The document discusses the significant economic power and influence of women as consumers and business owners in the United States. It notes that women control over half of personal wealth, make over 80% of purchasing decisions, and own 41% of businesses. The document advocates for marketing directly to women by designing products and services with their needs and preferences in mind, communicating in a way that appeals to women, and leveraging corporate social responsibility programs that women value.

1. The Power of The Purse Marti Barletta Author, Marketing to Women CEO, The TrendSight Group Chicago 847/446-5861 Seton Hill University “ Building a World-Class Business” Conference April 1, 2008 © 2008 Marti Barletta & The TrendSight Group

2. The Power Story Perception : The “Poor” Story Women earn less than men Don’t make “big-ticket” decisions Uncomfortable with financial matters Reality : The “Power” Story Women spend more than men - a lot more Market power is growing exponentially

3. Women Rule! Market Place Consumer - 80% of buying decisions Corporate - 58% of Purchasing agents Small Business 41% of Small Businesses (51% WBO) 70% of start-ups Work Place Employees - 46% of U.S. work force Managers - 51% of managers & professionals

4. Primary Breadwinners Bring in half - or more - of household income in 55% of US HH (WSJ, Nov 1997 ) 1 out of 4 USHH is headed by single female (US Bureau of the Census)

5. Wives Earn More Than Husbands 31% of all married women 60% of women with MBAs 70% of women earning more than $100,000 (Business Week Online 2003; Washington Post 2000) Women Earn More

6. College degrees 57% Masters degrees 58% U.S. Dept of Education, 2002 College grads earn twice as much as high-school grads Peter Francese, Amer. Demographics, 1/2/06 Higher Education  Higher Earnings

7. Professionally speaking… 46% of Medical degrees 51% of Business degrees 52% of Law School degrees (Risk Management and Insurance Review 2005, Newsweek 2003) Higher Paying Occupations

8. Control 51.3% of U.S. personal wealth (Federal Reserve Board 2000) 47% of individuals with assets >$500M (WSJ 1997) Command Significant Assets

9. 50% of stock market investors (Private Banker International 2003) Have a special account my husband can’t touch Married 28% Married - 6-figure net worth 37% (MONEY/Oppenheimer Funds study 5/13/05) Investing

10. Women Buy Almost Everything “ HH Chief Purchasing Officer” – 80% of HH buying - Even in historically male domains 50% of stock market investments (Allianz 2006) 55% of Consumer Electronics (Consumer Electronics Assn 2004) 60% of Home Improvement buyers; 80% of HI decisions (Lowe’s 2003) 52%+ of new vehicle sales; influence 85+% of all auto sales (Road and Travel 2004)

11. 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

12. PrimeTime Women™ Age 50-70 In the prime of their lives Prime target opportunity

13. Adults 50+ Enormous Financial Power In 2000, 37% of U.S. adult population Control 50% of discretionary spending (Ken Dychtwald, Age Power) Own 79% of U.S. financial assets (AARP) By 2026, 50+ will be 49% of U.S. pop (U.S. Census Bureau projection)

14. Adults 50+ Numbers Soaring 2006-2016, pop. of Adults 18+ will grow by 23 million 22.1 million ( 96%) will be 50+ Only 4% (856K) will be 18-49 Source: Boomer Project Newsletter, March 2006

15. Aging Population: More Female Percent Female

16. Yesterday’s “Little Old Ladies” are Tomorrow’s Ms. Moneybags Inherit from parents Inherit from husbands Average age of widowhood in U.S = 67 Outlive husbands by 15-18 years

17. PrimeTime Women You’re psyched about the future. You’re full of new ideas. You’re looking to start a business. You’re the one on the right. Healthiest, wealthiest, most educated, most active generation of women in history

18. 47% of U.S. workforce 51 % - the majority - of professional and managerial positions “ Professional” includes majority of accountants, economists, pharmacists, realtors (US Bureau of the Census) Women Executives

19. 49% of corporate decision makers 53% of purchasing mgrs & buyers 58% of wholesale & retail buyers Majority of Human Resources, Administration Department heads Source employee financial plans, health plans Buy office equipment, services, supplies (Center for Women’s Business Research, 1999) B2B = Buying for Business

20. Women Business Owners Own 41% of U.S. companies (50%+ ownership) (CWBR, 2006) Account for 2 out of 3 new start-ups for past decade. (Center for Women’s Business Research 2004) 1 in 7 U.S. employees works for a Woman Business Owner

21. The Way I See It… Recession? The success & stability of the U.S. economy depends on  Women’s willingness to spend

22. The Power of Women One and All As consumers Your patriotic duty  Shop! As businesswomen Your opportunity  Market to women

23. Why “Market to Women?” (Are Women Really That Different?)

24. Yes, Actually.

25. Gender Culture Different … Language and customs Roles in society Assumptions about what’s “normal” Ways of making a decision

26. Marketing to Women Huge Opportunity – Wide open Product/Service Offerings Only 7.9% of all new products specifically tailored to women (2005) Datamonitor’s Productscan Online; http://www.directorscentre.co.uk/article-targeting-women.php Communications Fully 91% of women say “advertisers don’t understand them” Women’s Insight research study, Dec. 2006 http://www.businessleader.com/Index.aspx?page=ui.article&PID=5 ,

27. Marketing to Women Product/Service Design Time/Life Factors “ On The Way” marketing People Power We, not Me Longer List

28. 1. Product/Service Offerings Design with women in mind Architects Product designers

29. Architects – Kitchen Work Center This? Or This?

30. Architects – Shower Functionality This? Or This?

31. Architects – Hotels & Stadiums Always This!

32. Design for Women

33. Design for Women Brand Differentiation One-Touch Can Opener OXO Universal Design

34. Palm Peeler OXO Universal Design Design for Women Brand Differentiation

35. Design for Women Retail Environment Kids In Tow Supervised play area Strollers Special parking Food and Drinks Bathrooms!

