What is marketing?
Marketing’s very definition is adding value to where consumer’s attention is. Consumer attention has evolved to be in different mediums over the decades, first it was on newspapers, moved to radio, then evolved to television, moved onto the home computer, now it is on the consumer’s smartphone. There are lessons to be learned from this. History will show us that companies that did not adapt to the new attention mediums went out of business while others thrived. In the 90s when some companies where told that TV was the next hottest thing did not believe it and kept pumping money into their radio campaigns. This proved to be an expensive lesson for them as most of them went out of business.
We are going through the same transition of attention (moving from traditional internet on computers to our smartphones) the same tragedies that other companies have faced in the past are present now. Companies are spending millions of marketing dollars on television and desktop web advertising. As much as it is a pitfall it is also an opportunity for other companies to thrive. Companies that can adapt and adjust their marketing to focus on where the consumer attention is will thrive. The question Man vs. Women marketing to either one depends on which gender spends the most time on the most engaging attention medium (smartphones).
Research shows that:
- Women spend more time on the mobile web(smartphones and tablets) than men.
- Women are on social networks 40% more that men.
- Women makeup 85% of brand purchaser and At least 75% of women in households do most of the shopping.
- Mums spend at least 6 hours a day online.
Pinterest one of the leading mobile platform has women forming over 85% of their userbase. This represents a massive marketing potential for companies. The same would be true for Facebook and Instagram where women spend most of their time on these platforms and have the most engagement.
Gone are the days when women were just home makers:
In today’s world, women have got great influence on decisions when it comes to purchasing not just cosmetics and jewelry but products such as household goods. This includes big purchases like cars, houses etc.
Many companies are beginning to realise that they need brands that mainly target women. Lately a lot of companies have been have been directing brands to reach out more to women Not only in services and retail but also in sports. One perfect example is in sports. Male supporters dominate the NFL league and recently they have been acting real quickly to try and capture the female audience so they can cash in. Interesting Right?
But what angle did they use to penetrate the female segmenting in order to increase sales?
All they did was to change their advertisement slot by focusing on products that are more female oriented such as getting a female superstar to perform on super bowl, and advertisement that were female oriented, which in America commands about 4 million viewers.
Sad to say they are seeing the right trend but that they are directing their millions of advertising dollars to the wrong platform they should be putting those dollars towards Facebook advertising and Instagram (which is trackable and this is where women are spending most of their time, women don’t spend most of their time watching the Super Bowl, even during the Super Bowl it is a well-known fact that people have second screens and do not watch the advertisements but turn to their second screens (mobile phone)
Is it really worthy it? Marketing to women
- APPLE IS AN EXAMPLE OF A COMPANY THAT HAS it right with women. A lot of women trust apple because they always deliver what they promise. That is being user-friendly, high quality and lifestyle, which is passionate. Mums are really busy and don’t want to spend time on complicated gadgets and that’s were Apple got it right. As a result they continue to build up their relationship with women.
- Another good example is a TV adverts by Old Spice. Old spice is a deodorant that is made for men but females account for more than half of the purchasers. So they came up with an idea to do the advert that was highly targeting women and they themed it “the man, your men could smell like”. The advert did not only go viral, but sales were increased by 100%.
If women are the main decision makers in variety of products, with research showing that 85% of women are, then its high time a lot of companies started marketing to females. Companies should take advantage of the ever-changing environment and gain competitiveness, by considering women as separate entities from males. It has been shown that when women have better word of mouth than men. Before companies start designing their products, they should reverse engineer the sale. Start thinking of who they want to sell their product to, where does that person spend most of their time? Start by seeking ideas from females, if their target market is women. Women will only buy products if they know the product will bring them value. So it is imperative to involve them in their marketing research, through the developmental stages of products and if they are satisfied they wont hesitate to spend their dollar even on premium priced goods. Companies should be harnessing the powers of tools like Twitter search and searching for certain keywords relating to their products and then engaging with these audiences by listening to them and providing value to them. The main point here is that brands should always be engaging with their female audiences to see what their needs are and how their companies can make products to provide for those needs. The constant question they should be asking themselves is how do they provide value to customers, value that customers value not value that the brand values.
Man Vs. Women: is it really worth it? I would put my money on Women for now. We have to understand that consumer behavior/attention is constantly evolving and shifting to different platforms and mediums. Five or ten years from now it might be men that might be worth the marketing research but until then I’ll bet my bottom dollar on women. It is the marketer’s job to constantly monitor consumer behavior and adjust accordingly.
Dunham (no date) Available at: https://jamiedunham.wordpress.com/2013/02/24/marketing-to-women-breadwinner-wives/
Holland (no date) Available at: http://she-conomy.com/category/marketing-to-women
Matine (2016) Available at: http://www.theguardian.com/media-network/2016/mar/02/marketing-women-advertising-gender-equality
Marketing 101 – Social Media vs Traditional Media, Retrieved from: http://www.adweek.com/socialtimes/social-vs-traditional-media-marketing/466873
Skoloda (no date) Available at: https://www.ketchum.com/marketing-women
The ultimate list of marketing statistics, retrieved from: http://www.hubspot.com/marketing-statistics