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					Multi Media Marketing -
Women and Baby Boomers




October 2008        KATHERINE HICKEY FULHAM, CPA
Why Market to Women Boomers?
The Power of the Purse

Women are going to control 2/3‟s of the
consumer wealth in the U.S. in the
coming decade
Which segment will have the most growth?
  Age 45 to 64 will grow 30%!-Boom


 …that’s why it’s important!




                                     KATHERINE HICKEY FULHAM, CPA
So what should you do?
Before you can navigate the marketing
 maze on Women Boomers
  Get demographics-U.S. & Cape Cod
  Get key industry statistics
  Make decisions on current, accurate data
“So buckle your seatbelts. After all, She’s in the driver
  seat!”                                    Boom




                                                   KATHERINE HICKEY FULHAM, CPA
     Consider these other statistics.
     How do they influence your business decisions?
    37 million women invest today
    43 percent of Americans with $500,000 of assets are women.
•   72 percent of married women are the primary purchasers in
    families
•   42 million women are ages 40 to 60.
•   Women own solely or jointly 87 percent of homes.
•   Women control or influence 80 percent of consumer purchases.
•   By the year 2010, 60 percent of wealth will be controlled by
    women.
    7 in 10 women say they need help with their finances




                                                      KATHERINE HICKEY FULHAM, CPA
One customer market you can’t
afford to ignore
Because of its size and financial clout
 7 Trillion U.S Annual spending by women
       64% of total U.S. domestic product
 47% investors are women-tend to generate higher returns
 than male counterparts
 70% of women will be solely responsible for their finances at
 some point in their lives
 Control half of all private wealth in U.S.
 In 2012 women will control two-thirds of private U.S. Wealth
                                  ABA Bank Marketing-October 2007




                                                               KATHERINE HICKEY FULHAM, CPA
Women and Small Business
 100 million women owned businesses in the U.S.
 generating 2.5 trillion in annual income
 Women are starting businesses at nearly 2 times
 the rate of men. Center for Women‟s Business Research
 Women have 50% ownership in 40% of
 companies in U.S.     ABA Bank Marketing-October 2007


 Past 15 years women have been starting 70% of
 all businesses.



                                                         KATHERINE HICKEY FULHAM, CPA
Run Your Numbers!
 Women today comprise a significant
 majority of customers for most businesses.
 Focusing on their preferences is BIG
 business
 Which can dramatically affect a company‟s
    sales
    market share &
    profits
                                             “Don‟t Think Pink”




                                                      KATHERINE HICKEY FULHAM, CPA
Crunching the Numbers:

Maximizing Marketing Value During a Downturn.
   During time of economic stress is the worst time to
  scale back on your marketing.

  A downturn gives companies a golden opportunity to
  develop deeper relationships with their customers & partners
  through relationship marketing.



                                                September 30, 2008   8




                                                        KATHERINE HICKEY FULHAM, CPA
Brand-Specific & Company –Friendly Numbers



   Importance of having strong research
   based on facts not on opinions or assumptions
   Need to customize your data
   Reframe statistics to be relevant to your brand
   Translate your research to specific strategic
       observations &
       action points                         “Don‟t Think Pink”




   You need to TARGET your market



                                                      KATHERINE HICKEY FULHAM, CPA
Women households on Cape Cod
  Of 86,765 households, there are …
    Households with a married woman – 55,919
    Households with at least one single woman – 25,369

   Of all these households…
    32,000 are likely investors
    76,000 are credit card buyers
    34,000 are heavy credit transactors
    43,000 have credit cards for upscale department stores
    28,000 purchase online
    74,000 are mail order buyers Mark Linse




                                                KATHERINE HICKEY FULHAM, CPA
Interest of Cape Cod Women
The Arts = 20,000
 Beauty & Cosmetics = 19,000
  Career & Career Improvements = 19,000
   Community & Charities = 37,000
    Computers = 52,000
     Cooking = 61,000
      Dieting & Weight loss = 22,000
        Exercise & Health = 42,000
         Fashion = 33,000
          Home Improvement = 66,000
            Investing & Finance = 33,000
             Travel =34,000                Mark Linse,M.G.M. Mailing Lists




