25 Mar Women Buyers, What’s the Secret?
Women make up 51 percent of the U.S. population, have $7 trillion in purchasing power, and account for over 80 percent of consumer spending, according to several economic sources.
Since statistics show that women have incredible buying power, it would behoove you to know what makes women buyers tick.
Ask any man and his response will be, “How the heck would I know? Who knows why women do what they do?” Yes, women do think and act differently! How do you tap into the female buying brain? Well, first of all, you have to understand that it is not a good idea to stereotype. Not all women are the same. You need to know what motivates YOUR woman buyer.
As stated in an earlier Online Biz Smarts blog post: Is there a secret to reaching the female mind? Yes, and here it is: women want to feel good. Make a woman feel good and she is yours!
What is meant by “feel good?” A human being’s motivation to feel good is rooted in the “basic impulse to optimize well-being, minimize physical pain and maximize pleasure.” from Wikipedi.
Consider the women buyer‘s “why,” her raison d’etre or reason for living. How do her purchases reflect the life that she wants to live? What is it that she needs for a sense of well-being? Does your product or service provide that?
Women buyers want:
- to enjoy life, not just live the daily grind.
- to feel personally enriched and to achieve personal growth.
- to reduce their daily stress and they like simplicity.
- to feel rewarded for their work.
- to search and hopefully find meaning in life.
- to be connected with their families and communities.
- to feel unique and beautiful.
- to feel that they are “giving back” and making the world a better place.
Look at the magazines that women buy and read: Real Simple, Oprah, Family Circle, Parenting, and Vogue, just to name a few.
In addition, understand and speak to your women buyers’ values, habits and personality. (source: Insights in Marketing) Her values are priorities in her life. Habits are daily behaviors that she does without even thinking. Personality is her way of behaving that makes her unique and different
How do you use this information about what motivates women buyers?
First, identify and describe in detail your particular women buyers.
Second, ask yourself whether your product provides the solution or answer to one or more of the “wants” above?
Third, how do you describe your product/service so that it conveys the solution effectively? Is it conveyed in your branding? Note how just the name of the magazine “Real Simple” conveys that it has solutions that will reduce daily stress and simplify lives.
Fourth, are you communicating through channels that reach the women buyers? Where are they online? What attracts them? For example, what images can you use that convey your branding and your answer to what women are looking for?
In conclusion, the secret about women buyers is that there is no huge secret! Women are motivated by what makes them feel good, and their decisions are influenced by their values, habits and personalities. If you understand your women buyers, you will be able to speak more directly and intimately with them, and earn their loyalty.