XAlways Women The Whole Picture

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by Tom Peters http://www.tompeters.com/slides/special.php

by Tom Peters http://www.tompeters.com/slides/special.php

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  • 1. EXCELLENCE. ALWAYS. WOMEN. BOOMERS. GEEZERS. OPPORTUNITY. $$$$$$$$$$$. ENORMOUS. Tom Peters/11.02.2006/Version.153
  • 2. not. Yet. Done.
  • 3. women. BOOMERS. GEEZERS.
  • 4. women. BOOMERS. GEEZERS.
  • 5. Amazon Reviewer : “‘Trends’ [TP-MB book] is old news!” (1 of 5 stars) TP : “ Repeating it doesn’t make it ‘old.’ It ain’t old if it hasn’t been implemented !”
  • 6. What the hell do I have to do to make my point? Tom Peters/10.10.2006
  • 7. The Copenhagen (Self) Pact re “This Topic”: *Early! *Loud! *Repetitive! *Aggressive! * Un friendly!/rude!/ insulting!
  • 8. women. BOOMERS. GEEZERS.
  • 9. women.
  • 10. “ Forget China , India and the Internet : Economic Growth Is Driven by Women .” —Headline, Economist , April 15, 2006, Leader, page 14
  • 11. Women’s Trifecta+ * Buy * Wealth * Lead + ECLIPSE OF MALES (Old/Retire; Young/Poorly educated)
  • 12. Women’s Trifecta+ *Buy/ all *Wealth/ all *Lead/ better +Eclipse of males/ whoops (Retire-old/Poorly educated-young)
  • 13. 1. Women’s CONSUMER GOODS purchases . 2. Women’s COMMERCIAL GOODS purchases . 3. WOMEN ARE THE MARKET. Not an “initiative.” 4. Women - owned BUSINESSES (absolute #s, acceleration, relative growth). 5. Women’s “brand” of LEADERSHIP SKILLS. 6. women’s strengths match needs of the new “value-added ladder.” 7. Women’s DRAMATICALLY INCREASING-commanding WEALTH —absolute, relative. (Jobs. Longevity. Education. Entrepreneurial. Decline of BOYS. Retirement of MEN/Senior MEN.) 8. DEMOGRAPHIC TSUNAMI . WOMEN. Women as solo HEADs-OF-HOUSEHOLD. THE WOMaN- BOOMER-GEEZER. LOoooNG-TERM PHENOMENON. Global phenomenon. 9. SPEED of “change.” mother of all “ megatrends .”
  • 14. 1. Participation rate/2 of 3 new jobs, last 30 years. 2. Male workforce departures /SENIOR male workforce departures. 3. Shrinking pay gap/same jobs. 4. More senior positions. Greater decision- making/expenditure/org design authority . More line jobs. 5. Female solo head-of-household growing. 6. Longevity . 7. Education . 8. More effective money management .
  • 15. Not. Yet. Done.* Loyalty programs: M F “Difference” = Yawning gap (173+ degrees) Forced to do it: e.g., a division aimed at Boomer Women … Exclusively. Just say no to “trickle up”: Why have the 5% chase the 95%?) Men think they’re doing their share (helping, sure, but the buck stops with her); busy, busy, busy—think Jim’s Group) New forms of living together, playing together as aging proceeds (“commune”, Beacon Hill Assn, telemedicine, etc, etc, etc.) “Grab ’em early & keep ’em”: Total Unmitigated Crap (TP: 100% brand switch. 100%.) “They didn’t take it seriously” —German bank exec, Bonn, F This is not a $%^&ing “program.” This is “NEW Life 101.” This is Soooo Big it Staggers the Imagination. (Will be paramount “trend” for 20 years.) *The Copenhagen Pact
  • 16. women. BOOMERS. GEEZERS.
  • 17. Boomers. geezers.
  • 18. Boomers’-Geezers’ Trifecta *Buy/ all *Wealth/ all *time left/ lots
  • 19. Boomers’-Geezers’-Women’s Trifecta+ *Buy/ all *Wealth/ all *time left/ lots *Eclipse of males/ retire - die
  • 20. not. Yet. Done.
  • 21. Just Say “No” (!): Launch an “Initiative.”
