Female Buying Power & CGM

The statistics about the influence and buying power of women in the consumer marketplace are staggering. According to a recent article in BusinessWeek, women directly account for, or influence, 80% of purchase decisions. Instinctively, marketers will try to attract this highly influential demographic, but often with the same marketing techniques they use for men. Inevitably, that is why many marketers fail. It seems simple right? Men and women are different, yet marketers throw softer colors in the tv spot and call it targeted.

Look no further than consumer generated media to see how powerful the female community can be when marketed to properly. Look at sites like iVillage or theknot.com. They are full of discussion around products. It is important to note the distinction here; discussion around products is not the same as advertisements or media buys. Creating a community for women to communicate with each other has effectively created a connection to brands by association.

Consumer generated media can play a gigantic role in the development of online community and be a substantial influence over the buying power of the female consumer. By connecting women to one another in a way that instills trust and allows discussion around ways to make life easier will connect them to products. Will your product or service make the cut?