Marti Barletta | Women Make Chicago Chic

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From Chicago AMA Marketing to Women Seminar January 27

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  • Marti Barletta | Women Make Chicago Chic

    1. 1. Women Make Chicago CHIC © 2010 Marti Barletta & The TrendSight Group Marti Barletta CEO, The TrendSight Group 847-446-5861 American Marketing Assn Chicago – Jan. 27, 2010
    2. 2. Perception vs. Reality <ul><li>Perception : The “Poor” Story </li></ul><ul><li>Women earn less than men </li></ul><ul><li>Women are struggling against the glass ceiling </li></ul>Reality : The “Power” Story Women learn, earn, spend, invest, volunteer, donate and vote more than men
    3. 3. Primary Breadwinners <ul><li>Bring in half - or more - of household income in 55% of US HH (WSJ, Nov 1997 ) </li></ul><ul><li>1 out of 4 USHH is headed by single female (US Bureau of the Census) </li></ul>
    4. 4. <ul><li>Some Wives Earn More Than Husbands </li></ul><ul><ul><li>31% of all women </li></ul></ul><ul><ul><ul><ul><li>1987 17% </li></ul></ul></ul></ul><ul><ul><ul><ul><li>1997 25% </li></ul></ul></ul></ul><ul><ul><li>60% of women with MBAs </li></ul></ul><ul><ul><li>70% of women earning more than $100,000 </li></ul></ul><ul><ul><li>(Business Week Online 2003; Washington Post 2000) </li></ul></ul>Women Earn More
    5. 5. <ul><li>College degrees 57% </li></ul><ul><ul><li>Masters degrees 58% </li></ul></ul><ul><ul><li>U.S. Dept of Education, 2002 </li></ul></ul><ul><li>College grads earn twice as much as high-school grads </li></ul><ul><li>Peter Francese, Amer. Demographics, 1/2/06 </li></ul>Learn & Earn
    6. 6. <ul><li>Professionally speaking… </li></ul><ul><li>52% of Law School degrees </li></ul><ul><li>46% of Medical degrees </li></ul><ul><li>51% of Business degrees </li></ul><ul><li>(Risk Management and Insurance Review 2005, Newsweek 2003) </li></ul>Top Professionals
    7. 7. <ul><li>Women are… </li></ul><ul><li>49.8% of U.S. workforce </li></ul><ul><li>51 % - the majority - of professional and managerial positions </li></ul><ul><ul><li>“ Professional” includes majority of accountants, economists, pharmacists, realtors </li></ul></ul><ul><li>(US Bureau of the Census, 2007) </li></ul>Women Mean Business
    8. 8. Women Business Owners <ul><li>Own 40% of U.S. companies (51%+ ownership) </li></ul><ul><li>Account for 2 out of 3 new start-ups for past 15 yrs. </li></ul><ul><li>(Center for Women’s Business Research 2004) </li></ul>
    9. 9. <ul><li>Control 51.3% of U.S. personal wealth </li></ul><ul><li>(Federal Reserve Board 2000) </li></ul><ul><li>47% of individuals with assets >$500M </li></ul>Command Significant Assets
    10. 10. Women & Wealth <ul><li>By 2010, women will control 60% of U.S. wealth </li></ul><ul><li>Allianz Women, Money and Power study, iaam.org, Aug. 2006 </li></ul><ul><li>By 2019, women will comprise 2/3 of wealthy Americans </li></ul><ul><li>Advisor Today, Jan. 2002 </li></ul>
    11. 11. Women Buy Almost Everything <ul><li>“ HH Chief Purchasing Officer” – 80% of HH buying - Even in historically male domains </li></ul><ul><ul><li>50% of stock market investments (Allianz 2006) </li></ul></ul><ul><ul><li>55% of Consumer Electronics (Consumer Electronics Assn 2004) </li></ul></ul><ul><ul><li>60% of Home Improvement buyers; 80% of HI decisions (Lowe’s 2003) </li></ul></ul><ul><ul><li>52%+ of new vehicle sales; </li></ul></ul><ul><ul><li>influence 85+% of all auto sales </li></ul></ul><ul><li>(Road and Travel 2004) </li></ul>