  • 22. Ob j ections Don’t believe the DATA Don’t believe the ENORMITY of the opportunity Don’t believe the UBIQUITY of the opportunity Think they “GET IT” See it as an “Initiative” Flies in the face of CONVENTIONAL MARKETING WISDOM Don’t see it as … THE ESSENCE OF STRATEGIC POSITIONING Fail to understand-TAKE FULL ADVANTAGE “Everything must be changed” (It’s a “Culture” issue) Look at it analytically; miss the need for OBSESSION Subconsciously threatened!!?? Occasion to make JOKES
  • 23. You either believe “all this.” Or don’t. * *No middle ground at the level of Extreme Commitment I’m suggesting
  • 24. Don’t “get it” = Stupid * *and you are not stupid
  • 25. E-nor-mous Strat-eg-ic opp-or-tun-ity
  • 26. EXCELLENCE. NEW MARKETS. ENORMOUS. OPPORTUNITIES.
  • 27. women. BOOMERS. GEEZERS.
  • 28. EXCELLENCE. OPPORTUNITY. ENORMOUS. WOMEN.
  • 29. “ Idiot” is too kind a word.
  • 30. “ That’s a very diverse* team.” — Patrick Cescau, CEO, Unilever** * 1 of 14 Board of Directors members is a woman (not an exec); 2 of 7 Exec Team members are … Indians. (Source: FT/24-25 June.) ** Approximately 85 % of Unilever’s products are purchased by … women.
  • 31. “ That’s a VERY diverse team.” — Patrick Cescau, CEO, Unilever * ** * 1 of 14 Board of Directors members is a woman (not an exec); 2 of 7 Exec Team members are … Indians. (Source: FT/24-25 June.) ** Approximately 85% of Unilever’s products are purchased by … women.
  • 32. “ That’s a VERY sick man.” — Tom Peters
  • 33. “ Idiots” is too kind a word.
  • 34. ???????? Weenie of the year, 2006 …
  • 35. ???????? 6/44
  • 36. P&G
  • 37. EXCELLENCE. FOUND. DUH.
  • 38. “ To be a leader in consumer products, it’s critical to have leaders who represent the population we serve .” —Steve Reinemund/PepsiCo
  • 39. “ EXCELLENCE.” AARGH.
  • 40. 200 5
  • 41. Good Thinkin g , Gu y s! “Kodak Sharpens Digital Focus On Its Best Customers: Women” —Page 1 Headline/ WSJ / 0705
  • 42. EXCELLENCE. OPPORTUNITY. ENORMOUS. WOMEN.
  • 43. Just Say No . Men
  • 44. “ Women are the majority market” —Fara Warner/ The Power of the Purse
  • 45. ????????? Home Furnishings … 94% Vacations … 92% (Adventure Travel … 70%/ $55B travel equipment) Houses … 91% D.I.Y. (major “home projects”) … 80% Consumer Electronics … 51% (66% home computers) Cars … 68% (90%) All consumer purchases … 83% Bank Account … 89% Household investment decisions … 67% Small business loans/biz starts … 70% Health Care … 80%
  • 46. Women Household spending: 80% Investment decisions: 53% Home improvement purchase decisions: 80% New cars: 60%+ Computers: 60% Managers and professionals, overall: 51% New businesses started: 70% * (*Women-owned businesses as a share of all new businesses: Employee growth, 3X; Sales growth, 4X.) Source: Marti Barletta, PrimeTime Women (2007)
  • 47. USA/F.Stats: Short ’n (Very) Sweet >50% of stock ownership, $13T total wealth (2X in 15 years) >$7T consumer & biz spending (>50% GDP; > Japan GDP); >80% consumer spdg (Consumer = 70% all spdg) 57% BA degrees (2002); = ed & social strata, no wage gap 60% Internet users; >50% primary users of electronic equipment >50% biz trips WimBiz: Employees > F500; 10M+: 33% all US Biz Pay from 62% in 1980 to 80% today; equal if education, social status, etc are equal 60% work; 46M (divorced, widowed, never married) Source: Fara Warner, The Power of the Purse
  • 48. Women > 50% of Household Income in >50% of households. In 48% of the 55% of households/married couples, women provide >50% of income. 27% of households are headed by a single female. 75% of married female execs with the rank of VP or above out earn their spouse. Women control 51% of private wealth in the U.S.; head 40% of households with >$600K assets; 47% of market investors are women. Major Credit Union: pre Y2K, modal customer was 53-year-old family man; today, 46-year-old single working woman. Commercial: 51% purchasing managers are women. Women make >80% consumer purchases; businesswomen make >90% of household purchasing decisions. Women: 70% of travel decisions; purchase 57% of consumer electronics; write 80% of personal checks; purchase >50% of cars (primary influence >80%). Source: Don’t Think Pink: What Really Makes Women Buy—and How to Increase Your Share of This Crucial Market , Lisa Johnson & Andrea Learned
  • 49. 1970-1998 Men’s median income: +0.6% Women’s median income: + 63% Source: Martha Barletta, Marketing to Women
