Women Consumers: The 85% Solution

Did you know that 85% of purchases are made by women consumers (including everything from autos to healthcare)?  That’s a big number waiting for you to capture.

Did you know that the average woman is expected to earn more than the average male by 2028? Those are relationships for you to nurture now, for your future revenues.   That’s only 15 years away.

Did you know that women earn 40% of the world’s GDP?  Well, that’s amazing, but less likely to be something that can impact us in the smaller businesses today.

Let’s stick with the 85%, because those are numbers that you can touch and feel now.  Those are numbers that will make your business successful now, when you are likely to need it most.

As small business owners, we can connect personally with our customers much better than the big companies can.  We can do so by, obviously, providing quality services and products.  We can also do so by being the kinds of companies with which our customers want to do business.  That’s where thinking “social” and reaching out to women can make a big difference.

So what are you doing to touch that 85%?  Are you involved in your communities, where the women are? Are you taking the time to ask women customers what else they might want from you?  Do you have women sales people to interact with women consumers?

I suggest that you think about getting to 100.  Think about what an extra 15% of effort could get you.  Try to increase your corporate community involvement… your efforts at customer feedback… your hiring and visible placement of women by 15%.  Take a small action to make a big difference.  Mix up a solution that will help you capture some more of that 85%.  And, interestingly, that is likely to be a solution with wide-ranging benefits, too.

We’d love to hear your feedback! Let us know what you think and any thoughts that you have in the comment section below!

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