    12. 12. Sources: “Ad Age’s Guide to Kids and Media,” Ad Age, 3/29/04, “The Missed Market,” American Demographics, 11/01, “Race, Ethnicity and the Way We Shop,” American Demographics, 2/03 from the Selig Center for Economic Growth at the University of Georgia * Calculated based on Consumer Expenditure Survey data and US Census numbers. Source:www.census.gov American Factfinder QT P1, www.bls.gov/cex/home.htm ** Calculated based on. $7.68 trillion annual US consumer buying power X 80% of all consumer purchases. Sources: Selig Center for Economic Growth at the University of Georgia, “The Female Voice,” Time, 4/15/04 The Biggest Spenders – By Far
    13. 13. Sources: “Ad Age’s Guide to Kids and Media,” Ad Age, 3/29/04, “The Missed Market,” American Demographics, 11/01, “Race, Ethnicity and the Way We Shop,” American Demographics, 2/03 from the Selig Center for Economic Growth at the University of Georgia * Calculated based on Consumer Expenditure Survey data and US Census numbers. Source:www.census.gov American Factfinder QT P1, www.bls.gov/cex/home.htm ** Calculated based on. $7.68 trillion annual US consumer buying power X 80% of all consumer purchases. Sources: Selig Center for Economic Growth at the University of Georgia, “The Female Voice,” Time, 4/15/04 The Biggest Spenders – By Far
    14. 14. Biggest Opportunity PrimeTime Women™ <ul><li>Women 50-70 </li></ul><ul><li>Prime marketing target </li></ul><ul><li>Prime of their lives </li></ul>
    15. 15. Numbers Boomers Moving Into PrimeTime <ul><li>2006-2016 U.S. Adults +22.9 million* </li></ul><ul><ul><li>50+ = +22.1 million (96%) </li></ul></ul><ul><ul><li>18-49 = Only 856,379 (4%) </li></ul></ul><ul><li>Adults 50+ </li></ul><ul><ul><li>In 2000 - 38% of U.S. adult pop. </li></ul></ul><ul><ul><li>By 2026, will be 49% U.S. Census projections </li></ul></ul>This decade, all growth comes from 50+
    16. 16. Money HH Headed by Adults 50+ <ul><li>Peak income: ~$53K vs $42K avg HH </li></ul><ul><ul><li>Top of their careers </li></ul></ul><ul><ul><li>No plans to retire </li></ul></ul><ul><li>Peak net worth: $182K vs $86K avg HH </li></ul><ul><ul><li>A lifetime of working </li></ul></ul><ul><ul><li>Dual earners </li></ul></ul><ul><li>Peak discretionary spending </li></ul><ul><ul><li>Kids are launched </li></ul></ul><ul><ul><li>Per capita , A50+ spend 2.5X younger adults </li></ul></ul>
    17. 17. Spending More, not Less 2.5X the Average HH Spending <ul><li>New cars/trucks </li></ul><ul><li>Meals at restaurants </li></ul><ul><li>Airfare </li></ul><ul><li>Sports equipment </li></ul><ul><li>Women’s apparel </li></ul><ul><li>Wine at home </li></ul><ul><li>55-64 HH index </li></ul><ul><li>vs. 25-34 HH </li></ul><ul><li>120 </li></ul><ul><li>129 </li></ul><ul><li>138 </li></ul><ul><li>158 </li></ul><ul><li>164 </li></ul><ul><li>213 </li></ul>Source: New Strategist 2004-6 Overall, spend more than younger HH Even if your category indexes average or low, 50+ population is the only source of growth
    18. 18. Today’s PrimeTime Woman Healthiest, wealthiest, most educated, active, influential generation of women in history
    19. 19. Why “Market to Women?” (Are Women Really That Different?)
