Marketing to the

Female New Home

Buyer

Linda Hebert

Owner, Diversified

Marketing and

Communications

Pleasanton, CA

Female Buying Power...

A force to be embraced

Why all the Female-Centric fuss anyway?

Women have evolved as has their buying power

Nearly 85% of all advertising budgets target women

31% of all new business

owners are Female Fastest growing

segment of financial gain

Why wait?

Women are tying the knot later

Pursuing more higher degrees

Close the salary gap

Note: Never-married women now earning 94 percent of what their single male counterparts do.

Indeed......

2010 marked the first time that women outnumbered men on the country’s payrolls

According to University of Chicago economist Casey Mulligan

Reason...

Ironically, the beleaguered economy may be giving women, particularly younger ones, their biggest shot at home ownership

In the financial and manufacturing sectors mostly men took it on the chin first

In 2008 alone, more men than women lost their jobs by a ratio of three to one.

“Forget China, India, and the Internet: economic growth is driven by women.” The Economist magazine

U.S. Women are a $7 Trillion market —

Their purchasing power exceeds the economy of Japan and constitutes the 3rd largest market in the world

Additional Female Buyer Data

Women control family finances in 90% of US households and sign 80% of all checks

Women influence the decisions for 91% of all homes sold; they solely or jointly own 87% of all homes in the US

Women are the primary influencer in 90% of all remodeling purchases

Lending and divorce rates are a factor......

Barely a generation ago, an American female couldn't get a mortgage without a male cosigner

Divorce rates soared, prompting the passage of equal-lending laws

Result?.....

Women make up about 21 percent of borrowers, up from 17 percent in 1998.

During divorce women receive up to 70 percent of marital assets including the keys to the family house, or the means to find a new one.

The REAL Stats...

Joint Center for Housing Studies says:

More than one in five home buyers is a single woman.

Twice as many unmarried women are buying homes than single men.

Single women make up more than one-third of the growth in real estate ownership since 1994.

Make up of the female home buyer

Women home buyers come in all sizes,

shapes and ages

Divorced

Never married

Widowed

Some have children

Live with friends or partners

Live alone

Not All Women are the same

Female Subsets

Women are waiting longer to marry so it makes sense that single women represent more than 20% of new home buyers, and more than 40% of these women are first time home buyers.

More than 50% of women are living alone, single mothers represent 30% of all women plus windows, divorcees and those living with other adults.

Subset: Single Women

Top Three Reasons Unmarried / Single Women Buy a Home

Strong desire to own her own home.

Need more space or want smaller home.

Relocate closer to job, school or family.

Trends for Single Female Home Buyers

3 out of 4 women spend less than $200,000

Prefer 2 bedrooms or more

Buy in city over suburban areas concentrated more in the Northeast and South

Will compromise size & cost to get other amenities

Source: Smart Money Magazine

Will not compromise on location or quality of neighborhood

Slightly more likely to buy condominiums with well run homeowner associations over single family homes

Women are developing new approaches to housing, i.e. co-housing communities

Smaller spaces are acceptable

Trends for Single Female Home Buyers

Desire security and / or gated access

Like to engage in social interaction with neighbors

Want close proximity to stores, shopping and fitness centers

Trends for Single Female Home Buyers

What are they looking for?

security (more)

maintenance (less)

organizing hectic lives (example: walk-in pantries and drop zones for groceries)

carefully chosen aesthetic flourishes

Bragging rights

General marketing trends.... Reduce the intimidation factor

paint-color psychology and spa nights

Female only buyer seminars

Cooking demonstrations

Jewelry design or hobby parties

Massage coupons or table set up in model

Mark Patterson, a builder in Maine, is considering holding an educational session on menopause to draw more women to his development, complete with a comedian to keep the event light

Female features?

Wall-mounted gift-wrapping stations with retractable shelves

Serenity packages that include noise-muffling walls to drown out upstairs laundry machines

Hidden storage in the bathroom walls for reading materials and feminine products

360 degree mirrors

Security systems

Recycling systems

It’s in the DNA... Women like to share!!!

- Best referral

- Best advocate

AND adversary

- LOVE to brag

about great

purchases

Enhance the buying experience for a

female and she will be your biggest

advocate... Use business as usual

techniques and design and you will

have lost the largest buying power

in the country

Embrace her and your sales will grow

exponentially – it’s where the dollar$ are!