  • 50. Commercial Purchasing Power Purchasing mgrs. & agents: 51% HR: >>50% Admin officers: >50% Source: Martha Barletta, Marketing to Women
  • 51. Internet users: 60% * *“manage their lives and the lives of their families” —Kelley Mooney, president, Resource Interactive Source: Fara Warner, The Power of the Purse
  • 52. 91 % women: ADVERTISERS “DON’T UNDERSTAND US .” (58% “ANNOYED.”) Source: Greenfield Online for Arnold’s Women’s Insight Team (Martha Barletta, Marketing to Women)
  • 53. “ The most significant variable in every sales situation is the gender of the buyer, and more importantly, how the salesperson communicates to the buyer’s gender.” —Jeffery Tobias Halter, Selling to Men, Selling to Women
  • 54. Thanks, Marti Barletta !
  • 55. The Perfect Answer Jill and Jack buy slacks in black…
  • 56.  
  • 57. “ She knows more about the [Volvo] than the sales man who greets her at the door. But how is she treated? As if she has a low IQ , is slightly hard of hearing , and really has no right to be buying a luxury car; and if she brought a male friend with her, odds are 10:1 that the clueless salesperson spent most of his time speaking to him .” —Selling to Men, Selling to Women , Jeffery Tobias Halter
  • 58. EVEolution: The Eight Truths of Marketing to Women Faith Popcorn & Lys Marigold
  • 59. EVEolution : Truth No. 1 Connecting Your Female Consumers to Each Other Connects Them to Your Brand
  • 60. “ The ‘Connection Proclivity’ in women starts early. When asked, ‘How was school today?’ a girl usually tells her mother every detail of what happened, while a boy might grunt, ‘Fine.’ ” EVEolution
  • 61. Week #8: testosterone time! * *Louann Brizendine, Neuropsychiatrist, The Female Brain . Week #8/Testosterone surge kills : communication cells ; grows : sex & aggression cells . Also/E.g.: 10X to 20X, F eye contact/look for emotional signals by 3 months. Later: F, more sentences that begin with “Let’s …”; more likely to take turns
  • 62. “ Women speak and hear a language of connection and intimacy , and men speak and hear a language of status and independence. Men communicate to obtain information , establish their status , and show inde p endence . Women communicate to create relationshi p s , encourage interaction , and exchange feelin g s .” —Judy Rosener, America’s Competitive Secret
  • 63. “ Women don’t buy brands. They join them .” EVEolution
  • 64. Selling to men: The TRANSACTION Model Selling to Women: The RELATIONAL Model Source: Selling to Men, Selling to Women , Jeffery Tobias Halter
  • 65. Editorial/Men : Tables, rankings.* Editorial/ Women : Narratives that cohere.* *Redwood (UK)
  • 66. Purchasing Patterns Women : Harder to convince; more loyal once convinced. Men : Snap decision; fickle. Source: Martha Barletta, Marketing to Women
  • 67. “ The ‘Connection Proclivity’ in women starts early. When asked, ‘How was school today?’ a girl usually tells her mother every detail of what happened, while a boy might grunt, ‘Fine.’ ” EVEolution
  • 68. “ Women speak and hear a language of connection and intimacy , and men speak and hear a language of status and independence. Men communicate to obtain information , establish their status , and show independence . Women communicate to create relationships , encourage interaction , and exchange feelings .” —Judy Rosener, America’s Competitive Secret
  • 69. “ A woman can effortlessly speak 6,000 to 8,000 words a day, use an additional 2,000-3,000 vocal sounds and 8,000-10,000 gestures and body signals. A man utters 2,000-4,00 words, 1,000-2,000 vocal sounds and makes 2,000-3,000 body language signals. In other words, women communicate three times more than men .” —Barbara and Allan Pease (from Selling to Men, Selling to Women , Jeffery Tobias Halter)
  • 70. 2.6 vs. 21
  • 71. “ Women come out better on almost ever y count as investors … They are less likely to hold a losing investment too long, and less likely to wait too long to sell a winner; they’re also less likely to put too much money into a single investment or to buy a reputedly hot stock without doing sufficient research.” Source: The Merrill report: “When It Comes to Investing, Gender A Strong Influence on Behavior.”/ Atlantic
  • 72. 1. Men and women are different. 2. Very different. 3. VERY, VERY DIFFERENT . 4. Women & Men have a-b-s-o-l-u-t-e-l-y nothing in common. 5. Women buy lotsa stuff. 6. WOMEN BUY A-L-L THE STUFF . 7. Women’s Market = Opportunity No. 1. 8. Men are (STILL) in charge. 9. MEN ARE … TOTALLY, HOPELESSLY CLUELESS ABOUT WOMEN.
