In recent times , the women have moved from the lower cadre of the business world into the higher ranks through education and the acquisition of professional certificates.
Also lots of the businesses in this country are owned by women. Women are making more money than even men and so hold a sizeable portion of commerce.
In this real estate business, a lot of us focus more on the male group because we all believe that it is the men who really buy lands or have the money.
The question now is the focus on marketing to Women? What do we stand to gain when we market to women? Why is marketing to Women different from that of men?
There are 4 components that make up the women’s market and these are:
1. Earning power: what’s in her wallet.
2. High-net worth women-The Ultimate Asset holders
3. Consumer spending power – Household chief purchasing officer
4. Women mean business: Controlling the company checkbook
The first two components talks about the earning power of women and the last two talks about their spending.
The BIG Questions:
Why the focus on marketing to Women? What do we stand to gain when we market to women? Why is marketing to Women different from that of men?
Benefits of Marketing to Women
1. They are more profitable customers in these two dimensions – Loyalty and Referrals.
Women can easily refer friends, family members, neighbors to buy from you unlike men. Once a woman trust you she will make sure that she refers people to you especially if you show some form of appreciation when she buys from you
2. Higher Customer satisfaction – Women who get satisfied by your conduct and the business will always sought for repeat business especially when they have trusted you.
You are going for an inspection with a female client who has her kids with her, assisting her to carry one of the kids or even buying biscuit for them can make such a client remain loyal to you.
3. Better returns on your naira through both higher Customer acquisition and greater customer retention.
Men’s marketing doesn’t work on women for the following reasons.
Once you understand what women want, desire , what they value and how they think, then you will understand why the way you will speak to a man is different.
The Choice of words used to persuade and convince them are different.
Some Differences between Men and Women.
1. Extrasensory perception: Men are better at focused vision (Like a “spotlight”) while women have better peripheral vision ( like “floodlight’) . Women are better when it comes to taste, smell than men .
2. Emotional access : Women are more emotional than men and so when advertising or marketing to Women, you find out that they tend to move towards products that are more emotional than men who will want to apply logic.
3. Attention and focused : Men are good at big , important things and women are good at the little things that don’t matter very much. Women are more sensitive to interpersonal nuances such as tone of voice, facial expression and similar details.
While a man will not take note of your body langauge , a woman is quick to pick it up.
There are instances that some consultants who do not understand women prefer the client doesn’t come with his wife.
4. Contextual thinking: Men are analysts (they take things apart) but women are synthesizers (they put things together)
5. People powered: Women are more people oriented than men that is why you see them having family members and friends around them.
A woman can bring his mother and sisters to come live with her but the man will prefer his siblings stay far from him. He can be sending money to them. He prefers his freedom.
To be continued…
30 days challenge is still on…check yesterday’s vibes for the tasks
Kome Ibagere
The Real Estate Explorer