                                                  KATHERINE HICKEY FULHAM, CPA
Women as customers and clients-
second-home market

 14,548 second homes on the Cape are
 owned by women.
 41,151 women primary homeowners (all)
 Secondary & Primary women homeowners with $100,000+
 estimated income= 19,857
 Can you find them and serve them?
  And if so, what do they demand as
 customers and clients?
                                         updated , Mark Linse




                                                KATHERINE HICKEY FULHAM, CPA
Shift in Gender of core consumer

  A “traditionally” male-oriented company
  waking up to the gender shift.
  After internal research the owner of
  company that produced & sold riding
  lawn movers was “shocked” to discover-
  80% purchased by women
                 Women Roar -marketing guru Tom Peters,   Don’t Think Pink




                                                                 KATHERINE HICKEY FULHAM, CPA
Financial Assets-
of Women Households on Cape Cod

  674 have financial assets of $2 million or more
  6,507 have financial assets between $1 million
  and $2 million
  1,965 have financial assets between $750,000
  and $1 million
  5,451 have financial assets between $500,000
  and $750,000
  17,699 have financial assets between $250,000
  and $500,000                Updated Mark Linse, M.G.M. Mailing Lists




                                                             KATHERINE HICKEY FULHAM, CPA
Net Worth
of Women Households on Cape Cod

  7,648 have net worth of $2 million or more
  6,285 have net worth between $1 million
  and $2 million
  14,189 have net worth between $500,000
  and $1 million
  33,342 have net worth between $250,000
  and $500,000            Updated   Mark Linse, M.G.M. Mailing Lists




                                                       KATHERINE HICKEY FULHAM, CPA
 Profitability in Women‟s Market

“Marketing to women will deliver
 more profit to your bottom line
 than ..the same budget against all male
  budget”
 “Marketing to Women-Marti Barletta”




                                       KATHERINE HICKEY FULHAM, CPA
Retailers are failing

By targeting Baby Boomer Womens‟
age rather than a lifestyle.                                 AP article 4.12.07



Rather than market to her B.C.
  “Birth Certificate” age
Market to her A.C.
  “Adjusted Chronological ” age
                                              Boom


   Doug Fleener, The Profitable Retailer & The Retail Experience
             Doug@dynamicexperiencesgroup.com

             www.retailnewsletters.com (Free newsletters)



                                                                             KATHERINE HICKEY FULHAM, CPA
“On Why Not to just
 Shrink it & Pink it”

  L.L. Bean-70% of their customers are women,
  most are 45-55 years old
  College educated, grown children & career
  Price-conscious shopper
  Biggest growth areas- developing sporting
  equipment especially for her

                                 Fran Philip, Chief Marketing Officer - LL Bean




                                                     KATHERINE HICKEY FULHAM, CPA
 Higher Customer Satisfaction
  Effectively targeting women generates higher customer
  satisfaction –among both men & women

  Women want all the same things as men-and then some

  When you meet the higher expectations of women, you are
  more than fulfilling the demands of men

  You‟ve got the 2 satisfied customers for the price of one
           Marketing to Women-Marti Barletta



   Women are three times more likely than a man to
share the outcome of a purchase experience with others
                                               ABA Bank Marketing October 2007




                                                                                 KATHERINE HICKEY FULHAM, CPA
Importance of Boomer Women


 Women influence 80% of all consumer-buying
 decisions in the U.S.
 3 out of 4 of the women are mothers.
 Children influence nearly 50% of what mother‟s
 spend
                   Michael Mendenshall, VP,Walt Disney Parks & Resorts Research




                                                                   KATHERINE HICKEY FULHAM, CPA
Travel
Women online
   65% use the web to purchase &
   arrange travel reservations
   71% use web for travel research
Travel is critical to her state of mind
Women make 80% major travel decisions
31% of all trips taken by boomers include at
least one child or grandchild
                           Boom