  • 73. 10. Women’s Market = Opportunity No. 1.
  • 74. P-l-e-a-s-e Read … Fara Warner : The Power of the Purse
  • 75. Cases! Cases! Cases! McDonald’s (“mom-centered” to “majority consumer”; not via kids) Home Depot (“Do it [everything!] Herself”) P&G (more than “house cleaner”) DeBeers (“right-hand rings”/$4B) AXA Financial Kodak (women = “emotional centers of the household”) Nike (> jock endorsements; new def sports; majority consumer) Avon Bratz (young girls want “friends,” not a blond stereotype) Source: Fara Warner/ The Power of the Purse
  • 76. Faith, L y s, Marti, Fara … Targeting the New Professional Woman: How to Market and Sell to Today’s 57 Million Working Women — Gerry Myers
  • 77. “ Goldman Sachs in Tokyo has developed an index of 115 companies poised to benefit from women’s increased purchasing power; over the past decade the value of shares in Goldman’s basket has risen by 96%, against the Tokyo stockmarket’s rise of 13% .” —Economist , April 15
  • 78. Case: McDonald’s Discovers … Women!
  • 79. 12.2002: $-344M *International *Build *Men & Children Source: Fara Warner, The Power of the Purse , “ From Minority to Majority: McDonald’s Discovers the Woman Inside the Mom”
  • 80. “ Mostly Moms” “ Women were either ignored in favor of focusing on men—generally considered the industry’s most frequent users and therefore its most important consumers—or they were cast in the role of moms who were simply conduits to their children.” —Fara Warner, The Power of the Purse , “From Minority to Majority: McDonald’s Discovers the Woman Inside the Mom”
  • 81. “ We simply had stopped being relevant to women.” — Kay Napier, SVP Marketing (Fara Warner, The Power of the Purse , “From Minority to Majority: McDonald’s Discovers the Woman Inside the Mom”)
  • 82. “ Women [in women-only focus groups] told us that all moms are women, but not all women are moms—so why weren’t we trying to reach all women? We realized we should be finding the woman inside the mom.” —Carol Koepke, marketing director (Fara Warner, The Power of the Purse , “From Minority to Majority: McDonald’s Discovers the Woman Inside the Mom”)
  • 83. “ McDonald’s shifted its strategy toward women from one of ‘minority’ consumers who served as a conduit to the important children’s market to one in which women are the company’s majority consumers and the main driver behind menu and promotion innovation .” —Fara Warner, The Power of the Purse , “From Minority to Majority: McDonald’s Discovers the Woman Inside the Mom”
  • 84. New! New! New! New! New! Women’s magazines [“a medium that McDonald’s had rarely used”] Source: Fara Warner, The Power of the Purse , “ From Minority to Majority: McDonald’s Discovers the Woman Inside the Mom”
  • 85. EXCELLENCE. OPPORTUNITY. WOMEN. BUSINESS. OWNERS.
