Research has show that women control over $20 trillion annually in consumer spending and yet some companies underrate this female factor. Though some organizations have gone to great lengths to reach the woman market, most marketing campaigns do not view women as potential customers. Even though they use women on advertising billboards, the main target is to attract the male consumer.
Currently, we can see banks coming up with accounts that are favorable to women and yet this was not the case before. But for this to work the marketing team of any company needs to dialogue regularly with their women customers and identify their needs, hence design products that are tailor made to address their requirements. It is all about customer relation management and relevance.
I personally love the way that small business person does it in the market, just by adding an extra mango for their loyal customers. Or that barber who gives his young customer a free haircut knowing so well that he has many years of looking good ahead of him. But as a business grows it becomes difficult to offer such tailor made services.
Women juggle a lot in their day to day activities from work, family and personal life. Therefore, business owners need to come up with ways to offer timesaving solutions to women. One way of doing this would be making it easier for women to get financial advice, healthy meals tips or getting in shape all under one roof.
Business brands need to realize in the current setting women have a say in purchasing decision at home since that have gain financial power through career development and also business entrepreneurship.
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