Investment and Technology

Women account for over 60 per cent of start up businesses, influence over 80 per cent of all consumer purchase decisions and represent 52 per cent of all university graduates. Every savvy marketer needs to understand that women are a worthwhile market, AMANDA STEVNS told delegates at the conference of Major Superannuation Funds last month. Here is a summary or her presentation.

One of the keys to successfully marketing to women is to first understand and appreciate that men and women are fundamentally different.

Neurologically, a man's brain and a woman's brain are different (apart from where they're located), and applying this information to your marketing campaign can yield results.

Men and women process information differently, but to date this knowledge has been applied to relationships, hence books like 'Men are from Mars, women are form Venus' and 'Why men don't listen and women can't read maps'. However, marketing is just about forming relationships on a larger scale.

Generally speaking, the male brain is organized, compartmentalized, structured and focused. The female brain on the other hand, is random, complicated, and haphazard. It has a web-like structure. Things like status, winning and being superior are important to men because they're striving to differentiate themselves from other men, but women are inclusive people who focus on affiliation.

A woman says: "Your birthday is in June! Wow mine's in July!" They want to feel a connection. Women find it easier to talk about their emotions, and use language to bond and nurture, while men use language to transmit facts and data.

To attract the attention of women, focus on the things they find engaging such as people, emotions, stories and relationships.

Objects, shapes and structures won't grab or hold their attention.

In any marketing campaign targeting women, remember that the modern Australian woman is juggling multiple roles and is multi- dimensional. She doesn't want to be pigeonholed into any particular role, and 'busyness' is the new status symbol. She has a strong sense of sisterhood and her inner circle of three or four close girlfriends play an enormous role in purchasing behaviour.

Broadly, there are three emerging trends among women. Firstly, women are returning to femininity and saying 'Hey, its okay to be girly again'. That's reflected in both the products and attitudes they adopt.

Secondly, women are a mix of extremes.

They are often fill of contradictions, but that creates a sense of balance. She may insist on 'skim' milk while eating a bag of chips. She may be closing a big deal at work, and baking a cake with her son later that night.

Lastly, the might of the mini-group is increasing.

Women need girlfriends and there's a dramatic rise in party plans, scrapbook groups and reading clubs.

Overall, women are more aware of the various stages in their life than men. When these stages kick in, such as a change in job, a marriage, kids or retirement, women are more open to change. These stages often trigger lifestyle changes.

Practically marketing to women involves three basic factors: acquisition, retention and maximization. There are a number of different strategies in the 'SheMarketing Maximisation Model' that Splash Consulting has developed, but four of the key strategies are outlined below.

Strategy 1: Peripheral media activities

In other words, slipping information into her periphery without her knowing it. It's all about finding new and interesting ways to deliver the same message.

Strategy 2: Multi - dimensional selling proposition

A multi -dimensional offering is just as important, if not more so, than a unique proposition. Because of the structure of the female brain, women are more likely than men to relate incoming messages to more facets of their lives. They're thinking about work and career; home and family; friendships; and health and fitness; all the time. They are three women in one. Women take responsibility for the home and have a growing financial and personal responsibility.

Strategy 3: Emotive rapport building and proactive communications.

Women process information more emotively and commonly leave relationships because of lack of recognition. If there are milestones in their lives that they're proud of, then they want to be recognized. With women the little things are often the big things. They remember anniversaries, special locations and moments, and similarly, think their product and service providers should remember little things like, this is the third time I have bought something here this month, or I have been a customer for three years. A rewards program, such as a 10 per cent discount on the next purchase or a loyalty card, may be all the recognition necessary.

Strategy 4: Anticipatory marketing activities

This strategy is basically, 'if she ask to ask, it's too late'. Pre-marketing is important, and if you can deliver the solution before they have even identified a need, that's inspirational.Think about the common frustrations of women, even those not directly related to your segment, and work to solve that problem.

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