  • 86. 10.6
  • 87. “ The growth and success of women-owned businesses is one of the most profound changes taking place in the business world today.” — Margaret Heffernan, How She Does It
  • 88. U.S. firms owned or controlled by Women: 10.6 million (48% of all firms) Growth rate of Women-owned firms vs all firms: 3X Rate of jobs created by Women-owned firms vs all firms: 2X Ratio of total payroll of Women-owned firms vs total for Fortune500 firms: >1.0 Ratio of likelihood of Women-owned firms staying in business vs all firms: >1.0 Growth rate of Women-owned companies with revenues of >$1,000,000 and >100 employees vs all firms: 2X Source: Margaret Heffernan, How She Does It
  • 89. 94 % of loans to … women * * M icrolending; “Banker to the poor”; Grameen Bank; Muhammad Yunus; 2006 Nobel Peace Prize winner
  • 90. WOMEN. DOMINATE. ECONOMIC. GROWTH.
  • 91. “ Forget China , India and the Internet : Economic Growth Is Driven by Women .” —Headline, Economist , April 15, 2006, Leader, page 14
  • 92. “ Economic Growth Is Driven by … Women .” — Headline, Economist , April 15, 2006, Leader, page 14
  • 93. “ Since 1970 , women have held two out of every three new jobs created.” — FT , 10.03.2006
  • 94. “ For g et China, India and the Internet: Economic Growth Is Driven b y Women .” [Headline.] “Even today in the modern, developed world, surveys show that parents still prefer to have a boy rather than a girl. One longstanding reason boys have been seen as a greater blessing has been that they are expected to become better economic providers for their parents’ old age. Yet it is time for parents to think again. Girls may now be a better investment.” “Girls get better grades in school than boys, and in most developed countries more women than men go to university. Women will thus be better equipped for the new jobs of the 21st century, in which brains count a lot more than brawn . … And women are more likely to provide sound advice on investing their parents’ nest—e.g.: surveys show that women consistently achieve higher financial returns than men do. Furthermore, the increase in female employment in the rich world has been the main driving force of growth in the last couple of decades. Those women have contributed more to global GDP growth than have either new technology or the new giants, India and China.” Source: Economist , April 15, Leader, page 14
  • 95. Continuing on page 73: “ A Guide to Womenomics: The Future of the World Econom y Lies Increasin g l y in Female Hands .” (Headline.) More stats: Around the globe since 1980, women have filled “two new jobs for everyone taken by a man.” “Women are becoming more important in the global marketplace not just as workers, but also as consumers, entrepreneurs, managers and investors.” Re consumption, Goldman Sachs in Tokyo has developed an index of 115 companies poised to benefit from women’s increased purchasing power; over the past decade the value of shares in “Goldman’s basket has risen by 96%, against the Tokyo stockmarket’s rise of 13% .” A couple of final assertions: (1) It is now agreed that “the single best investment that can be made in the developing world” is educating girls. (2) Also, surprisingly, nations with the highest female laborforce participation rates, such as Sweden and the U.S., have the highest fertility rates; and those with the lowest participation rates, such as Italy and Germany, have the lowest fertility rates. Source: Economist , April 15, page 73
  • 96. Q : No. 1 contributor to developing country economic improvement? A : More education for women. Source: Many* (*On a related note, eBay founder Pierre Omidyar and his wife just gave $100M to Tufts—its biggest gift ever—to support micro-lending; women typically are the recipients of 90% of micro-loans because they use the $$$ more productively than men.)
  • 97. Repeat: “Goldman Sachs in Tokyo has developed an index of 115 companies poised to benefit from women’s increased purchasing power; over the past decade the value of shares in Goldman’s basket has risen by 96%, against the Tokyo stockmarket’s rise of 13% .” —Economist , April 15
  • 98. Im p act! Add It U p! Primary markets/Everything (“Men buy things that other men will buy for women. I buy things that women want.”—successful jeweler/F. “Women are the majority market” —Fara Warner/ The Power of the Purse. Women as Purchasing Officers, CIOs, etc.) Greater global workforce participation rate (“bigger contributor to GDP growth than technology, China, India”— Economist ) Higher wages (more seniority, promotions—even if not to CEO; greater pay equity—even if not equal) Business “decision makers” (more seniority, promotions—even if not to CEO) Women-owned businesses (answer to the Glass Ceiling—10.6M in USA; recipients of “micro-lending”—developing world)
  • 99. 10 UNASSAILABLE REASONS WOMEN RULE Women make [all] the financial decisions. Women control [all] the wealth. Women [substantially] outlive men. Women start most of the new businesses. Women’s work force participation rates have soared worldwide. Women are closing in on “same pay for same job.” Women are penetrating senior ranks rapidly [even if the pace is slow for the corner office per se]. Women’s leadership strengths are exceptionally well aligned with new organizational effectiveness & value-added imperatives. Women are better salespersons than men. Women buy [almost] everything—commercial as well as consumer goods. So what exactly is … the point of men ?
