The Power of the Purse--Duane Sprague

The Power of the Purse

As Managing Director of LHM Advertising, and a Certified Focus Group Director, Duane Sprague embarked on a landmark research project including qualitative and quantitative, primary and secondary market research, from 2005-2006 to better understand the female market size, influence, and buying psyche. Duane created the “F80 Marketing Research Task Force” so named because women represent 80% of the purchasing decisions in the average American household. The research resulted in newsletters to the client base, and advertising recommendations.

“ Below the line” Marketing Trends

Online advertising

Video-on-demand (cable TV)

Direct mail

Consumer promotions

Public relations

In-store displays

Event sponsorships

Product placement

Exhibitions

Media Consumption Trends

People are spending less time reading the newspaper and magazines

Going to the theatres more often

Listening to more radio

Spending more time on the internet

Watching TV (consumers spend ½ their leisure time and 11% of their lives watching TV)

Target Female Group: Salt Lake DMA

Boomers

Born 1946 to 1964

Age 42-60

233,213 (21% of female pop.)

Generation X

Born 1965-1976

Age 30-41

145,925 (13.4% of female pop.)

Generation Y

Born 1977-1994

Age 12-29

198,448 (18% of female pop.)

Why Boomers?

The largest single demographic segment in the nation

Peak earning years with higher incomes than younger generations

More home equity, credit, and discretionary income than younger generations

More likely to buy products and services with higher profit margins than any other generation

Why Women?

Women solely or jointly own 87% of all U.S. homes

Women control or influence 80% of all consumer purchases

Boomer women are six times more likely to share responsibility of saving and investing than their mothers were

By 2010, 60% of the consumer wealth in America will be controlled by women

Why Women?

Largest Market segment in country 51% of population

Most Loyalty for dealership and brand

Low CPP to reach

Little competition

Most underserved major market segment

So what do women want?

Trust is by far the most important factor to the female service consumer, and convenience is secondary.

Women want more information than men about the repairs you’re doing. If you intimidate her, or make her feel stupid, you’ve already lost.

Women want to feel comfortable and respected , and we want the real story .

What Women Want in a Shopping Experience

Honesty

Trustworthy people

Respect

To be served and waited on

Time savings

Convenience

Information

Many options in one place

Communicating with Colors

Each color (even shades of color) represents an emotion, concept or feeling

Using the proper colors to communicate a desired message with women is important

Women are far more aware of and tuned into slight color variances and how they “feel” about them than men

Communicating with Colors

Following are a list of colors, followed by the emotions and concepts women associate with the color, followed by the metaphor the color elicits

Yellow

Happiness:

Sun

Warmth

Bright

Energizing

Happy

Flowers

Cheery

Enthusiastic

Earth Tones

Comfort:

Brown

Tan

Cream

Soft yellow

Pink

Rose

Cornflower blue

Warm gold

Earth Tones

Brown, Tan, Cream, Soft Yellow:

Warm

Snuggly

Relaxed

Earth Tones

Pink:

Love

Affection

Earth Tones

Rose:

Sunset

Sunrise

Beauty

All is good and right

Earth Tones

Warm Beige, Pinky Beige, Rose:

Cozy

Warm

Quiet

Cocooning

Earth Tones

Cornflower Blue or White:

Peace

Clean

Purity

Concept: Adventure

Yellow

Black

Orange

Red

Vibrant Green

Yellow: Adventure

Fun

Happy

Energy

Black: Adventure

Active

Mystery

Intrigue

Double Diamond

Orange: Adventure

Vibrant

Alive

Vitality

Creative

Red: Adventure

On fire

Fast

Hot

Cool

Eye catching

Electrifying

Vibrant Green: Adventure

Outdoors

Forest

Nature

Concept: Trust

Blue (navy or royal)

Green

Blue: Trust

True blue

Serious

Solid

Sky

Ocean

Uniforms

Official

Green: Trust

Spiritual

Solid

Grounded

Favorite Colors Overall

Yellow

Cornflower blue

Green

Black

Pink

White

Brown

White

Metaphor of Favorite Colors

Black:

Solid

Serious

Dignified

Pink:

Feminine

Little girl

Beauty

Soothing

Brown:

Soothing

Yellow:

Happy

Sun

Flowers

Warmth

Cornflower Blue:

Peace

Clean

White:

Purity

Spiritual

Green:

Growth

Money

Nature

Least Favorite Colors Overall

Gray

Mauve

Teal

Pea green

Maroon

Headlines Written by F-80 Women

“ The luxury you deserve at a price that makes sense.”

“ Relax and have fun in only 5-minutes a day!”

“ Safe and secure.”

“ It’s exciting and it’s just for you (name).”

“ What Women Want.”

“ You deserve it and can afford it.”

“ This is the key to your family’s future.”

You’re smart enough to know real value.”

“ Our buyers are discriminating women who have the time and income to enjoy luxury.”

Headlines Written by F-80 Women

“ We make buying easy. Simply call us today and we’ll bring a ______ to you.”

“ Rediscover the quiet.”

“ Undeniably affordable luxury.”

Things they want to know

How will it affect or improve my life?

Is the quality the best it can be for the price?

That they will not feel guilty for paying too much

How will it impact my family?

Best Radio & TV Programs for Women

Opra Winfrey

Dr. Laura

Bob Lonsberry

AM 810

Home makeovers

Lifetime channel

Fonts that Appeal to Women

Ads that Appeal to Women

Clean, uncluttered, simple

Single concept and focal point

Images of freedom, road trips, open sunroof, wind in the hair

Images and settings that portray serenity, escapism, peaceful, relaxing

Accent colors of violet, purple and lavender

“ I look at an ad and I react either because it’s amazingly beautiful or because of the mood or emotion it evokes” Ads created by F-80 research group “ The convertible made for fun!” “ You deserve it, and you can afford it.”

Women Seek

Convenience

Time savings

Great service

Value

All in one location

And they are willing to pay for it!

So they can get back to their busy time starved lives

Women tend to be interested in

People

Relationships

Family

Community

And how their decisions will affect each and tie them together.

Wife Mother Sister Daughter Husband Children Community Neighbors Siblings Parents

Sales Approach: Explain how each feature affects the family or people close to her

“ Your kids will be very comfortable and have plenty of room in this_____”

“ Can you see how this feature will keep your family safe?”

“ The DVD player will give you peace and quiet while your kids are entertained”

Your Mother will love the seat warmer on cold winter days

Can you see how this ______ feature is more convenient for you and your family?

Prefrontal Cortex: Planning, emotion, analysis, higher thinking, cause and effect. Auditory Cortex: Hearing. Females have a better sense of hearing and can hear multiple conversations simultaneously. Visual Cortex: Sight. Males have a keener sense of vision , and are more visually oriented and visually stimulated. Females: 10% more connective tissue in the Corpus Collosum. Left hemisphere is logical , linear and objective . Right side is more intuitive , creative , abstract and subjective, and sees the big picture . Males are more left brain oriented, and Females are more whole brain oriented with a right brain emphasis . Left Right

Working Female Media Usage (2004 Media Audit)

How to Market to Women