It was invigorating and a nice change of pace to spend time mostly in the company of women who, like me, understand the "Power of the Purse." I am very committed to speaking and training mostly men in the auto and tire industries that women are not a “diversity” or “niche” market and how to improve results with women.
Women are the majority of car, tire and service customers, yet at M2W it was the like singing to the choir; very few men attended the conference and ZERO men from the automotive and tire industries were in attendance.
It is puzzling and somewhat perturbing during a time when everything automotive is in a sharp tailspin that overall they still refuse to listen, recognize and treat the majority that is making and influencing the buying decisions – Women.
The old boys network seems to want to cling to the idea that men are still in control of the buying process and that the automotive industry is a guy’s world, even though studies, statistics and the facts say otherwise.
Women influence more than 85% of all auto, tire and service buying purchases, yet 74% of women surveyed feel misunderstood by automotive and tire marketers.
It was comforting and reassuring that women working in other industries are battling the same issues. A standout was Julie Gilbert of Wolf Means Business, a former senior vice president with Best Buy. As many of us marketing to women are aware, it is tough to get support at the top to address the needs of women buyers. Julie met the challenge of shattering the glass ceiling for women head on with results and achievements both for women employees and for Best Buy’s bottom line. She created Wolf (Women’s Leadership Forum) Pack, an international network of women who advise and mentor Best Buy women employees.
Kelley Styring of Insight Farms was so funny and insightful with her research project about how women use and feel about their cars. "Women ‘wear’ their cars. The exterior is the face we show others. The interior is our ‘authentic self.’ The front seat is our workspace. The back seat is the kids area and garbage bag. The trunk is ‘where things go to die.’"
Other sound bites on marketing to women:
• Women are looking for substance – you have to stand for something. Seventy-eight percent of women say leading companies are driven by values.
• "Edgy," "excess," "too much fun" and "living life large" are being replaced by "giving back." Women want to know what you stand for.
• Instead of asking "do I want it?" she’s asking "do I need it?" In the current climate, women are hoping for the best but preparing for the worst. Women right now are looking for value, but that doesn’t necessarily mean they are looking for cheap.
• A woman’s buying process is longer. Good enough isn’t good enough – she’s looking for the perfect answer.
• She is more expensive to acquire, but cheaper to keep. Because she’s already invested more time in her decision, she’s more confident in that decision. There’s a higher psychological cost if she walks away.
• If she complains and you handle the complaint and satisfy her, she’s even MORE likely to recommend you than if she had a good experience. Make it easy for her to complain. She is trying to communicate with you and solve the problem with YOU.
I work very hard to help men in the auto and tire industries better understand what women want, how to accurately communicate and connect with them and how to unlock the purse strings of women who hold the key to survival in these challenging economic times. This is the entire thrust of the AskPatty.com Certified Female Friendly training, marketing and advertising program for automotive and tire retailers.
Guys: Are you listening? (Tire Review/Akron)
