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November 1, 2006
Majority Marketing Tip: Strategic Choices
Some companies develop women initiatives by asking females in the company to design and launch activities (eg: female client luncheons) or programs (eg: seminars for women clients). I call this a ‘Focused Strategy’, because the offering clearly targets female clients, and primarily (or somtimes exclusively) involves the organization’s female employees.
The other strategy is to create a corporate-level approach that audits, trains, and equips all business development and customer touch-points to ensure all resources are building on the growth in the women’s market. I call this ‘Integrated Strategy’, because it integrates women’s consumer preferences into your product and service, without labeling it ‘for women’. It’s strategically crucial to your organization’s sustainable success to understand when to use either approach, and how to implement for the largest return on effort.
Majority Marketing Tip: Before your company embarks on a charge up either of these strategic hills, take the time to think about (a) your client preferences and (b) your objectives.
ASK: Do our female clients want to be provided with an activity or program separate from her male counterparts? (try a formal or informal survey with female clients). Research tells us that often women enjoy a women’s lunch or seminar event where they can ‘dish’, share experiences, and feel understood. In opting for this choice, ensure the rest of your organization is strongly involved in other activities to engage female clients, or risk the misinterpretation that only the women’s initiative group is taking her business seriously.
ASK: Is our objective to create a corporate atmosphere where women are particularly encouraged to engage female clients, or do we want to ensure that all of our business development resources understand, and are able to effectively network with and market to our female clients? If your organization is male-dominated, you might consider helping equip men with additional skills to connect with and market to women.
Finally, consider employing a blend of these two strategies. For example, some in the home improvement industry have used an ‘Integrated Strategy' by auditing all touchpoints, redesigning their stores, and training their staff without saying “we’re a hardware store for women”, and then layered a ‘Focused Strategy' by offering evening seminars designed for women. A creative mix of both strategies will yield the greatest impact to your bottom line.
Best wishes for your continued success.
Contact Majority Marketing at +1-613-321-1503 to learn about our audit, strategy consulting and training services. That’s what we’re here for!
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