The Female Consumer; Understand HER Influence.
A few summers ago ( oh heck, way back pre COVID ), my house was the place to be for my kids, their friends and all the moms. Around 3:32 pm every Friday, my front door opened and closed as a revolving door in a fancy hotel on the Vegas strip. Kids in, kids out. Generally, the mom’s stayed close to the rose. But the other door that swirled with action was my fridge door! See, I had this rule; no kid was to ask me IF they could get something to eat; they were to take what they wanted.
The afternoons would wind down, and the vultures (aka the kids) would stumble into the kitchen to let us moms know it was that time; dinner time. Of course, every week’s meal was different, and they were always excited to know what yummy food would fill their bellies. My dining table sat nine comfortably; I often had 11 or 12 little bums to squish in; magically, we always figured it out.
The kiddies would squish in; the moms would plate and serve the food. We placed juice and condiments on the table and let them enjoy the feast, and we enjoyed the (often) hilarious conversations that took place.
Like a bolt of lightning, the food was gone, and so were the kids.
Rinse, repeat, every Friday for as long as I can remember.
You might wonder why I am telling you the story of my kid’s crazy Fridays. Well, one day, not too long ago, I got a call from one of my mom friends. “Katie, how are you?” she started the conversation, “I am good, how have you been? It has been forever since we’ve gotten together” I could hear her laughter over the phone. “Isn’t the saying of the last few years, I miss you!” I smiled. “I miss you too” before I could go on, she cut me off “we also miss our Fridays and I thought you would enjoy what just happened in the grocery store! I was shopping with the kids, going down the aisles as I normally do, when my boy told me to stop. He said, “Mom, get that juice; it’s the one Noah and Ela’s mom had at their house!” So I did, and we talked about all our fun times at your place. We should start that up again; we all miss those Fridays.”
We made plans to do just that, and last Friday, I had a house full of kids and a bottle of rose!
Here’s how this story impacts you.
A CPO in the corporate world is a person who is responsible for the strategy and execution of all product-related activities within an organization.
See, women are the Chief Purchasing Officers of the home. She is responsible for making the home (organization) run smoothly. She chooses the shampoo you use, the food you eat, and the products your kids are exposed to and most often, her influence spreads far past just one organization (family) into that of those she impacts; her kids’ friends, her mother, sister, brother, inlaws and friends. She is usually the person most focused on the needs and preferences of those surrounding her.
When I got this call, it got me thinking I needed to share this story and the impact she has on your business. For example, every time a kid ran up my driveway, they noticed the car brand I drove, which plays a part in priming their mind for their vehicle of choice in the future. Or like the example of the juice my friend’s son just had to have; he was exposed to it every Friday and remembered it; not only did he remember it, he asked for it, and his mom bought it.
Women, do and will continue to, influence all household purchases. Women are the Chief Purchasing Officers in their households and the most influential consumers in the world. We are the economy of the United States. As women have become more educated, with far more financial strength and decision-making abilities, their earning power has grown exponentially.
According to Inc., “Women earn more higher-education degrees than men and start new businesses at a faster rate. Women’s earning power is growing faster than men’s. And women now make up more than half of Twitter users and Facebook subscribers.” In fact, according to the Inclusionary Leadership Group, women make or influence 83 percent of all non-business-to-business consumer purchases. Not only do females hold veto power on the majority of purchasing decisions, but they are also a business’s number one referral source!
Being aware of her impact is the tip of the iceberg. You must also know her influence, which will only benefit your brand experience strategies so they resonate with the decision maker: the woman. Yet the reality is, most businesses still don’t take this huge female customer segment very seriously, and organizational team members are not given the tools to tailor the customer experience to women. In a very real, male-dominated world, women are still dealing with the long-standing idea of the perceived female lack of power when in fact she has been the main influencer of purchases for centuries.
It’s puzzling to me just how few organizations don’t take a closer look at this customer group; after all, she is the most powerful customer. She directly impacts your top line, referrals, and future customer base.
Take notice of the brands your kids gravitate to, and ask yourself, is my brand one SHE would stand behind; do I provide an experience that SHE can’t live without? If you are unsure, it’s time to CustomHER Experience.