                                     KATHERINE HICKEY FULHAM, CPA
 Power of Grandmother‟s Purse
Grandmothers
  spend $30 billion annually on grandkids
  Most purchases-birthdays & holidays
Big story is the grandparents‟ market.
By 2010, 80 million grandparents in U.S.
Generous gift givers
             Age 45-64 biggest gift givers
             Age 55-64 2nd biggest gift givers       PTW




                                        KATHERINE HICKEY FULHAM, CPA
  Grandparent Study

    87 % of grandparents buy clothing for their
    grandchildren
    80% purchase books
    78% purchase “fun foods”
    52% help pay for the grandchildrens‟ education
    45% purchase DVDs or video for their grandkids
    37% purchase jewelry
    31% buy video games
    76% buy toys, accounting for one out of every 4 toys
    sold in America each year or approximately $3.4
    billion annually.
AARP 2002 “Grandparent Study and American Demographics




                                                         KATHERINE HICKEY FULHAM, CPA
                                Fitness
7 in 10 Boomer Women feel a lot younger that actual age.

62 % work to maintain a youthful appearance.

“You can stop „normal‟ aging” . “Normal is not normal at all”

“It’s a choice you make by the way you live … to tell your cells to grow to
    build a strong, vibrant body & mind”

Two master signals to our cells:
         Exercise
         Emotion                     Dr. Henry Lodge, Columbia Medical School 3/18/2007


42.4% Boomers have a regular exercise program (2+ times weekly)
   ( 2% more than all adults)         Center for Media Research 10/18/07


96% of women-having a healthy family is a top priority

“Barnstable has the 6th lowest body mass index in the US”
                                                     AARP Healthiest Home Towns October 2008




                                                                           KATHERINE HICKEY FULHAM, CPA
Home & Family
Women initiate 80% of all home improvement
  purchase decisions
  . . . especially big ticket items
        - Kitchen cabinets
        - Flooring
        - Bathroom fixtures
Lowe‟s & Home Depot –50% of their
  customers are women
                                 Marti Barletta, PTW




                                     KATHERINE HICKEY FULHAM, CPA
Home & Family
2004 survey of affluent women (Medium HHI $150,000)
 93% of respondents expect to decorate &
  redecorate their homes indefinitely.   Marti Barletta



Ace Hardware study
- Women spend 50% more per average purchase
  than men.
- Women spend $50 billion a year in the home
  improvement industry       -Boom




                                                KATHERINE HICKEY FULHAM, CPA
Boomers Biggest Green Shoppers
  Male & female groups 55 years or older are above average
  users of environmentally friendly home products.

  Of those who don‟t buy green
      50% say these products are too expensive
      17% don‟t believe they are much better for the
        environment
  Successful earth friendly sales-
      They‟re going to have to start considering price as a key
      issue,
      As well as finding ways to back up claims more clearly, to
      build trust      „Sarah Mahoney , Mediapost 9/9/08




                                                   KATHERINE HICKEY FULHAM, CPA
Economy & Strategies

Women use the internet to manage their lives
   - go to few sites
   - spend more time on those sites   Power of the Purse



 US consumers are going online
   - discuss their growing frustrations
     about the economic downturn
         share:
           money-savings tips
           purchasing strategies            Nielsen Online




                                                             KATHERINE HICKEY FULHAM, CPA
Technology
 “78% of women say they use the internet to
  research a product before hitting the cash
  register”                                                  –Boom



  Hottest items women> 40
     cell phones, digital cameras, DVD players & computers
  Website is vital
  30% of women state a bad website will induce them to
  shop elsewhere.




