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Therefore, it is critical for marketers to learn about the values lifestyles of their audiences. Listen and watch their preferences and how brands fit into their lives. Do not rely on stereotypes or your own unconscious bias.

Women Have Buying Power

Women are shoppers. But, not in the stereotypical sense. In western countries, Women have built very strong purchasing power, and it is becoming more common for them to earn more than their partners. In 2013, 40% of women earned equal to or more money than their husbands and this number is up from 25% in 1990.

Women not only are responsible for a significant percentage of household shopping, but they also prefer to influence purchases in important ways (think of men buying clothes or cars). Women are very conscious of how and where they spend their hard-earned money. In fact, more than 85% of women do business with companies that know the needs of female consumers. Considering that women are responsible for more than 80% of the purchases in the US, companies that cater to women’s needs will be more successful than those that do not.

Women’s Roles as Automotive Consumers

Women’s spending habits defy traditional roles. Take the auto industry, for example. Women are influencers in the automotive industry as they affect up to 80% of all new vehicle purchases as they by vehicles for themselves and their children after they become licensed drivers. Women are the ones who service their family cars (in 65% of customers) and they spend over $200 billion on their cars and servicing them. Women are clearly spending more time and money at car dealerships, but many automotive marketing campaigns fail to reflect these facts. Fraser Communications has done in depth research on women and how to communicate and market to them.

Create Marketing Campaigns for Women Using Brain Research and Financial Data

It is important for companies to evolve. Marketing campaigns should be designed using useful data regarding the brain as well as shopping and spending habits of potential customers. Businesses that want to be successful understand how and why women see the world differently than men do.

What Creates Loyal Female Customers

When women feel like they are understood, they are more likely to buy products. Women who have purchased cars do report that they are not understood by those who sell and service vehicles. Understanding and respecting the needs of women is necessary for companies and their marketing plans to go to the next level. When women feel they are being treated with respect by a company or brand, they become loyal. Women will pay more for quality, respect and peace of mind. If they feel they are being taken advantage of because they are women, companies will never see those women again. Sometimes it is “in the details” for women. Small differences and signals make a difference. Listening carefully to women and asking what they want is a critical starting point.