In the past, the saying has always been “don’t underestimate the power of branding” but now the best advice seems to be “don’t underestimate the power of women!” Ignore it at your peril.
If statistics out of the US are any guide for the rest of the world to follow, and in the past this has been the case, then everyone in the advertising industry should give their serious attention to this fact. Jupiter Research has concluded that women influence 83 percent of all purchase decisions. There are more women online today than men.
And looking forward, 70 percent of all US women will be online in 2006, and looking even further ahead, 85 million women will purchase products and services online by 2010.
These statistics are huge by anyone’s measurements. Does anyone out there still have doubts as to the potential of ecommerce? Or more importantly, guys, how do your doubts hold up as to the influence of women on the internet?
US women over 40 are devoting more time online per week than running errands, eating or preparing meals, relaxing, or spending time with friends. Their internet time outweighs watching TV, listening to the radio and other media activities.
So what does this really tell us?
Fact #1 Advertisers in both traditional and new media, have up until now, been seriously underestimating women power
Fact #2 Women are the dominant gender when it comes to online spending
Fact #3 Women know women better than men know women (I’m sure most husbands would agree. )
Who better to understand the consumer behavior of women than women themselves? This last fact should lend itself to a rush to employ or promote females into the positions of advertising executives and creative directors. Now guys, don’t get us gals wrong, sensitive men can still create great ads for women and vice versa, but if the above statistics can be believed, then surely you should be eagerly encouraging the women in your industry to play a greater role in both decision making and creativity.
This makes such common sense to me, nothing biased about it.
Penny Archer, herself a “Consumer Queen”, is a Director of SmartDames FZ LLC, an international email List Broker based in Dubai Media City, Dubai. Other articles that she has written can be found at http://www.smartdames.com or http://www.listownerlimbo.com