What women want
More to think about
When it comes to purchasing, women wear the trousers. They control 83% of all consumer purchases and more than half of all corporate purchases, making their economic clout indisputable. In a decade, 70% of all retail customers will be female.
In the current economic downturn, where the household budget gains significance, women’s purchasing power is bigger and more relevant than ever.
And if that’s not reason enough to target women, consider this: women are more loyal customers than men. Once you’ve convinced them to buy your product, they can be fans for life.
They’re also more likely to recommend products through word of mouth and social networking sites – making them a powerful, self-sustaining marketing engine.
So it’s no surprise that companies are currently waking up to these growth opportunities and proactively attempting to woo women.
Don't think pink
But all too often, companies think pink when targeting women. They superimpose flowers and frills onto an existing product.
Yet only 9% of women want ‘feminine-looking’ products - most are turned off by pink. This was a key message at this year’s International CES, the world's largest consumer technology tradeshow.
The pinkwash problem
Just look at the detrimental effect that pinkwashing had on Motorola. Their pink Razr was merely a differently coloured version of an existing phone.
After selling more than half a million handsets in the first few months, it rendered the entire Razr series out of fashion. It offered no value other than a short-lived fashion statement.Think female-centred
Instead, women want design that addresses their needs in terms of function and form.
Crucial is that you identify and address women’s needs from the start of the design process – not at the end.
And whatever you do, don’t market it as a product 'specially for women’. This will send them running out of the shop in annoyance.
Source material: The Boston Consultancy Group - "Women Want More", Marti Barletta - "Marketing to Women", Karen Pine - "Sheconomics", Fara Warner - "The Power of the Purse", Katholm Helle Knutsen - "KIG dine kvindelige kunder i kortene", Andrea Learned - "Don't think Pink", femmeDEN, Saatchi & Saatchi.