  • 100. “ One thing is certain: Women’s rise to power, which is linked to the increase in wealth per capita, is happening in all domains and at all levels of society. Women are no longer content to provide efficient labor or to be consumers with rising budgets and more autonomy to spend. … This is just the beginning. The phenomenon will only grow as girls prove to be more successful than boys in the school system. For a number of observers, we have already entered the age of ‘womenomics,’ the economy as thought out and practiced by a woman.” —Aude Zieseniss de Thuin, Financial Times , 10.03.2006
  • 101. COROLLARY. EXCELLENCE. WOMEN. RULE.
  • 102. “ AS LEADERS, WOMEN RULE : New Studies find that female managers outshine their male counterparts in almost every measure” TITLE/ Special Report/ BusinessWeek
  • 103. Women’s Strengths Match New Economy Imperatives : Link [rather than rank] workers; favor interactive-collaborative leadership style [empowerment beats top-down decision making]; sustain fruitful collaborations; comfortable with sharing information; see redistribution of power as victory, not surrender ; favor multi-dimensional feedback; value technical & interpersonal skills, individual & group contributions equally; readily accept ambiguity; honor intuition as well as pure “rationality”; inherently flexible; appreciate cultural diversity . —Judy B. Rosener, America’s Competitive Secret: Women Managers
  • 104. Women’s Ne g otiatin g Stren g ths *Ability to put themselves in their counterparties’ shoes *Comprehensive, attentive and detailed communication style *Empathy that facilitates trust-building *Curious and attentive listening *Less competitive attitude *Strong sense of fairness and ability to persuade *Proactive risk manager *Collaborative decision-making Source: Horacio Falcao, Cover story/May 2006, World Business , “Say It Like a Woman: Why the 21 st -century negotiator will need the female touch”
  • 105. New (4 of 7) Value-added “Ladder”: Plays to Women’s Inherent Strengths! Lovemark/ F Dreams Come True/ F Spellbinding Experiences/ F Gamechanging Solutions/ F Services/ F Goods/ M Raw Materials/ M
  • 106. “ TAKE THIS QUICK QUIZ : Who manages more things at once? Who puts more effort into their appearance? Who usually takes care of the details? Who finds it easier to meet new people? Who asks more questions in a conversation? Who is a better listener? Who has more interest in communication skills? Who is more inclined to get involved? Who encourages harmony and agreement? Who has better intuition? Who works with a longer ‘to do’ list? Who enjoys a recap to the day’s events? Who is better at keeping in touch with others?” Source: Selling Is a Woman’s Game: 15 Powerful Reasons Why Women Can Outsell Men , Nicki Joy & Susan Kane-Benson
  • 107. The Core Argument: Women [Ought to] Rule! 1. We are in a War for Talent. 2. The war will intensify. 3. There is a severe shortage of effective leaders at all levels. 4. Women are under-represented in our leadership ranks at or near the top. 5. Women and men are different; “new science” reinforces this view. 6. Women’s strengths match the New Economy’s leadership needs—to a striking degree. 7. Women are also the principal purchasers of goods and services—retail and commercial. 8. Ergo, women are a large part of “the answer” to the War for Talent/leadership shortage issue/opportunity.
  • 108. EXCELLENCE. OPPORTUNITY. ENORMOUS. BOOMERS. GEEZERS.
  • 109. women. BOOMERS. GEEZERS.
  • 110. !!!!!!!!!!!!!!!!! “ People turning 50 today have more than half of their adult life ahead of them.” —Bill Novelli, 50+: Igniting a Revolution to Reinvent America
  • 111. “ Idiots” is too kind a word.
  • 112. Stu p id Fr*&^in g Idiot-Marketers! “Critics describe evening news in unflattering terms— They’re old! They’re set in their ways! They won’t buy iPods!” Source: Advertising Age , 05.08.06
  • 113. ?????????????????????????? “Gen Y Sits on Top of Consumer Food Chain: They’re savvy shopper with money and influence” —Headline, USA Today , 1012.06
  • 114. Just Say No. 1 8-44
  • 115. Subject: Marketers & Stupidity “ It’s 18-44, stupid!”
