Marketing to women
byHere’s an excerpt from a very good article on AdAge.com about marketing to older women. I recommend that you read the whole thing. While it is based upon an online approach, I think it has some good nuggets in there for retailers. It explores the idea that marketers are so obsessed with the youth market that they are missing what the article call the “golden bulls-eye of target marketing,” women from 50 to 70. This group is more educated, active and affluent than any preceding generation of women. For many of you these women are a large percentage of your targeted customer. You can read the article for free by either registering at AdAge.com or by using my log-in information.
TARGETING A POWERHOUSE FEMALE DEMOGRAPHIC: OLDER WOMEN
Why Mass Mutual's New Web Strategy Hits the Mark
Why are marketers obsessed with youth when women between 50 and 70 are the golden bull's-eye of target marketing? This group is more educated, active and affluent than any preceding generation of women. Yet many marketers choose to ignore this economic powerhouse. Mass Mutual has shown an unusual level of sensitivity -- and marketing savvy -- with its new online seminar site for older women.
Why are marketers obsessed with youth when women between 50 and 70 are the golden bull's-eye of target marketing? This group is more educated, active and affluent than any preceding generation of women. Yet many marketers choose to ignore this economic powerhouse. Mass Mutual has shown an unusual level of sensitivity -- and marketing savvy -- with its new online seminar site for older women.
80% of household spending It all adds up. More people, more money, more spending and, as time passes, more women. The U.S. Census Bureau predicts a 72% increase in adults 50+ between 2000- 2020 and a slight decrease in adults under 50. Adults 50+ control 77% of the country's assets. Women are responsible for 80% of household spending. Per capita spending is 2.5 times the national average in 50+ households. And because women live longer, this population will skew increasingly female.
Although individual women ages 50 to 70 may be sexy (think Susan Sarandon and Diane Keaton), some companies think marketing to them is not. It's the trend that isn't trendy. But give it time. Health-care providers, real-estate firms, airlines, hotels, health clubs and financial service companies that continue to focus on the youth segment and ignore this group will see sales and share decrease as this population increases.
Email doug@dynamicexperiencesgroup.com
Phone 781-861-7803
www.dynamicexperiencesgroup.com
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