Women are not an isolated demographic worth targeting in specific marketing campaigns; far from it. They are increasingly becoming the primary breadwinners in families and for themselves, decision-makers whose tastes & opinions need to be accounted for by businesses on a regular basis.
Recent studies indicate that women influence 73% of consumer spending in the United States, and single women account for ¼ of all U.S. households. The Pew Research Center revealed earlier this year that women now surpass men in the importance they place on having a high-paying career or profession by 7%.
This doesn’t mean family values have been forgotten however. For both men & women, good parenting and a strong marriage still rank as the highest priorities in life. What is becoming more evident in 2012 is the stronger emphasis on balancing that with a good career, for both genders. More women have been enrolling in college, holding bachelor degrees and entering the workforce than men since the 1990s, and the gap has been growing ever since
Women are also a strong reason why social media has taken off the last several years. 73% of U.S. female internet users use Facebook, and are 12% more engaged with brands via social media than just two years ago. They are:
46% more likely to read reviews about a product on line
33% more likely to recommend a specific product or service
30% more likely to write a review of a product or service
The influencing power of women can be summed up even further by one stat: more than half of U.S. female internet users directly feel a responsibility to help friends and family make strong purchasing decision, and 50% have done so in the past.
Contact your BSMG sales representative or call 410-332-6300 to learn more about specific ways to attract women with your advertising.
Retailers might already have the December shopping months on their minds, but they should not disregard October: the National Retail Federation revealed in a study last month that Halloween spending is expected to go up nearly 3% from last year in 2012.
71.5% of Americans will acknowledge or celebrate Halloween in some way, with revenue expected to reach $8 billion. The ways in which consumers will celebrate (and spend) vary:
51.4% will decorate their home
45% will dress in costume
36.2% will throw or attend a party
33.2% will go trick-or-treating
15.1% will dress a pet in a costume
Respondents to the NRF’s survey said they found inspiration for costume or decoration ideas largely from retail (35.7%) or interpersonal relationships (23.7%). Social media sharing platforms like Facebook or Pinterest also play a role.
For many the Halloween season is a fun foray into the fall, and a lead-up to the holiday activities to close out the year right. Retailers can close their year out right by focusing on these consumers early.
As businesses adapt their marketing methods to the rapidly growing digital movement, it’s worth taking a look at the demographic responsible for a significant portion of that growth: the millennials.
The exact definition and parameters of the millennial generation vary, but they are generally regarded as between the ages of 17 and 34 years old, and are more tuned in to the technology around them, and more importantly, the implications of that technology.
60% are employed
61% are single
39% are in a couple
12% are living together
32% are parents (predominantly with younger children)
42% are homeowners
63% are college-grads
22% are Latinos
12% are “faithful” vegetarians
Millennials have a few other common elements worth noting. Many delay marriage, but not commitment; as noted above, 39% are in a couple. They are likely to have children without marrying, viewing parenting as an experience to be done with a village to support new moms and dads. They have more intense focus on their careers as well. Growing up doesn’t mean giving up the carefully tailored identities they’ve created for themselves.
As noted earlier, they are also among the heaviest technology users. According to a recent study by AdAge.com, the average twenty-something switches media venues about 27 times per nonworking hour. 38% of college students cannot go 10 minutes with checking their email, tablet, laptop or smart phone, and nearly 35% of those polled follow the news either most or all of the time via each of those methods. Also worth noting that 24% of those polled said they used newspapers to follow current events, second only to television.
For the millennial generation, what it boils down to is constant access. They expect to be able to get content from anywhere at any time, and they believe they should have options, as well. They will go through multiple channels, but the content itself is paramount to securing their attention, given the sheer number of options of which they can and will take advantage.
While mobile has emerged as the preferred channel, they also have not responded well to channeling content to one source. They want content on their terms, not a company’s.
The bottom line: the millennial generation is setting the tone for media consumption in the 21st century. Being tuned into their habits is essential for businesses moving forward.
Businesses are finding more value than ever in mobile consumers these days, and for more than the obvious reasons. But with more engaged consumers comes more responsibility for businesses to ensure they retain them.
M-commerce users are more likely to do research on a product or service, purchase it online and share reviews online later on. They also tend to be less sensitive to a product’s cost and more influential via their online feedback.
49% of consumers polled by Greystripe said they were more likely to write a review online, and 51% said the easier something was to purchase, they more likely they would buy. 54% said they actively used their device while in a store to help make a decision.
This high degree of mobile engagement creates many opportunities, such as mobile coupons and full-screen mobile ads, but it also emphasizes the need to make the process as easy for consumers on their devices as possible.
Motorola Solutions recently surveyed a group of businesses, with more than half said they were planning on having in-store Wi-Fi, mobile shopping and/or the ability to buy on a device and pick up in-store within the next five years.
The reasoning varied, whether it be to keep up with competition or to increase their inventory choices, but most importantly to cater to their customers. 30% of M-commerce users polled indicated they wanted the ability to order on their phone and pick up the same day at a business’ location.
The bottom line is consumers are savvier than ever these days thanks to the mobile revolution, and it’s up to businesses to keep up.
Grocery retailers are still heavily invested in print products for sales, even at a time where retailers virtually everywhere else are focusing their budgets on mobile coupons and websites, according to coupon and circular insert producer Valassis.
Valassis polled over 50 national and independent grocery stores or chains to establish these results. Among the findings:
90% of grocery retailers use weekly circulars as their main promotional device
50% of retailers saw increases in sales from their circulars
25% saw increased customer retention from their circulars
Newspapers remain the most popular delivery method of their print platforms, followed by shared mail and then directed mail. All three print products led various digital models of promotion by large margins.
Digital media marketing is expanding for grocery stores, though – 66% of the stores polled said they expected to use more digital methods in the future.
When a consumer “likes” your Facebook page, it’s more often than not a showing of loyalty to your brand, as opposed to an interested in the content you publish, according to a new study by loyalty marketing publisher COLLOQUY.
Among the most important factor in showing loyalty to a brand: strong customer service.
There are many types of social media users out there – and knowing how to classify them can help you reach your target audience much more efficiently.
Loyalty management company Aimia recently conducted a study and unveiled their segmentation model which identifies six different social media personas, ranging from the non-existent to the completely devoted.
Whether they think of it as magnetic content or advertising, marketers are increasingly focused on
creating video assets, says market research firm eMarketer. This type of media reproduces the richness that consumers associate with TV, often at a lower cost. And online channels also engage viewers in an active, lean-forward mode. The same trends that are creating growth in technology use, media consumption and content are driving huge increases in online video advertising.
eMarketer estimates that US online video ad spending will grow by a compound annual rate of 38% in a five-year span ending in 2015, making it by far the fastest-rising category of online spending. By 2015, video ad spending will reach $7.11 billion, up from $2.16 billion in 2011. In the past year alone, growth was 52.1%.