                                                      KATHERINE HICKEY FULHAM, CPA
Super Rich

 Read & Go Online More
 Affluent “heads-of house” read more
 publications
 Consumption of media increases with
 affluence
 Use the internet more heavily than
 balance of the population
   2008 Affluent Survey from Ipsos Medelsohn




                                               KATHERINE HICKEY FULHAM, CPA
 Cape Business Publishing Group
How Cape Business can help you reach women & baby
boomers
   Cape Business Publishing has access to the largest, most
   precise data base on Cape Cod.
   Health & Wealth magazine reaches the 20,000 highest
   assessed homes on Cape Cod
   Nearly half of their mailing goes to second homes & mail
   Health & Wealth to the primary address of those second
   homeowners

Ask yourself these questions:
#1) Who do you want to reach?
#2) How do you guarantee they will see your message?
#3) Once you reach your prime customers, how do you keep
  their attention?
#4) Once you have their attention, how do you follow up and
  develop a relationship with your customers?
                 capebusiness.net
                BusinessConnector.biz


                                                  KATHERINE HICKEY FULHAM, CPA
Communicating with print materials

 Great words –
     Tap into our myths
     Our dreams
     Our aspirations
     And live beyond the exposure of a
     few ads.
                          Brent Green




                                        KATHERINE HICKEY FULHAM, CPA
Website
 One of your biggest marketing tools.
    walmart.com –has become it‟s biggest marketing tool.

 Your website makes you just as big as Walmart
    Computer screens are the same size !

 Make sure you have a website

 Places to have links to your website:
     Hyannis Area Chamber of Commerce
     Cape Cod Chamber of Commerce
     Cape Cod Publishing Group

     Tap into your audience with your other marketing:
      -print
           -radio
                  -online
                          -cable TV
                                  -direct mail

                                                      KATHERINE HICKEY FULHAM, CPA
Online Radio
Big Jump in online radio listening
 at work
Radio continues to hold its
 audience-
   63% listen daily
   Arbitron & Edison Media Research
   Marketing Charts 9/30/08


   92% of Cape Codders listen to
   radio each week                    Arbitron




                                                 KATHERINE HICKEY FULHAM, CPA
Radio on the Web Making Gains
Nearly one in five online users now
 visit a local radio station web site in a
 typical month representing more than
           18 million adults.      The Media Audit 11/9/07




                           CapeCod.com




                                      KATHERINE HICKEY FULHAM, CPA
Vehicle Buyers & Radio Media

Vehicle Buyers Planning-To-Purchase
        Out-listen the average adult on the radio by 20%

Internet-largest increases in media by automotive consumers
   ranking 2nd behind radio.

Our latest research indicates that radio is one the strongest ways
  for the U.S. auto industry to communicate its product
  advantages to planned vehicle purchases..

Listening in-car is one of the reasons that radio makes up such a
   strong proportion of a consumer‟s media day.
        Center for Media Research” 9/21/2007




                                                       KATHERINE HICKEY FULHAM, CPA
Taking color to the next level

39 % consumers say they will walk out
  of dealership if it doesn‟t have a
  vehicle they want in their color of
  choiceFord Motor Company research




                                      KATHERINE HICKEY FULHAM, CPA
Consumers Prefer to Buy From
  From companies that reflect their values
  Nearly nine in ten Americans say the words
  “Conscious consumer” more likely to buy
   (if products are of equal quality & price) from companies that:
           –   90%-Manufacture energy efficient products
           –   88%-promote health & safety benefits
           –   87% -support fair labor & trade practices
           –   87%-commit to environmentally-friendly practices
                 “Research Brief 11/12/07”




                                                      KATHERINE HICKEY FULHAM, CPA
Search & Purchase Decisions
Depends on type of Product            Research Brief 6/5/08



Need to articulate value & benefits of your product
                        Doug Fleener, Dynamic Experience Group

Consumers‟ word is best advertisement
87% -trust direct recommendations from other consumers - what
     marketers call “word of mouth”

Girlfriends-one of most cherished elements. Even more
         important with age- key to being happy &
              living long




                                                              KATHERINE HICKEY FULHAM, CPA
Marketers are overlooking the missing link-
  Boomer-To-Friend (B2F) Connections
                            New survey from PRNewsFoto/Weber Shandwick March 19, 2007



