- Aug 09, 2021
- EOE Digital
Do you recall the famous campaign from De Beers expressing that “diamonds are forever”? This completely transformed the diamond market and increased the demand for diamonds. But what made it so successful? You can imagine that this company’s biggest target market is women. Despite what you might think, this segment is not an easy one. Just look at your client book now and I can guarantee the majority of them are men. This might seem odd especially in today’s day and age where women have control over their finances. This market is still relatively untapped and has a lot of potential. To understand how to sell to women you must understand how to market to women. In this article, we want to get past the bias of thinking pink and understand the differences between talking to men and women and how to translate this in the market. This topic is quite a long-winded and interesting one. Therefore, we have divided it up into a two-part series.
Obviously, women and men and not biologically equal. By understanding what these biological differences are we will be able to understand how this affects our buying decision. In order to understand this, here is neurology 101. We rely on our conscious and subconscious minds to make decisions. The surprising factor is that our conscious mind only makes up 10% of a decision. You can imagine that studying the conscious mind alone would not give us an accurate representation of the consumer. Therefore, marketers study subconscious minds, and here is where the biological differences come in.
Values are the ethics that we hold to a high standard. Women tend to have values more related to people and making connections and men tend to be more concerned about power and status. For example, when men meet for the first time you will see questions come up about where they work and their position (almost competitive to a sense). When women meet the first time the conversation steers more towards making a connection in some form or another.
How do you use this information in your business?
This information can be used as a basis. For example, if your target market is mainly female, you can match your company’s values with hers. Women also want to feel connected to people through emotions such as empathy. Having a good customer experience also plays a role a women's choice of brands.
This is the process of exchanging information. On a daily average, men speak 8 000 words while women speak 20 000 words. This doesn’t always mean that women communicate more. When men talk to each other they tend to use short sentences and get to the point. When women share information, they do something called twin tracking which resonates in the saying of it's not what is said but how it is said. When a woman compliments another woman on a piece of jewelry, the other women will usually respond with a “thank you, it was actually an anniversary present”. This strengthens the theory that women seek to establish commonality and build connections. Therefore, it is up to marketers to surprise and delight the target audience. The essence of this factor is to not try to merely sell something to women but try to provide something that is useful and make a connection. Keep a lookout for part 2 as the continuation of effective marketing for women.