Power of the purse: How much are we talking about?

"Those who consider the women's market a “niche” market don't get it and will be left behind in the next five years.
Over 85% of retail purchases made in the United States today are made by women, and at least the next 10% are influenced heavily by women. Long the key holder to household purchases, women are now making or influencing purchases of big-ticket items for themselves and their families, including automobiles, personal computers and other electronics, and, well, you name it. In the corporate world, more and more women have risen to positions of purchase decision responsibilities. In short, then, women are buying for themselves, buying for their families, and buying for their businesses.

You must go deeper to develop relationships based upon interests, personal identities and affinities. . . women can be better defined by their interests and personal identities than by their gender, alone.

Jack and Jill have changed in the last 50+ years. Jill's buying for herself, for her family, and for her business. You don't need to know Jack; you need to know Jill, and know her well. Don't get left behind. We are talking about real money here. "
~~Marti Barletta, author of Marketing to Women

"Don’t “close” a sale -- open the relationship. Women value relationships and will be prone to trust you if they feel you are equally interested in creating a long-term relationship with them as opposed to just completing a transaction. That’s easier said than done. Your efforts will be rewarded by her dollars, loyalty and referrals if she finds you to be a trusted advisor who takes her success and well-being to heart."
~~Female Marketing Specialist Delia Passi Smalter

Insights on Selling to Women
By Valerie Otto

SELLING TO WOMEN

There are five basic factors to keep in mind when selling to women:

1. A woman buys with both her head and her heart.
She wants detailed information about product benefits and ingredients, and she is also looking for a pleasurable experience.

2. Women respond to convenience.
The biggest complaint women have is that they never have enough time. Their responsibilities leave them feeling rushed and pressured a lot of their day. If you save them five minutes, they'll be singing your praise all day.

3. Women can see right through any standard sales pitch.
In general, they respond to a Dale Carnegie rule that says, "People want to know how much you care before they care about how much you know."

4. Women often buy from the periphery.
Starbucks is a perfect example of how to take advantage of this. Notice how their stores have CDs on the counter; the coffee company knows women like music but won't usually take the time to actively purchase any.

5. Women care about whom they buy from.
They will pay up to 20 percent more for a product or visit a store if they feel that the business owner is trying to make the world or the community a better place.

If you sell to these characteristics and attend to a woman's style of buying, she will return more frequently to your store as opposed to others because it's a better experience for her.

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