Marti Barletta | Women Make Chicago Chic

© 2010 Marti Barletta & The TrendSight Group

Women Make Chicago CHIC

Marti BarlettaCEO, The TrendSight Group

847-446-5861

American Marketing AssnChicago – Jan. 27, 2010

Perception vs. Reality

Perception: The “Poor” Story• Women earn less than men

• Women are struggling against the

glass ceiling

Reality: The “Power” Story

Women learn, earn, spend, invest,

volunteer, donate and vote

more than men

Primary Breadwinners

• Bring in half - or more - of household income in 55% of US HH (WSJ, Nov 1997)

• 1 out of 4 USHH is headed by single female (US Bureau of the Census)

Women Earn More

Some Wives Earn More Than

Husbands – 31% of all women

– 1987 17%– 1997 25%

– 60% of women with MBAs– 70% of women earning

more than $100,000 (Business Week Online 2003; Washington Post 2000)

Learn & Earn

•College degrees 57%– Masters degrees 58%

U.S. Dept of Education, 2002

•College grads earn twice as much as high-school grads

Peter Francese, Amer. Demographics, 1/2/06

Top Professionals

Professionally speaking…

• 52% of Law School degrees • 46% of Medical degrees• 51% of Business degrees

(Risk Management and Insurance Review 2005,

Newsweek 2003)

Women Mean Business

Women are…• 49.8% of U.S. workforce• 51 % - the majority - of

professional and managerial positions – “Professional” includes

majority of accountants, economists, pharmacists, realtors

(US Bureau of the Census, 2007)

Women Business Owners

• Own 40% of U.S. companies (51%+ ownership)

• Account for 2 out of 3 new start-ups for past 15 yrs.

(Center for Women’s Business Research 2004)

Command Significant Assets

• Control 51.3% of U.S. personal wealth

(Federal Reserve Board 2000)

• 47% of individuals with assets >$500M

Women & Wealth

• By 2010, women will control 60% of U.S. wealthAllianz Women, Money and Power

study, iaam.org, Aug. 2006

• By 2019, women will comprise 2/3 of wealthy Americans

Advisor Today, Jan. 2002

Women Buy Almost Everything

“HH Chief Purchasing Officer” – 80% of HH buying - Even in historically male domains

• 50% of stock market investments (Allianz 2006)

• 55% of Consumer Electronics (Consumer Electronics Assn 2004)

• 60% of Home Improvement buyers;

80% of HI decisions (Lowe’s 2003)

• 52%+ of new vehicle sales; influence 85+% of all auto sales

(Road and Travel 2004)

Sources: “Ad Age’s Guide to Kids and Media,” Ad Age, 3/29/04, “The Missed Market,” American Demographics, 11/01, “Race, Ethnicity and the Way We Shop,” American Demographics, 2/03 from the Selig Center for Economic Growth at the University of Georgia* Calculated based on Consumer Expenditure Survey data and US Census numbers. Source:www.census.gov American Factfinder QT P1, www.bls.gov/cex/home.htm** Calculated based on. $7.68 trillion annual US consumer buying power X 80% of all consumer purchases. Sources: Selig Center for Economic Growth at the University of Georgia, “The Female Voice,” Time, 4/15/04

The Biggest Spenders – By Far

http://www.bls.gov/cex/home.htm

Sources: “Ad Age’s Guide to Kids and Media,” Ad Age, 3/29/04, “The Missed Market,” American Demographics, 11/01, “Race, Ethnicity and the Way We Shop,” American Demographics, 2/03 from the Selig Center for Economic Growth at the University of Georgia* Calculated based on Consumer Expenditure Survey data and US Census numbers. Source:www.census.gov American Factfinder QT P1, www.bls.gov/cex/home.htm** Calculated based on. $7.68 trillion annual US consumer buying power X 80% of all consumer purchases. Sources: Selig Center for Economic Growth at the University of Georgia, “The Female Voice,” Time, 4/15/04

The Biggest Spenders – By Far

http://www.bls.gov/cex/home.htm

Biggest OpportunityPrimeTime Women™

Women 50-70•Prime marketing target

•Prime of their lives

NumbersBoomers Moving Into

PrimeTime• 2006-2016 U.S. Adults +22.9

million* – 50+ = +22.1 million (96%)– 18-49 = Only 856,379 (4%)

