by: Gina Woodward, WT SBDC
 

I talk a lot about marketing in these newsletters. Perhaps it's because it's what I know best and it's best for me not to confuse anyone with my limited knowledge of all things financial.

I had the pleasure of meeting Ginger McCullough a few months ago. She's an expert in the field of marketing to women and I asked her to share some of her thoughts with all of you.  

Did you know that women are the Chief Purchasing Officers for their families? They shop for their children, spouses, in-laws, friends, neighbors and co-workers. According to a number of studies, women make 85% of all consumer purchases. In the United States they spend $5 trillion annually. Women are also the fastest growing market. 

Women's purchasing and decision-making processes are different from men's.  They follow a spiral path, where men follow a more linear path. Their expectations are different too. They are looking for the perfect solution to meet their needs. To be successful today and in the future, businesses large and small must rethink their marketing plans and customer touch points to address this market segment.

Women want to do business with people/companies they like and respect. Businesses that do focus their marketing efforts on building a good relationship with this market segment earn loyalty to their products and/or services. It has been estimated that it costs six times as much to gain a new customer versus retaining an existing customer. Shouldn't you begin focusing your marketing efforts on this growing market? 

Ginger McCullough
Specializing in
Micro-Businesses
And Marketing to Women
ginmccullough@mac
505-204-6052

Our thanks to Ginger for contributing this information!