie Hale/Frogpond does a great job of providing utility for her fans.She Creates a series of posts that her fans can look forward to on a daily or weekly basis — something they will feel a real connection to and will teach them something they can use. If you run a real estate web site, for example, provide a piece of advice from an authority in real estate every Friday –- it will make it much harder for your fans to block your updates if they have something to look forward to.
- Women like to be heard. Stand out from the crowd and engage us. By creating a two-way conversation, you are personalizing your brand and making it one that can be trusted.Your Facebook Page is also one of the best “focus groups” on the web. Trying to decide which real estate app to add to your iPhone/Droid? Just ask your fans.A great example of this type of interaction is H&M. operates in 37 countries and has 76,000 employees all working to the same philosophy: to bring you fashion and quality at the best price. They are constantly asking their fans what pieces they want to buy, what they would pay and what they want H&M to carry. This type of feedback is invaluable and brings the fan into the overall experience. Women can share their thoughts, and you can enjoy the free insight you’re receiving straight from your target consumer.
- I’ve been training sales people for longer than I want to admit here, but there is one aspect of the sales process they often forget and that is how to listen.Not only do women like to be heard, we also like to know we’re actually being listened to. If a fan posts a question on your page, answer it. If she compliments you or your brand, thank her. And if she complains about it, address her concerns and reassure her that you’re working on fixing it. This is a great way to build trust and showcase the great customer service and support your company offers.
- If you’re doing a giveaway, running a great promotion or for example, if HAR has introduced new tools for your consumer (which they are always doing) – TELL HER but keep the process simple. Cosmopolitan Magazine, for example, constantly offers giveaways and discounts, but always do it in a clear and simple way. The lesson here is not to overthink your promotions. Your fans will look forward to the next time your brand has something new and exciting to share, as long as taking advantage of the offer is relatively pain-free.
- Unlike Twitter, where most people are following a plethora of people and information is passing by at lightning speed, Facebook has a tendency to draw attention to “spammy posts.” Facebook users do not want to see the same message posted multiple times in their feed. So if you’re promoting something or adding a listing that you’ve already shared through your Fan Page be sure to reword it and provide additional value before you post it a second time.CLICK - Christi Borden does a great job of this!
- You need to remember that women tend to be the CPOs (Chief Purchasing Officers) in their households, and that they tend to ask friends for advice about brands and products. Women are more than happy to share a good deal when they find one.The Limited was one of the first brands to really grasp that Facebook represents a huge opportunity to reach their CPOs. They have started to embed actual retail offers into their newsfeed. But unlike other brands, they do not drive their traffic off of Facebook. Instead, their feed stories open up into widgets on Facebook that can handle the entire transaction right there. This clever use of technology is a prime example of ways that brands need to think outside of the box to reach their social shoppers.
- Women also tend not to be shy about sharing their distaste about a brand or product or talking about their poor experience, so never take advantage of your fans. The last thing you want is your target demographic badmouthing your brand on a viral platform like Facebook.Keep your offers and processes clear and honest and always respond to feedback and criticism.
- Fill your fans in on the positive but don’t be afraid to address the negative. As we all know, the web is transparent. Allow it to work in your favor. Just launched your own Android app? Let your fans be the first to know. Just got nominated for an Award and want to share it with the world? Let your fans know the moment you find out. In a transparent world, you can share your news with your fans, and the sooner the better.Last but not least, if your company is experiencing difficulties or a down web site, be the first to let your customers know. Be upfront and straightforward. Your honesty will speak volumes about your brand.
- Keeping in mind all of the things we just discussed about marketing to women – let’s focus on marketing real estate on Facebook.I think that maximizing your exposure on social networks like Facebook are going to be increasingly important to small businesses – especially in industries that are already so network-dependent like real estate. Unfortunately, due to the fleeting nature of these sites, the trick is going to be to stay on top on where everyone is. The real danger is arriving too late and finding your audience has already moved on.
- Remember though, it’s not just about YOUWant to self promote? You can! Just do it while giving back to the community as well. Engage in dialogue. Participate and offer genuine feedback.
- Now this is where it gets interesting for real estate professionals. READ SLIDE
- Oh – and guess what? You can find out when on their Group/Fan Page! You can engage in discussions, share information in a neutral open forum that doesn’t demand the intimacy of an email or telephone contact.
- Think about it, you could have an exclusive Group of Realtors in your market, maybe its even inside a single branch office, and you could share great listings with each other even before they hit the MLS.
- blogs have grown into a more powerful tool than anyone ever imagined.They can be used to generate leads for nearly any kind of business, including those that provide real services in the offline world.Okay, sounds great. People read your blog and then call to hire you, right? Well, not quite.Are you selling a product or a service?First, it’s important to understand that selling a service is not like selling a product.
- In grim economic times, the last thing a company can afford is to be serving-up poor customer service. While this may seem obvious to many –when business slows, why risk losing a customer ?– time after time companies cut costs in customer service, only to be shocked, shocked, when people buy elsewhere. CLICK PHOTO - Women especially despise poor customer service and will leave faster than they can pull out a gun and shoot their computer!CLICK 74%
- The downward spiral of the economy has impacted us bothnegatively and positively. The sales funnel/process hasn’t changed nor has the customer - but there is a demand toward changed attitudes and orientations.In short, “the marketing to women game has changed,” and it's way past time for businesses to play by the new rules.Thank you so much for your attention and time today. Do you have any questions?