This document discusses strategies for effectively marketing to women. It provides statistics showing women's increasing purchasing power and roles in the economy. Women are influenced by friends and family and want transparency from companies. Simply making products pink is not an effective strategy. The document advocates using images showing women in various roles and asking questions that elicit women's priorities and concerns rather than assumed goals. It also describes a successful "Chicks, Cars and Cupcakes" event co-hosted by a credit union to educate and attract female auto buyers.

1. The Overlooked
Female Market

2. • Better understand what drives women’s purchase
decisions and how this can impact your marketing.
• Learn how to attract, retain and get more business from
women by the type of questions you ask.
• Translate this understanding into products and services
geared towards women’s aspirations and priorities.
• Discover if you are maximizing your opportunity to get in
front of women.
• Use Great Lakes Credit Union’s “Chicks, Cars and
Cupcakes” ladies-only event as a template for your own
outreach to women.
2
Attendee Takeaways

3. 3
PINK is Not a Strategy

4. 4
Why marketing to women requires
more than simply “making it pink”

5. 5
“It seems the marketer
put no thought into the
consumer’s wants. If
your product isn’t
raising money for Breast
Cancer Awareness
Month, which of course
is a wonderful cause,
you should use it
sparingly.”

6. “The best
initiatives targeted
to women are not
pink, but
transparent.”

7. 7
More Women in
the Workforce
Than Ever
Before

8. • More paychecks, more
disposable income
• Between 1970-2007,
women’s earnings increases
44%, compared with 6%
increase for men*
8
*Source: Pew Research Center

9. • Earning for female college
graduates increased an
inflation-adjusted 30.8%
since 1979, compared with a
16.3% increase for male
college graduates*
• Multi-tasking and
convenience are key – time is
money
• Need services, not just
products
9
*Source: Pew Research Center

10. Women are
Staying Single
Longer

11. •Pursue education before marriage
•Buying more big ticket items like
homes and cars
•Spend big on entertainment and
travel
•Notice when companies talk to
them

12. Women
Divorcing in
Record
Numbers &
Starting Over

13. •For many, divorce is
cause for celebration
•Newfound financial
independence, but
new worries
•Double households
•Want confidence
boosting products

14. Women Having Fewer Kids
& Spending More on Them

15. •Family as career
•Spending on kids is
“UP”
•Moms bring their kids
everywhere
•Kids now get things
once reserved for
adults

16. 16
Women Over
50 Are Not
Their
Mother’s
Generation

17. •Highest net worth of
any group in the U.S.
•Happier now than
they’ve ever been
•Youth is highly
overrated when it
comes to spending
•“Stuff” is less
important than new
experiences

18. Women and Spending
Source: Mashable, 2012

19. 19
Women account for 85% of
all consumer purchases,
including everything from
autos to health care.
Source: Mashable, 2012

20. • 66% PCs
• 92% Vacations
• 80% Healthcare
• 91% of New Homes
Women make up 58% of
all total online spending.
• 89% Bank Accounts
• 93% Food
• 65% New Cars
• 93% OTC Pharmaceuticals
Source: Mashable, 2012

21. • 59% of women feel misunderstood by food marketers
• 66% feel misunderstood by health care marketers
• 74% feel misunderstood by automotive marketers
Source: Mashable, 2012

22. Source: Mashable, 2012
• 84% feel misunderstood by investment marketers
• 91% of women in one survey said that advertisers don't
understand them
• 70% of new businesses are started by women

23. Women and Tech

24. Source: Mashable, 2012
56% of women in the US
use social networking sites

25. Source: Mashable, 2012
58% of Facebook users are women
64% of Twitter users are women
80% of Pinterest users are women

26. Source: Mashable, 2012
Her Friends &
Followers:

27. 525 on average
363 for men
378 for working women
Source: Mashable, 2012
Her Friends &
Followers:

28. Source: Linkage Research, 2013 Entrepreneur Tracking Study
Follows 28 brands on average
Comparison shop for prices 66%
Read online reviews 58%
Visit company websites 56%
Read blogs/expert sites 36%
Watch videos 29%
Ask online friends/associates 28%
Post questions 18%
She’s using the Internet to
make decisions about
what to buy for her business

29. Source: Linkage Research, 2013 Entrepreneur Tracking Study
Often tell others about good experiences
Often warn others about bad experiences
Write online reviews
Recommend company websites
Answer questions in forums and blogs
Make recommendations her own blog
Post videos
84%
79%
32%
24%
34%
17%
8%
She’s Well Connected
& Talking About You

30. Source: Holly Buchanan, Author of Selling Financial Services to Women
The Danger of
Stereotyping
Women In Your Ads

31. Source: Holly Buchanan, Author of Selling Financial Services to Women
You would be amazed how few ads
(credit union or otherwise) can pass this test.
31
Here’s a simple test credit unions can use to
see if they are stereotyping women.
(Buchanan Test)

32. In a role other than that of a mother
Outside of a home
Who is NOT doing yoga
Source: Holly Buchanan, Author of Selling Financial Services to Women
32
In order to pass the test your ad
must feature a woman:

33. Create more
effective ads
for women

34. Do you feature women
at work, buying or
driving a car, riding a
mountain bike, waiting
for a commuter train,
buying a home?
It’s not that you can
never show her in the
role of mother, but
acknowledge the many
other roles she plays as
well.

35. Women respond most
favorably to images of:
• multi-generational families
• multi-generational groups
of 3 women
• professional women
• couples on an equal level
Source: Holly Buchanan, Author of Selling Financial Services to Women

36. Source: New York Times, January 2013
36
Women and
Financial Services
Go Long on Women to Make More Money:
Financial services companies admit
that, historically, they haven't done a
great job of attracting women as
customers.
The number of women-owned firms
increased by 54% between 1997 and
2012
- that's a rate 1 1/2 times the national average.

37. Source: New York Times, January 2013
37
Women and
Financial Services
Women differ substantially from men in how
they relate to investing.
They don't want to hear about the
growth or comparative performance
of different funds;
they want information about
reaching their long-term goals, like
putting a child through college.

38. Source: New York Times, January 2013
Just 20% of female breadwinners said they were
'very well prepared' to make wise financial decisions,
versus 45% of their male peers.

39. The Women's Financial
Survey polled 1,042
via the Internet from
a population of
women nationally,
with an even
distribution of
respondents born in
each decade from
1920 to 1980.
Source: CUNA Study: Women’s Financial Survey, 2013
CUNA’s Women’s Financial Survey

40. Saving for retirement is
the No. 1 financial
concern for women.
Findings showed that
women use 401(k)s (45.3%)
and pension plans (35.8%)
the most to save for
retirement, while 40% of
women reported owning
multiple retirement plans.
Source: CUNA Study: Women’s Financial Survey, 2013
CUNA’s Women’s Financial Survey

41. 51.2% of women were not
confident in their financial
ability, despite the fact that
38% of the married female
respondents manage their
household finances exclusively
and 46% co-manage their
household finances. This was
particularly true with the
youngest demographic, those
born from 1980-1993, where
59.1% lacked financial
confidence.
Source: CUNA Study: Women’s Financial Survey, 2013
CUNA’s Women’s Financial Survey

42. Most women reported:
•balancing their checkbooks
•maintaining six-month rainy day funds
•paying their credit card balances in full
every month
•prioritizing long-term goals ahead of
transactional goals
Source: CUNA Study: Women’s Financial Survey, 2013
CUNA’s Women’s
Financial Survey

43. Most women manage their household
finances, but lack confidence that
they are doing it correctly.
Fewer than half of the respondents
across all demographics reported
following a monthly budget, which is
critical to efficiently manage any
finances.
Source: CUNA Study: Women’s Financial Survey, 2013
CUNA’s Women’s
Financial Survey

44. Source: Holly Buchanan, Author of Selling Financial Services to Women
Women-Winning questions
elicit better, richer, more
detailed answers.