  • 116. Subject: Marketers & Stupidity Or is it: “ 18-44 is stupid, stupid!”
  • 117. “ One particularly puzzling category of youth-obsession is the highly coveted target of men 18-34, and it’s always referred to as ‘highly coveted category.’ Marketers have been distracted by men age 18-34 because they are getting harder to reach. So what? Who wants to reach them? Beyond fast food and beer, they don’t buy much of anything. … The theory is that if you ‘get them while they’re young, they’re yours for life.’ What nonsense !” — Marti Barletta, PrimeTime Women
  • 118. 2000-2010 Stats 18-44: -1% 55+: + 21 % (55-64: + 47 % )
  • 119. BoomerBucks! Boomer turns 50: every 7 seconds. 2009: majority of U.S. households headed by someone over 50. 2006-2016: U.S. population up 22.9 million; 22.1 million in over-50 group. 2006: 1 in 5 adults is F, over 50. Women between 50-70 who are single: 35%. Age 45-54: highest average income, $59, 021 (national average is $42,209). FASTEST GROWING INCOME CATEGORY: WOMEN, 55-64 (4X men in same category). Women, age 60-64: 50% still in workforce. Highest net worth: families, 55-64 ($182,000). People over 50: 70% to 79% of all financial assets; 80% of all savings accounts; 62% of all large Wall Street asset accounts; 66% of $$ invested in the stock market. Age 50+: 29% of population, 40% of total consumer spending, 50% of discretionary spending. Next 2 decades: BOOMERS WILL INHERIT $14 TRILLION-$25 TRILLION (“largest intergenerational transfer of wealth in history”). —Marti Barletta, PrimeTime Women
  • 120. 55-64 vs 25-34 E.g.: New cars & trucks: 20% more spending. Meals at full-service restaurants: +29%. Airfare: +38%. Sports equipment: +58%. Motorized recreational vehicles: +103%. Wine: 113%. Maintenance, repairs and home insurance: +127%. Vacation homes: +258%. Housekeeping & yard services: +250% to +500%. Source:Marti Barletta, PrimeTime Women
  • 121. Average # of cars purchased per household, “lifetime”: 13 Average # of cars bought per household after the “head of household” reaches age 50: 7 Source: Marti Barletta, PrimeTime Women
  • 122. 3Q/2006. $312M. (+18%.) $1.6B. (+14%.) Source: BusinessWeek , 1106.06, “Harley Just Keeps on Cruisin’: Aging customers? Sure. Nostalgia brand? Definitely. So why is the stock at a record high?”
  • 123. 50+ $7T wealth (70%)/ $2T annual income 50% all discretionary spending 79% own homes 40M credit card users 41% new cars/48% luxury cars $610B healthcare spending/ 74% prescription drugs 5% of advertisin g tar g ets Ken Dychtwald, Age Power: How the 21 st Century Will Be Ruled by the New Old
  • 124. “ Fifty-four years of age has been the highest cutoff point for any marketing initiative I’ve ever been involved in. Which is pretty weird when you consider age 50 is right about when people who have worked all their lives start to have some money to spend.” —Marti Barletta, PrimeTime Women
  • 125. Median Household Net Worth <35: $7K 35-44: $44K 45-54: $83K 55-64: $112K 65-69: $114K 70-74: $120K >74: $100K Source: U.S. Census
  • 126. 44-65 : “New Customer Majority” * *45% larger than 18-43; 60% larger by 2010 Source: Ageless Marketing , David Wolfe & Robert Snyder
  • 127. “ The New Customer Majority is the only adult market with realistic prospects for significant sales growth in dozens of product lines for thousands of companies.” —David Wolfe & Robert Snyder, Ageless Marketing
  • 128. “ Marketers attempts at reaching those over 50 have been miserably unsuccessful. No market’s motivations and needs are so poorly understood .” — Peter Francese, founding publisher, American Demographics
