What Women Want

6. April 2009 by admin.

More companies are betting on the buying power of women to offset the current economic crisis—that is what the Economist reported last month in its article entitled “Hello, girls”.  http://www.economist.com/business/displaystory.cfm?story_id=13278440

I found the article only somewhat interesting–but it made reference to a relatively new market research company that solely focuses on female consumers, SheSpeaks. I love a good idea when I see one and this is a great one…their concept is just brilliant in my opinion.  I mean – they even made a movie out if this, a HUGELY successful movie (see title of this blog).

Given that female consumers, who comprise just over 50% of the US population, account for more than 80% of discretionary purchases, along with the known fact that we (women) are generally more brand loyal, targeting women should be a no brainer, right? Wrong! Women are complex beings and every marketers wish they had the key to break their code!  The problem is women are definitely not from Mars…and yet, most creative directors and CMO’s are!

SheSpeaks is attempting to bridge that gap by offering marketers a way to reach women consumers, collect precious feedback, and initiate word of mouth marketing.  I have not tried their services – but it sure seems like they are doing it right.

Here is their value proposition to female consumers – simply brilliant!

 “SheSpeaks gives you many ways to have a say, including… testing products to inspire the companies who created them, writing your opinions on our blogs and discussion boards, creating your own product reviews, or getting expert advice on a range of topics to keep you in-the-know. “

Sign up to test-drive new products in exchange for your honest opinions and reviews at SheSpeaks. http://www.shespeaks.com/howitworks;jsessionid=4C2E3C099FCC639747C695D3FEC87F88

Back to “Hello, girls”, here are some interesting ways in which two companies mentioned in the article are launching new marketing strategies to appeal to women. Oh I love the attention we’re getting though

OfficeMax, “Life is beautiful. Work can be too.” …

To speak more directly to women, the retailer is also promoting more fashionable, sophisticated products — think brightly hued notebooks with black-lace patterns — and making changes to its marketing materials. “Women are the primary purchaser of office supplies. These are big decisions that are being made by women,” said Mr. Thacker (VP Marketing), who noted that women purchase $44.5 billion in office supplies per year. “This is a total repositioning of the company to realign with a customer that has not been addressed.”

Personal disclaimer – I visited the OfficeMax website and looked for their circulars…I am not feeling the love just yet…you got the right idea Mr. Thacker, let’s hope the execution will follow.

Frito-Lay, “Only in a woman’s World”…

“Marking the launch of Frito-Lay’s first comprehensive effort to reach women and grounded in the spirit of sisterhood, “Only in a Woman’s World” explores what’s top of mind with women today through light-hearted, comical videos, comic strips and interactive online content. Through its multimedia campaign, Frito-Lay is rolling out a portfolio of products developed specifically with women in mind.”

“Our efforts to connect with women are holistic – from the products we develop, to the packaging, to where women find them in-store, and to the way we talk about the products,” explains Gannon Jones, vice president, marketing, Frito-Lay North America. “We are developing a dialogue with women about relevant issues. Not just on food guilt, but topics like beauty, exercise and self esteem to show women they are not alone in these feelings and we can be okay with them.”

Ultimately, in marketing as in any other discipline, there is no silver bullet. Each campaign should be carefully planned, tested, and refined to hit the target’s soft spot. Women are in many ways more different than alike. The myth that we make our purchasing decision based on emotional impulse rather than rational evaluations is exaggerated and dangerously misleading. Men and women are both guilty of that myth to some extent, but take my word for it; it will take more than slapping on some pretty colors on your product to make women buy it. The product fundamentals, including functionality, quality and price, have to meet a certain competitive threshold and the value proposition has to be relevant– once that is accomplished then sure, make it pink and I will be happy.

PS: Harley riders tell their stories…

In a previous blog I wrote about the power of storytelling…motorcycle industry’s icon, Harley Davidson, has create a website specifically for its women riders and are using storytelling in a very personal format—perfectly positioned for women. See http://www.harley-davidson.com/EX/KNO/WOME/en/storiesf.asp?locale=en_US&bmLocale=en_US&HDCWPSession=BYlcJXlY4T8t7ghsqvBvqQPYX8mTJQm23Dc2zKdLmJLG2HRGvTZs!-1597079316!1753878253

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