89% of boomers advise their friends on purchasing decisions

89% of boomers asked for recommendation advised friends or
  other boomers

B2F communications are circular, with 93% of boomers have fellow
  boomers & friends as trusted sources of information

Boomers communications
    -84% face to face
    -82% phone
    -45% online

Financial services –”Code of silence”
    -Only 5% of boomers made recommendation in past year- in areas
        Insurance, banking, investments & retirement


                                                                           KATHERINE HICKEY FULHAM, CPA
Boomer Elites
 Boomers are the wealthiest generation in US
 History
 Only one in ten is truly affluent
 Boomer Elites have plans to invest in big ticket
 items:
    Technology products, furniture and appliances
    at a rate of almost twice the spending of the average Boomer.

 Willing to pay a premium for quality goods and place
 brand names in high regard.
 Particularly true for spending on their homes which they see
 as an investment as well as an extension of their own
 image.                  Focalyst, June 14, 2007




                                                     KATHERINE HICKEY FULHAM, CPA
Profile of        Average Boomers   Boomer Elite

Percentage Male      49%               64%

Married or           69%               92%
Partnered
Children in          37%               42%
Household
College              73%               92%
Educated

Health Status        55%               75%
rated Very
Good/excellent

Avg. Market        $282,000         $519,000
Home Value

                                        KATHERINE HICKEY FULHAM, CPA
Planned Spend on Big Ticket Items in the Next Year (Of those
consumers that plan to spend in the next 12 months)




                             Total Boomers $   Boomer Elite $   Difference %


Household Items              $2,198            $4,608           110%

Technology
Products                     1,092             1,886            73%


Travel - Next Trip           1,593             2,580            62%

Home
Improvement                  6,034             9,632            60%




    Source: Focalyst, June 2007

                                                                       KATHERINE HICKEY FULHAM, CPA
Media-Boomer Elites
 Boomer Elites are avid consumers of media, says the study,
 more so than Boomers in general. On a daily basis,
 91% watch TV
 87% read a newspaper or magazine
 76% listen to the radio
 75% use the internet
 Print is particularly effective with this group as they spend
 an average of 30 minutes a day each on newspapers and
 magazines, with 4 in 10 saying that they read the ads in the
 magazines they subscribe to.
              » Focalyst , June 2007

                          Another local media is Comcast Spotlight




                                                          KATHERINE HICKEY FULHAM, CPA
Marketing to Her
Promote customer service
Promote quality
Create a little magic for your customers

Make your customers‟ shopping easier for the
holidays
         “We‟ll find it, we‟ll wrap it, we‟ll do it all”   Talbots


Baby Boomers spend 43 billion a year on apparel




                                                              KATHERINE HICKEY FULHAM, CPA
Why is marketing to Cape Cod women boomers so important?
- Generally higher level of wealth on Cape Cod in both
   estimated income figures & home values
- Large proportion of the household spending
- The growth of the internet by women as a vehicle of
  -research
  -shopping
  -conducting transactions
  -managing financial accounts
- On-going growth of the second (seasonal, vacation, non-
   resident) homeowner segment of our economy
- With women accounting for almost 30% of primary owners
   of vacation type home (and sharing ownership with another
   estimates 30%) their role in influencing Cape Cod’s growth
   and prosperity simply can not be underestimated
                                              Mark Linse, M.G.M. Mailing Lists




                                                      KATHERINE HICKEY FULHAM, CPA
The largest & fastest growing
market?
 The women consumer !!!

 “Why is it important?
   The business is there

   The real question is,
         Where are you?
                   “Marketing to Women-Marti Barletta




                                                        KATHERINE HICKEY FULHAM, CPA
 Don‟t let the Grinch steal Christmas
Stores Brace for Worst Holiday Since 1991
For retailers…calling for weakest Christmas in 17 years
With the economy, gas & fuel prices Consumers will likely be
   saying “no-ho-ho” unless you can show them value.
They are going to buy what really excites them Mediapost 9/18/08
High–end retailers are going to have to work harder to tempt
   shoppers.
While shopping, 70.9% like it when employees wish them a
   “Merry Christmas” because it is the Christmas season
92.6% say malls, stores and parks should be allowed to display
   the Nativity Scene during the Christmas season
   BIGresearch 9/26/08

                         Thank goodness women are the primary
                         consumers when it comes to Christmas
                         Shopping!