  • 129. Possession Experiences /“Desires for things ”/Young adulthood/to 38 Catered Experiences / “Desires to be served by others”/Middle adulthood Bein g Experiences /“Desires for transcending experiences ”/Late adulthood Source: David Wolfe and Robert Ageless Marketing
  • 130. “ Older people have an image problem. As a culture, we’re conditioned toward youth. … When we think of youth, we think ‘energetic and colorful;’ when we think of middle age or ‘mature,’ we think ‘tired and washed out.’ and when we think of ‘old’ or ‘senior,’ we think either ‘exhausted and gray’ or, more likely, we just don’t think. … The financial numbers are absolutely inarguable — the Mature Market has the money . Yet advertisers remain astonishingly indifferent to them. …” —Marti Barletta, PrimeTime Women
  • 131. “ Baby-boomer Women : The Sweetest of Sweet Spots for Marketers” —David Wolfe and Robert Snyder, Ageless Marketing
  • 132. “ WOMAN of the Year: She’s the most powerful consumer in America. And as she starts to turn sixty this month, the affluent baby boomer is doing what she’s always done— redefining herself.” —Joan Hamilton, Town & Country , JAN06
  • 133. Magazine of the Year*: More Source: Advertising Age , 1023. 2006 , “‘More’ Taps Power of 40-plus to Draw Advertisers in Droves” (“More is breaking through advertisers’ irrational obsession with 20-somethings …”)
  • 134. “ Sixty Is the New Thirty ” —Cover/ AARP
  • 135. “‘ Age Power ’ will rule the 21 st century, and we are woefully unprepared.” Ken Dychtwald, Age Power : How the 21 st Century Will Be Ruled by the New Old
  • 136. “ Road Signs of the Times: Creatin g an easier-to-read t yp eface for aging drivers ” — The New York Times
  • 137. BONUS. EXCELLENCE. OPPORTUNITY. ENORMOUS. SINGLE-PERSON HOUSEHOLDS.
  • 138. Fastest growing demographic: Single-person Households (>50% in London, Stockholm, etc) Source: Richard Scase
  • 139. % of homes purchased by single women : 1981, 10%;2005, 20% % of homes purchased by single men : 1981, 10%; 2005, 9% Source: USA Today /02.15.06
  • 140. Women PURCHASERS. Women business owners. WOMEN WEALTH CONTROLLERS. WELL-PAID WOMEN WORKERS. WOMEN LEADERS. Boomer-Geezer PURCHASERS. BOOMER-GEEZER WEALTH CONTROLLERS. Single-person HHs (Urban)
  • 141. BONUS. EXCELLENCE. OPPORTUNITY. ENORMOUS. GENERIC DEMOGRAPHIC TSUNAMI. (UNPRECEDENTED IN HISTORY.)
  • 142. Demographic Upheaval! 1/1/2008: 60% of the Prime Work Force (“boomers”), mostly white males, will be able to retire—at a rate of 10,000 per day . As of 2005: 75% of people entering the workforce are women and minorities. As of 2008, they will “flood the management ranks” as the PWF retires. Programs for recruiting women and minorities with the necessary intensity: mostly AWOL. Selling to Men, Selling to Women , Jeffery Tobias Halter
  • 143. not. Yet. Done.
  • 144. What the hell do I have to do to make my point? Tom Peters
  • 145. The Copenhagen (Self) Pact re “This Topic”: *Early! *Loud! *Repetitive! *Aggressive! * Un friendly!/rude!/ insulting!
  • 146. Women’s Trifecta+ *Buy/ all *Wealth/ all *Lead/ better +Eclipse of males/ whoops (Retire-old/Poorly educated-young)
  • 147. Boomers’-Geezers’ Trifecta *Buy/ all *Wealth/ all *time left/ lots
  • 148. Boomers’-Geezers’-Women’s Trifecta+ *Buy/ all *Wealth/ all *time left/ lots *Eclipse of males/ retire - die
  • 149. Just Say “No” (!): Launch an “Initiative.”
  • 150. You either believe “all this.” Or don’t. * *No middle ground at the level of Extreme Commitment I’m suggesting
  • 151. Don’t “get it” = Stupid * *and you are not stupid
  • 152. E-nor-mous Strat-eg-ic opp-or-tun-ity
  • 153. Amazon Reviewer : “‘Trends’ [TP-MB book] is old news!” (1 of 5 stars) TP : “ Repeating it doesn’t make it ‘old.’ It ain’t old if it hasn’t been implemented !”
  • 154. women. BOOMERS. GEEZERS.
  • 155. EX CELLE ALW AYS .