    20. 20. Male & Female Gender Culture <ul><li>Language and Customs </li></ul><ul><li>Roles in Society </li></ul><ul><li>Assumptions about “Normal” </li></ul><ul><li>Ways of Making a Decision </li></ul>
    21. 21. Multi-Tasking “ On the Way ” vs. “In the Way ” <ul><li>The drug store </li></ul><ul><li>The Post Office </li></ul><ul><li>Stirring the soup </li></ul>
    22. 22. Multi-Tasking Men “prioritize” … Women “ maximize ” “ On the Way ” vs. “In the Way ” <ul><li>The drug store </li></ul><ul><li>The Post Office </li></ul><ul><li>Stirring the soup </li></ul>
    23. 23. Women Buy Almost Everything 80% of Consumer Spending <ul><li>“ HH Chief Purchasing Officer” – </li></ul><ul><ul><li>53% of Investments (SIA 1998) </li></ul></ul><ul><ul><li>55% of Consumer Electronics (Consumer Electronics Assn 2004) </li></ul></ul><ul><ul><li>55% of Desktops; 55% of Laptops </li></ul></ul><ul><ul><li>60% of Home Improvement buyers; 80% of HI decisions (Lowe’s 2003) </li></ul></ul><ul><ul><li>60%+ of new Cars (J.D. Power 1997) </li></ul></ul>
    24. 24. Women Buy Almost Everything 80% of Consumer Spending <ul><li>Marketing to Women is about </li></ul><ul><li>Share gain </li></ul><ul><ul><li>How do you get her to choose YOUR brand? </li></ul></ul><ul><li>Profit enhancement </li></ul><ul><ul><li>More loyal - comprehensive decision process & greater weight on relationships </li></ul></ul><ul><ul><li>Word of mouth </li></ul></ul>
    25. 25. How Win with Women? <ul><li>People Power </li></ul><ul><ul><li>Prospects, not Products </li></ul></ul><ul><ul><li>Feelings, not Features </li></ul></ul><ul><ul><li>Stories, not Status </li></ul></ul><ul><li>Longer List </li></ul><ul><li>Deciding Factor </li></ul>
    26. 26. Women Run On “People Power” <ul><li>People are the most important and interesting element of any situation. </li></ul><ul><ul><li>Babies </li></ul></ul><ul><ul><li>Stereoscopes </li></ul></ul><ul><ul><li>Magazines </li></ul></ul>
    27. 27. Men – “Things & Theorems” <ul><li>People are important, maybe - but hardly ever all that interesting. </li></ul><ul><ul><li>Mark & Nancy </li></ul></ul><ul><li>Also interested in “things and theorems” </li></ul><ul><ul><li>Cars, computers, etc. </li></ul></ul><ul><ul><li>Principles and concepts </li></ul></ul>
    28. 28. Customer Service s … Shopping Assistant
    29. 29. Consumer Electronics “ I’ll never forget the look on my mother’s face the day I was born.”
    30. 30. Home Improvement
    31. 31. Banks: Facts & Features
    32. 32. Banks: Lots of Facts & Features
    33. 33. Instead: Show People
    34. 34. Tell Their Stories “ My husband & I saw it was necessary to learn how to handle our money the best way we could. We even took night classes together so we could learn more about finances and investing. Our goal was to ….”
    35. 35. Men – Facts & Status <ul><li>“ Only 16.4 golf memberships per hole.” </li></ul><ul><li>“ Private” </li></ul><ul><li>“ Privileged” </li></ul><ul><li>“ Select Few” </li></ul>
    36. 36. Show People, Not Places
    37. 37. Women – Feelings & Stories “ This morning, my daughter made her first birdie . . . she came running over and gave me a big hug. And she said, “Mom, I will never forget this day.”
    38. 38. “ What Do Women Want?” <ul><li>Men </li></ul><ul><ul><li>“ The important things” </li></ul></ul>A Longer List <ul><li>Women </li></ul><ul><ul><li>The important things and more </li></ul></ul><ul><ul><li>Will go the extra mile to get it “just right” </li></ul></ul>
    39. 39. Longer List “He Dropped the Ball”
    40. 40. <ul><li>What do women want? </li></ul><ul><li>Want all the same things as men </li></ul><ul><li>… and then some </li></ul><ul><ul><li>Nokia “Ocean Blue” </li></ul></ul>Decision Criteria The Deciding Factor
    41. 41. Deciding Factor <ul><li>Westin Hotels Heavenly Bed </li></ul>
    42. 42. <ul><li>When you meet the expectations of women, you generally exceed the expectations of men. </li></ul>“ Women’s Marketing” Expands the Appeal for Men
    43. 43. Women Make Chicago CHIC
    44. 44. Women Make Chicago CHIC C onsumer H eartland I nsights C entral
    45. 45. Women Make Chicago CHIC MTW Central Marti Barletta – Marketing to Women, PrimeTime Women Bridget Brennan – Why She Buys Pepper Miller – What’s Black About It? Cristina Benitez – Latinization Michael Silverstein – Women Want More
    46. 46. Women Make Chicago CHIC MTW Central M2W© – Marketing to Women – April 21-22 M2M© – Marketing to Moms – October M2G© – Marketing to Girls - M2W-HC© - Marketing Health Care to Women – November 25% discount for AMA members!
    47. 47. Decision Process “Black Slacks” <ul><li>Desired Outcome: </li></ul><ul><li>“ A Good Solution” </li></ul>
    48. 48. How Men BUY
    49. 49. Decision Process “Black Slacks” Desired Outcome : “ The Perfect Answer”
    50. 50. --ILLUSTRATIVE--
    51. 51. Women Make Chicago CHIC © 2010 Marti Barletta & The TrendSight Group Marti Barletta CEO, The TrendSight Group 847-446-5861 American Marketing Assn Chicago – Jan. 27, 2010

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