45. Source: Holly Buchanan, Author of Selling Financial Services to Women
Standard Question
“What are your retirement goals?
How much would you need?”
“Well, um…. I’d like to be able
to retire some day…to travel.
How much money would I
need?”
how on earth am I
supposed to know
that?
Standard Answer

46. Women-Winning Question
“What does being financially OK look like
to you?” “What do you NOT want to
happen”
“Well, I’d like to have my home and car
paid off. I wouldn’t have any credit card
debt. I wouldn't need an extravagant
lifestyle, but I’d like to make sure I can
easily cover my monthly expenses. And
I’d want enough money so I could take a
vacation every year. My biggest fear is I’d
have to move in with my kids. They
shouldn’t have to be responsible for me.
I’d never want to be a burden to them.”
Source: Holly Buchanan, Author of Selling Financial Services to Women
Women-Winning Answer

47. Calculators
Mini Sites
Podcasts
Resources
Videos
Newsletters
Publications
Checklists & Charts
Toolkits
Pre-Approval
Our Free Tools to Help:
47
GLCU’s Financial Fitness

48. Women and Auto

49. • Women buy more than
half of the new cars in
the U.S., AND influence
up to 80% of all car
purchases.
• Women also request 65%
of the service work done
at dealerships.
• Women spend over $200
billion on new cars &
mechanical servicing of
vehicles each year.
Source: Women-Drivers.com, 2010

50. Common Mission for
All Credit Unions
Quest for Auto Loans

51. 51
What do we do…
• When we can’t get consistent
loan volume from dealers?
• When we can’t compete on just
rate?
• Instead of investing in an
expensive direct mail auto
pre-approval campaign?
• When we would rather not run
the embarrassing risk of low
turnout at a run-of-the-mill
“auto buying” workshop?

52. 52
What do we do…
“EDUTAINMENT”

53. 53
We Collaborated to Create
Chicks, Cars and Cupcakes©

54. Venue: Gurnee Mills Mall
Day/Time: Tuesday Evening, 7:00pm – 9:00pm
October 23rd (Breast Cancer Awareness Month)
Agenda: Keynote
Female automotive experts as panelists
Fashion show breaks with Mistress of Ceremonies
Description:
A highly desirable “ladies only” audience will attend this
upscale, fun-filled evening event to learn about all aspects of
the retail automotive market from purchase, to safety, to
maintenance, along with a little bit of fashion… AND MORE!
54
Planning Process

55. 55
Program
Keynote
Jody DeVere – CEO of AskPatty.com, Inc.
Fashion Show Break
“Buying New versus Used; Buying
versus Leasing”
Chris Parker, General Manager, Gurnee VW
Fashion Show Break
“Loans and Financing”
Lisa Anderson, AVP – Consumer Loans, GLCU
Fashion Show Break
“Tires and Car Care”
Julie Scroggins, CFO, Waukegan Tire & Supply Co.

56. 56
“Safety and Insurance”
Janee Ferrari, Sales Rep – Liberty Mutual
Fashion Show Break
“Tires and Car Care”
Julie Scroggins, CFO, Waukegan Tire & Supply Co.
Fashion Show Break
“Safety and Insurance”
Janee Ferrari, Sales Rep – Liberty Mutual
Program

57. 57
Sponsorship

58. Social Media (us, Gurnee Mills, sponsors)
In-mall signage
Press Releases/Media Alerts
Radio – ads & PSA at local station
Women’s Networking Groups
FREE Advertising in
Automotive Section
of Newspaper
58
Event Promotion