Melissa Morman, Chief Client Officer

Probably know us more by our solutions…

Psychological Drivers

Learnings from other Industries

Your Online Presence

Credit to the sources…

Play big, inc

Why she buys, by Bridget Brennan

Female Factor

She-hive compilation, 2007

Don’t think Pink: What really makes women buy, Lisa Johnson & Andrea Learned

Kate Thorp of Real Girls Media Network

NAR

US Dept of heath and Human Services

The Female Brain, Louann Brizendine, MD

Womanwise

The female brain, mad co ukk green study

Dynamic Logic + Millward Brown

Why targeting women wont lessen your product appeal, Marti Barletta, AdAge

We have come pretty far already…really…

MEN & WOMEN… BEAUTIFULLY COMPLIMENTARY

WE ARE JUST PLAIN WIRED DIFFERENTLY…

Our brains are shaped differently…

Larger areas for emotions and memory

11% more neurons in brain centers for language and learning

More brain circuitry for observing emotions in others

Very different reactions to stress and conflict

We actually do think differently…

Males are Analyzers, Females are Synthesizers

Areas of Difference Masculine Feminine

Intellectual Function Linear, analytical, ‘spotlight’

Whole brained perspective ‘floodlight’

Base Reaction Action Feeling

Stress Response Fight or Flight Tend or befriend

Innate Interest Innate interest in things Innate interest in people

Survival Strategy Self interest, hierarchy, power, & competition

Relationships, empathy, and connections

Mental Preference Hard wired to systematize

Hard wired to empathize

We actually do think differently…

Male brain at rest—most activity is in primitive area (survival, fight or flight)

Female brain at rest is in limbic (feeling centered)

Women have greater ability to connect left hemisphere (logical, linear) with right (emotion and intuition)

Women can better access diff parts of the brain and diff ‘thinking styles’ when problem solving

Females use more emotional and intuitive parts of the

brain in combination with more reasoned approaches

As a result… Women have unique aptitudes

Verbal agility

Ability to connect deeply in friendship

Near psychic ability to read faces and tone of voice

Ability to diffuse conflict

And experiences…

Prefer less solitary work

Greater desire for community and interest in ‘greater good’

Higher rates of stress, exhaustion, and depression

And we look at our worlds differently….

Understand the world by breaking things down into their component parts and establishing principles that explain the underlying behavior

Understand the world by putting themselves in other people’s shoes and feeling the emotional atmosphere between people

“I can relate to your experience” (and want you to relate to mine)

“What’s broken? Let’s fix it.”

And we feel differently about how the world treats us…

GOOD thing happens

BAD thing happens

Attribute to self/ability

Attribute to (good) luck

Attribute to (bad) luck

Attribute to self/ability

Or for those of you who need a simpler graphic…

Resulting Marketing Gap & Opportunity…

85% of women today claim that brands don’t understand them

More than 1/3rd of Moms are offended by the way they are depicted in advertising

68% would like to be spoken to as more than just a mom (esp younger moms)

Altruism

Authenticity

Order (design)

Community

Experience

Inspiration

Empathy (be real)

Getting it done (multi tasking)

Taking care of Self (indulgence, escape)

Vital connectors: how to connect with the female buyer…

LEARNINGS FROM OTHER INDUSTRIES….

Proctor & Gamble

You would think they would know females, right?

WRONG!! (self admitted)

Studied women in their homes

More time prepping vs mopping

Hated wringing out dirty mops!

Revolutionized floor cleaning! Interesting phenomena…no

female voice (even though

female execs)

More women travelers… ‘The Experience’

Products are a reflection of me….

Clothes

House-wares

Entertaining

Getting it done (multi-tasking)

Minuteclinics!

BMW gets it!

Gourmet coffees

Kids room

Napping room

Private conf rooms

Real hand towels in restrooms

Shopping!

Don’t forget the online experience!

Your Online Presence

Your Online Presence

Multiple items on the screen; fast filtering

Expand the mission

Lifestyle first; product second

Women scan

Want more product detail; need to feel empowered

Stick to the mission

Product first; lifestyle second

Men dig

Guess what—web developers have been mostly male…

Major redesign this year…

From ‘listings’ to ‘interactive media’

Lead w media player

Interactive floor plans

Video

Photos

Dimentional renderings and plans

Showcase of options

Oh, and what about the guys?

