Women control or influence 85% of all consumer brand purchases.
How should advertisers market to women? Stephanie Holland of the “She-econonomy” blog was one of several fantastic speakers at the recent Southeastern P.R.S.A. 12, who spoke about the changing role of women consumers, particularly since the recession. “Women have changed and we’re not getting put back in the box,” said Holland who used as one example the need for “life stage”s rather than ages of women in characterizing them. “A 40 year old female might be the mother of a toddler or she might have a child in college.” Advertising has changed forever thanks to social media, women and money she said. “We no longer trust the government, corporations or big business but we trust each other, ” said Holland. “The consumer is in control.”
Some other interesting facts presented by Holland:
83% of women are busier than ever but they are not willing to give up anything
36% of women hold a bachelor’s degree
28% of men hold a bachelor’s degree
70% of all new businesses are started by women
4 out of 5 stages of the purchasing process are led by women
85% of all consumer brand purchases are controlled or influenced by women
BUT 91% of women do not feel advertisers connect with them. Holland says brands need to “listen and engage with women for success.” Holland showed this amusing video to illustrate the big disconnect between what advertisers think and women’s real consumer behavior. What are your thoughts? If you are female, do you relate to the woman in this video? (I know I do!)
Follow me on twitter @MarketingMel.
I think the statistic of 91% of women don’t feel adverisers connect with them is astounding. I bet a lot of men feel the same way.
Interesting that you believe men would feel the same way about advertisers Bill!
Thank you for sharing. I always find marketing statistics fascinating. The video was hilarious, too.
I think all women have a good laugh at that video Tiffany!
The video is funny and sad at the same time, Mel. I do love the stats – there is so much sea change it’s hard to know how best to look at all the pieces of it.
Thanks Sue. You’re correct about the sea change in women as a powerful force as consumers.
Those are some shocking statistics and I relate to most of them. Loved the video!
Thanks Kristen! I think all women relate to that video!