• Adults 50+– In 2000 - 38% of U.S. adult pop.– By 2026, will be 49% U.S. Census

projections

This decade, all growth comes from

50+

MoneyHH Headed by Adults 50+

• Peak income: ~$53K vs $42K avg HH– Top of their careers– No plans to retire

• Peak net worth: $182K vs $86K avg HH– A lifetime of working– Dual earners

• Peak discretionary spending– Kids are launched– Per capita, A50+ spend 2.5X younger

adults

Spending More, not Less2.5X the Average HH

Spending

New cars/trucksMeals at restaurantsAirfareSports equipmentWomen’s apparelWine at home

55-64 HH index vs. 25-34 HH

120129138158164213

Source: New Strategist

2004-6

Overall, spend more than younger HH

Even if your category indexes average or low,

50+ population is the only source of growth

Today’s PrimeTime Woman

Healthiest, wealthiest, most educated, active, influential generation of women in history

Why “Market to Women?”

(Are Women Really That

Different?)

Male & Female Gender Culture

•Language and Customs•Roles in Society•Assumptions about

“Normal” •Ways of Making a Decision

Multi-Tasking

“On the Way” vs. “In the Way”

• The drug store• The Post Office• Stirring the soup

Multi-Tasking

Men “prioritize” …Women “maximize”

“On the Way” vs. “In the Way”

• The drug store• The Post Office• Stirring the soup

Women Buy Almost Everything80% of Consumer Spending

“HH Chief Purchasing Officer” –

• 53% of Investments (SIA 1998)

• 55% of Consumer Electronics (Consumer Electronics Assn 2004)

• 55% of Desktops; 55% of Laptops

• 60% of Home Improvement buyers;

80% of HI decisions (Lowe’s 2003) • 60%+ of new Cars (J.D. Power 1997)

Women Buy Almost Everything80% of Consumer Spending

Marketing to Women is about

•Share gain

• How do you get her to choose YOUR brand?

•Profit enhancement

• More loyal - comprehensive decision process & greater weight on relationships

• Word of mouth

How Win with Women?

1. People Power • Prospects, not Products• Feelings, not Features• Stories, not Status

2. Longer List3. Deciding Factor

Women Run On “People Power”

People are the most important and interesting element of any situation.

•Babies•Stereoscopes•Magazines

Men – “Things & Theorems”

• People are important, maybe - but hardly ever all that interesting.•Mark & Nancy

• Also interested in “things and theorems” •Cars, computers, etc.•Principles and concepts

Customer Services

…Shopping Assistant

“I’ll never forget the look on my mother’s

face the day I was born.”

Consumer Electronics

Home Improvement

Banks: Facts & Features

Banks: Lots of Facts & Features

Instead: Show People

Tell Their Stories

“My husband & I saw it was

necessary to learn how to handle

our money the best way we

could. We even took night classes

together so we could learn more

about finances and investing. Our

goal was to ….”

Men – Facts & Status

“Only 16.4 golf memberships

per hole.”

-“Private”

-“Privileged”

-“Select Few”

Show People, Not Places

Women – Feelings & Stories

“This morning, my daughter made her first birdie . . . she came running over and gave me a big hug.

And she said, “Mom, I will never forget this day.”

“What Do Women Want?”

Men – “The important things”

A Longer List

Women –The important things and more–Will go the extra mile to get it “just right”

Longer List“He Dropped the Ball”

• What do women want?• Want all the same things as men

…and then some

– Nokia “Ocean Blue”

Decision Criteria

The Deciding Factor

Deciding Factor

Westin Hotels Heavenly Bed

When you meet the expectations of women, you generally exceed

the expectations of men.

“Women’s Marketing” Expands the Appeal for Men



Consumer

Heartland

Insights

Central


MTW Central

Marti Barletta – Marketing to Women, PrimeTime Women

Bridget Brennan – Why She Buys

Pepper Miller – What’s Black About It?

Cristina Benitez – Latinization

Michael Silverstein – Women Want More


MTW Central

M2W© – Marketing to Women – April 21-22

M2M© – Marketing to Moms – October

M2G© – Marketing to Girls -

M2W-HC© - Marketing Health Care to Women – November

25% discount for AMA members!

Decision Process“Black Slacks”

Desired Outcome:

“A Good Solution”

How Men BUY

Decision Process“Black Slacks”

Desired Outcome:

“The Perfect Answer”

--ILLUSTRATIVE-

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© 2010 Marti Barletta & The TrendSight Group


Marti BarlettaCEO, The TrendSight Group

847-446-5861

American Marketing AssnChicago – Jan. 27, 2010