                                                       KATHERINE HICKEY FULHAM, CPA
       Online Consumers Shopping Strategies




                                              KATHERINE HICKEY FULHAM, CPA
Harris Interactive 10/13/08
What online Shoppers are Buying




  Harris Interactive 10/13/08   KATHERINE HICKEY FULHAM, CPA
Online Shopping Tools




Harris Interactive 10/13/08


                              KATHERINE HICKEY FULHAM, CPA
   Americans prefer gift cards or cash to
              Holiday Gifts
Consumer mood:
56% will be looking for sales more as they holiday shop
59% will be spending less this year than in holidays past
46% of those who give/receive gifts during the holidays say
  they hate to return gifts because of the hassle
84% say gift cards are a smart alternative for people they don‟t
  know well
10% have re-gifted gift cards received
22% re-gifted gifts received
23% like to exchange gifts for things they would rather have
16% have received gift cards that they‟ve never redeemed
16% have received gift cards that they‟ve only partially
  redeemed
                                                 BIGresearch 9/26/08




                                                      KATHERINE HICKEY FULHAM, CPA
The Secret to winning her trust…

… is to know her Heart, Mind and Life

The Secret to “winning her purchases
 is to ignite an intense connection
  between her emotional need
  and your Brand!” Marti Barletta-PTW




                                        KATHERINE HICKEY FULHAM, CPA
“Good Days and Bad Days,
      and Going Half Mad Days” Jimmy Buffet
“Monday was all three of those all rolled up in to one”
(referring to Monday, October 13, 2008)   Doug Fleener, Dynamic Experiences Group 10/14/2008

Good part of the day obviously was the stock market.
Bad part of the day were the ugly predictions coming out about
    this holiday season
Going to half-mad part- between the stock market & all the rest
    = “wicked” roller coaster ride
Things to do:
1.  Increase the amount of marketing to your customer list –
          more productive to market to the customer you know versus the one
          you don’t know. Market to the top 100-250 customers who offer them
          most opportunity.
2.        Keep your team motivated and focused
3.        Invest time, energy and even more dollars in employee
          training.


                                                                                 KATHERINE HICKEY FULHAM, CPA
    Winning her loyalty
Eight Main Deliverables
   1.  Help Her Solve a problem
   2.  Provide Her with Genuine Value
   3.  Offer Her Customization
   4.  Promise and Deliver on Authenticity
   5.  Provide Her with Filtering Tools
   6.  Feed Her Attention to Details
   7.  Satisfy Her Demand for Service-
       only 19% of women say they actually receive great
       customer service even though 97% expect it
   8. Humanize the Experience
                                                        Boom




                                              KATHERINE HICKEY FULHAM, CPA
Visit Marti Barletta‟s Website

       The TrendSight Group




           http://www.trendsight.com




                                       KATHERINE HICKEY FULHAM, CPA
 Marketing Opportunities
Life events mean marketing opportunities…
They include new reasons and ways to consume the
  same products they always have.”
                                      Diane Crispell, Rpper ASW



It’s all about:
  Finding Answers
  Creating Solutions
                     Thank you for joining us today



                                             KATHERINE HICKEY FULHAM, CPA
  Multi Media Marketing -
  Women and Baby Boomers
                                      Presentation prepared by


                     Kathey Hickey Fulham, CPA, MST
                                    Certified Public Accountant
                                   Master of Science in Taxation



                        Finding Answers
                              Creating Solutions

                                      7 Parker Road
                                    Osterville, MA 02655
                                       508-420-3456
                                         VISIT MY WEBSITE
               Subscribe to my free monthly newsletter with many tax savings tips

                         www.KatheyFulhamCPA.com
October 2008




                                                                               KATHERINE HICKEY FULHAM, CPA

				
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