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She's Got the Power!

Jerry Myers of Marketing Profs says the "4 P's of Marketing" has changed from Product, Positioning, Place and Price to Purses, Pumps, Pearls and Power ... He points out that women now are responsible for spending 85 cents of every dollar! When I started in marketing 10 years ago that figure was 60 cents per dollar spent. We've come a long way!

Here are some updated statistics to keep in mind:

Women account for 85 percent of all consumables including everything
from autos to health care
91% of new homes
66% personal computers
92% vacations
80% health care
65% new cars
89% bank accounts
93% food
93% OTC pharmaceuticals

Here are some more enlightening facts:

Women represent the majority of the online market
Women process information and make different purchasing decisions than men
59% of women feel misunderstood by food marketers
66% of women feel misunderstood by health-care marketers
74% of women feel misunderstood by automotive marketers
84% of women feel misunderstood by investment marketers
91% of women feel advertisers don't understand them at all!
70% of new businesses are started by women

(Statistics by Scott Heidbring of Styling & Performance, September, 2007)

Here are a few suggestions to keep your female customers happy!

Have ample parking or be prepared to valet park for her.

Greet her warmly with a smile when she enters your premises.

Listen to her without interruption when she is talking to you and make eye contact. If you don't make eye contact, she won't think you are really listening to her.

If she has to wait for her car to be serviced have new magazines that she will enjoy. Motor Trend Magazine (although I do subscribe to keep current on all things automotive) and Sports Illustrated Swimsuit issue are not acceptable choices.

Explain what needs to be done to her car. Answer her questions and don't come across as impatient or a know-it-all. Have a good "car-side manner."

Let her know you appreciate her business by thanking her warmly when she leaves.

What NOT to do!

Having "pin up" posters of women in your shop is not acceptable. Don't have them taped to tool box lids either!

Call her by her name and not "honey," "sweetheart," or some other term that coming from you would sound condescending at best. When her husband or significant other calls her those names, she appreciates it but when you use it, she just thinks you forgot her name.

I hope you find this helpful and if you have questions, feel free to call. Next month's tip will deal with the most powerful women of all, the baby boomer woman!

For those of you who expressed interest in the on-line weekly 10-minute marketing class, we plan to launch this in February. I'll keep you posted with all the details.

NWZ WORX will be closed to celebrate the Christmas and New Year Holiday December 24 - through January 1. In case of an emergency, call 513-378-0003.

It has truly been my pleasure working with all of you this past year and I look forward to our continued association in 2008!

Wishing you all the best for the New Year!

Rhonda