36. 2. Time/Life Factors Women are Not Busy . . . … ..women are Time- Starved Save Her Time

37. Want to win a woman’s heart? Save her time Not just Customer Service  Customer Services

38. Customer Services … Shopping Assistant

39. Talbots Saves Time at the Holidays “ We’ll Do It All” Talbots Customer Service “ We’re here to make your holidays easier. Come in, relax, and leave the work to us. No matter how long your holiday list, we’ll find it, we’ll wrap it, we’ll do it all.”

40. The Ultimate Customer Service: House Calls Customer Services

41. Customer Services Hardware Retailers “ Seasonal” services Winter – After every 3+ inch snowfall, deliver 3 cannisters of SafeStep Spring – Once a month, drop off new potted plant or flowers for porch

42. 3. “On the Way” Men “prioritize” … Women “ maximize ” “ On the Way ” vs. “In the Way ” The drug store The Post Office Stirring the soup

43. “ On the Way…” Merchandising Photo retailers Extra prints Frames Memory books Batteries Camera Cases “ Would you like fries with that?”

44. “ On the Way…” Professional Services Cross-sell/Up-sell “ We can set up both accounts at once…” “ While we’re here, why don’t we also take care of that other matter”

45. 4. People Power People are the most important and interesting element of any situation. Babies Stereoscopes Magazine covers

46. Men – “Things & Theorems” People are important, maybe - but hardly ever all that interesting. Mark & Nancy Also interested in “things and theorems” Cars, computers, etc. Principles and concepts

47. People!

48. Windows – Price Focus

49. Windows – People Focus

50. People Power Yellow Pages Ads Other home category: electricians People Power Prospect focus Trust, Courtesy, Professionalism

51. 5. Core Unit: “We” not “Me” Individual Group

52. “ Life insurance isn’t for the people who die. It’s for the people who live.” “ We” not “Me”

53. Connecting with Each Other Men: Competition “ One-Up” (brag) Women: Commonality “ That’s me!” moments

54. How Guys Connect “Can You Top This?”

55. “ That’s Me” Moments Wal-Mart

56. Word of Mouth Surprise and Delight “ Random Acts of Kindness”

57. 6. Longer List Men – Prioritize “ The important things” A Longer List Women – Maximize The important things and the extras Will go the extra mile to get it “just right”

58. Longer List “He Dropped the Ball”

59. When you meet the expectations of women, you generally exceed the expectations of men. “ Women’s Marketing” Expands the Appeal for Men

60. Best Buy – “Jill” store, Eden Prairie Re-designed store environment Earth-toned carpeting, toned-down music Hired more female employees Trained all employees how to talk w women  Open-ended questions, aimed at creating conversations “ Month after month, ranks top in nation, based on sales & profits” Expanding concept to all 821 stores nationwide “ Women’s Marketing” Expands the Appeal for Men

61. What do women want? Want all the same things as men … and then some Nokia “Ocean Blue” Decision Criteria The Deciding Factor

62. Deciding Factor Westin Hotels Heavenly Bed

63. Corporate Halo: Education Target - “Take Charge of Education” program Good fit with business Leveraged consistently, tastefully, ubiquitously

64. Details = Differentiators Corporate Halo

65. Going Green Timberland Sustainability Report Card

66. Susan G. Komen Reciprocal: Sponsors Promote SGK Sutter Home for Hope $1 from each bottle of white zinfandel Ads ran in women’s media in October Made a huge difference at shelf Plan to run again this year

67. Susan G. Komen Highly recognizable icon

68. Corporate Halo Kimpton/Dress for Success

69. Deciding Factor Consumer Communications Don’t waste space on headline commodity features Don’t clutter the scene with myriad generic details Highlight small advantages vs. your competition

70. Thought Process More Connections Analyzers Extract – Essential elements only Isolate the issues Identify what’s most important Synthesizers Include – Thorough, comprehensive Notice more detail Integrate in context “ The Bigger Picture”

71. “ The Perfect Answer” “ A Good Solution” Don’t “over-think” Punch list of key criteria Solve the problem “ The Perfect Answer” Explore all options Weigh all trade-offs Ferret out best possible solution

72. Decision Process “Black Slacks” Desired Outcome: “ A Good Solution”

73. How Men Buy

74. Decision Process “Black Slacks” Desired Outcome : “ The Perfect Answer”

75. How Women Shop

76. Duty-Bound… She shops… No longer just a household duty….  Patriotic duty! You market to women… Grow your business by serving her better – Win-win! The Power of Women … … One and All!

77. The Power of The Purse Marti Barletta Author, Marketing to Women CEO, The TrendSight Group Chicago 847/446-5861 Seton Hill University “ Building a World-Class Business” Conference April 1, 2008 © 2008 Marti Barletta & The TrendSight Group