59. 59
Logistics

60. in-house Logo/graphic design work
$1,266.24 Promotional Give-Aways
60 trunk cargo boxes & 100 ice scraper mitts
$651.00 Chair Rentals, Highboy Tables, Linens
$409.50 250 Printed Programs
$45.94 Sponsor/Speaker Ribbons
$155.52 6’ Banner for Stage
$248.92 Flowers/Corsages
$100.64 Miscellaneous
$4,900.00 Sponsorships
- $2,721.36 Expenses
$2,178.64 Donation to National Breast Cancer Foundation
60
Logistics

61. • Speaker at CU Journal “Grow Show” 2013
• 2013 Diamond Award from CUNA Marketing and Business Development
Council –Category of Single Event/PR
• Common-law copyrighted CCC logo and concept
• Partnership with AskPatty.com making us the first certified
Female Friendly® Credit Union for auto loans with
co-brand opportunity
• National press in automotive publication
• CU Journal “Best Practice” for December 2012
• Articles in CU trade publications
61
Results

62. 62
GLCU Certified
“Female Friendly”
Auto Loans

63. • Askpatty.com founded by Jody DeVere in 2005
- to empower women looking for information about consumer
automotive products and services
• Successfully completed custom tailored
certification process
- First Credit Union to receive credentials
• Display “Certified Female Friendly” seal on
all auto loan marketing collateral & website
• Marketing support program & promotion
on AskPatty.com’s website
- 4,700-8,500 impressions per month over 3 months
63
GLCU Certified
“Female Friendly”
Auto Loans

64. Meet the new boss
• Being the agenda setter is a role she relishes
• She calls the shots and makes the decisions
• Her increasing sphere of influence makes her leadership more
impactful than ever.
Help her lead
• Help her lead
• Help her persuade her family
• Help her be decisive in decision-making processes
Look out for her needs
• Last and least on the list are her own needs.
• Help her put herself first –you’ll be one of the few
Source: Jody DeVere, CEO of AskPatty.com, Inc.
64
Things to Remember

65. Get substantive
• She prefers substance over sizzle.
• Desires a solid “good” choice over a more expensive “great” choice.
• Communicate quality and value with the emotion
Get specific
• One size does not fit all
• Understand specific segments of women and the needs of those targets on a category-
specific basis.
Get used to it
• Her leadership is intensifying, not diminishing.
• Her “sphere of influence” is growing, not shrinking
• Don’t expect a sudden turn-around when an economic upswing occurs.
Source: Jody DeVere, CEO of AskPatty.com, Inc.
65
Things to Remember

66. What doesn’t kill you…
• Women will emerge from the recession
smarter and with greater confidence
• The anxiety of necessity is gone
• Women find thrill in exploring change
and newness in their lives
Blurring of gender lines…
• The evolution to a team dynamic will
result in greater household harmony
• A continued lessoning of the gender
divide
Source: Jody DeVere, CEO of AskPatty.com, Inc.
66
What’s Next?

67. Source: Jody DeVere, CEO of AskPatty.com, Inc.
67
What’s Next?Intensification of recommendations…
• The growing role of word-of-mouth,
both online & offline, will intensify
• Efforts to proactively manage these
dynamics are a must for marketers
The surf will subside…
• The novelty of all the new electronic tools and
apps will subside
• She will embrace only the tools that fit
her needs best
• Women will be the key
determiners of which
tools remain

68. Summit Credit Union
• Red SHOES financial education
-Fee-based program with workbook
-On-line financial boutique and
access to a coach
Oregon Community Credit Union
• Retirement seminars geared towards
women 2X a year
Verity Credit Union
• Verity Mom is contract employee of
Verify CU who blogs “to give moms a
voice”
68
Shout-Out Other CU’s
Targeting Female Members

69. Create your own women’s educational
events
• Chicks, Cars and Cupcakes© is common-law
copyrighted
• Please “borrow the concept” but show
marketing integrity
Affiliate with a Mom-Blogger on social
media
Be active in youth financial education
Join women’s networking groups to find
out needs or “hot topics”
Visit: www.healthywomen.org
Revisit how you market to women
69
Tips and Strategies to
Appeal to Women