Meet her expectations and you will exceed HIS

Rule of thumb—meet her expectations, and you will exceed his…

Certainly don’t dump on guys…gals don’t like it…

And the lines are blurring…more men are taking on more traditional female roles so needs are aligning…

And we are now seeing men wear girdles and purses!

And if we try, we really can do better than this…!!

Marketing To Woman

A Builders Perspective

Mark Patterson

PATCO Construction, Inc.

Sanford, Maine

We start by listening ….

• There is a difference in the way

that men and women approach

the process of building a new

home.

• PATCO has taken the time to

really listen to the needs of our

female customers - and the

result is a better product.

• We recognize the importance of

relationships and strive, from the

very beginning, to build trust.

• We honor the symbolism of

“home”.

According to The National Home Builders

Association, women make 91% of the

decisions regarding the purchase of a new

home.

What’s The Buzzz? Woman-Centric Marketing!

In 2008, PATCO secured the

exclusive rights to design

and build Woman-centric

homes in York,

Cumberland, Sagadahoc,

and Androscoggin

Counties in Maine, and

Belknap, Strafford, and

Rockingham Counties in

New Hampshire.

Building a Woman-centric home requires looking at new home

design from a different point of view – hers.

Old “Showroom” = stuff on a wall.

• Women are

more visually

oriented than

men.

• Give her room

to move around

and really see

your selections.

• Organize for a

smoother sales

presentation

that doesn’t

overwhelm!

Selection - or clutter?

Make her visit a

remarkable

experience!

PATCO’s unique New

Home Personalization

Studio is a delight of

colors, textures - and lots

of thoughtfully presented

product choices!

Dot your “I’s”

•Interact

•Involve

• Inform

•Innovate

•Inspire

Think of

everything!

Building a new

home is a family

affair!

PATCO’s Kid Zone is

stocked with movies,

books, and toys so

Mom can focus on

making her color

selections - and still

keep an eye out! 6,715 Visitors and Counting

“ How will you, as my

Homebuilder, make my

life easier?”

“Let me show you …”

Whenever possible, demonstrate

The products.

Give her plenty of information!

Solve Her Problems!

The Problem

“I once found two boxes

of seashell pasta “lost”

in my Lazy - Susan …

after I’d just bought

three new ones!”

The PATCO Solution

A reach-in pantry is a

standard feature in all of

our homes. It makes it

easier for her to:

• Take stock at a glance, no

more under or over buying!

• Hide away small

appliances, freeing up

counter space.

The Problem

I’ve got so many hair care

”tools”, my vanity is a

tangled up nightmare …

and probably not very

safe”

The PATCO Solution

Our showroom offers

many products that

will help to make her

life more convenient:

• Our Vanity Valets,

available in several

styles, clear up the

clutter and make her

morning hair care

routine easier - and

safer!

The Problem

“Junk drawer, junk on my

counter, coats, keys, and

backpacks on my island - it

makes me want to

scream!”

The PATCO Solution

Our standard rear foyer

“Drop Zone” gives her

back her kitchen:

• There are all kinds of

special places to organize

mail, toss out the junk,

keep the keys, and more!

• Outlets to recharge cell

phones, laptops, MP3

players, and tablets.

PATCO offers products that

help make her life easier.

PATCO offers products that

help make her life more fun!

Life is more interesting in color!

Help her see, at a glance, how her home will “live”

Finally About HER!

Match her lifestyle

to her house style!

Claire Elise Margo Maggie

PATCO’s website is open and friendly!

We focus on the house and the home.

We keep in touch every step of the way.

Quarterly newsletters, email blasts, 24/7 online access to info!

Marketing is talking about your product …

Speak from the heart.

She’s more

than a wife

and mom.

Take the time to

become a part

of her world.

It’s not just

about marketing …

it’s about caring.

PATCO has been

providing funding

support to The

Maine Breast Cancer

Coalition Support

Service Fund for 4

years.

We were honored to

receive the 2011

Maine Leadership

Award For Breast

Health.

One Thing We Learned

Very Quickly…

Designing homes from a

Woman’s perspective, is

Simply GREAT design -

For everybody!

What’s the key to marketing to women?

Be real. Be trustworthy. Be dependable. Be there ….

… just like her.

patcoresidential.com

Q&A

Linda Hebert lindadmc@

mindspring.com

Melissa Morman mmorman@

builderhomesite.com

Mark Patterson mark@patco.com