Women influence 80 percent of all consumer purchase decisions. It pays, then, to put your female customers up on a pedestal. Is your company in touch with its feminine side?

By: MATT ALDERTON

Consider the following numbers: 51, 80 and 60. The first, 51, is the percentage of the U.S. population that's female. The second, 80, is the percentage of consumer goods that are either purchased by or because of women. The third, 60, is the percentage of the country's wealth—$1 trillion—that women are expected to control by 2010.

So, what do the numbers mean? According to women's marketing expert Marti Barletta, they mean that women are a powerful and important consumer market worthy not only of companies' attention, but also of their marketing dollars.

"Clever, successful [businesses] are certainly reaching out to women because they recognize they are their best customers and their best source of referrals," says Barletta, author of Marketing to Women: How to Increase Your Share of the World's Largest Market.

As founder of Winnetka, Ill.-based The TrendSight Group, Barletta specializes in helping companies of all sizes understand the female market. So, we asked her why—and how—small businesses should harness their customers' "girl power." Here's what she told us.

Small Business Resource Center: Why should small business owners care enough about female customers to market to them?

Marti Barletta: In a nutshell, all companies, large and small, need to care about female customers because they are the world's biggest spenders. It's well accepted that women are the world's most powerful consumers, as they make or influence more than 80 percent of all consumer purchase decisions. Whether it is potato chips or silicon chips, women are the primary buyers.

Companies that market business-to-business need to pay attention, as well, because when it comes to business buying, women play a significant role. Obviously, it is no longer unusual to see women in the conference room or the board room. It is also important to note that 53 percent of purchasing managers and buyers are women and 58 percent of wholesale and retail buyers are women. Human resources directors, who are often responsible for selecting the companies that supply goods and services, are also mostly females.

And let's not forget about women-owned businesses. They constitute about 40 percent of all companies in this country. And this segment is growing at nearly twice the rate of all other firms. In fact, 70 percent of all new business start-ups in the last decade were started by women. And these businesses have a three-year survival rate equal to that of all firms.

SBRC: What are women buying, exactly, and where are they buying it?

Barletta: That's a pretty broad question, since 51 percent of the population is female. The better question may be: What aren't they buying? It's well accepted that women are the world's most powerful consumers. In fact, they are responsible for the majority of purchases in categories that were once considered exclusively male, including cars and electronics, including computers. Where are they buying? Women are shopping online and in stores. They are looking for the best intersection of price, convenience and customer service. These are all things that you need to consider when you are seeking her business.

SBRC: Do companies need to single women out in their marketing efforts? Or is it enough to assume that they're already reaching women with their general marketing campaigns?

Barletta: Overtly characterizing a marketing program "for women only" will backfire with both genders. I like to say, "Don't paint your brand pink." It will alienate men and make women suspicious that they are getting an inferior product.

The best marketing-to-women efforts are transparent and actually generate higher customer satisfaction amongst both women and men. Why? Because when women are buyers, they want everything that men want when they make a purchase and more. Accordingly, when you meet the higher expectations of women, you are more than fulfilling the demands of men.

SBRC: What are those demands, exactly? What are women looking for in the companies with which they choose to do business?

Barletta: Like men, women are looking for convenience and the right product or service at the right price. Once she has determined that these criteria have been satisfied, women prefer to do business with good corporate citizens—companies that are giving back to the community or are environmentally conscious. They are also loyal customers because they invest quite a bit of time in making the initial purchase decision. And they are a great source of referrals because they want to share good news with their associates. I always tell my clients to let their corporate halos shine; in an era when many goods and services are interchangeable, these good deeds can make a difference.

SBRC: If I want to reach women, where should I be advertising? Is there a rule, with regards to medium or message?

Barletta: I don't believe that there is a one-size-fits-all answer to this question. Which women? What product? What is your budget, purchase cycle, availability and seasonality?

SBRC: How important is word of mouth to female customers?

Barletta: Women are a great source of referrals and will also want to warn others if they have had a less than stellar experience. One great way to make this work to your advantage is to turn those mishaps upside-down. If she calls with a complaint or problem, go the extra mile to rectify it and then make up for her inconvenience with additional products or a gift certificate. Suddenly, she will be telling people about how responsive your company is instead of about the original problem.

SBRC: Is it a mistake to assume that there's a female archetype in the marketplace? Are all women the same for the sake of marketing to them?

Barletta: Most women wear many hats. They are mothers, wives, daughters, volunteers, professionals, etc., all at the same time. More often than not, she enjoys balancing these roles and is not stressed by them. Most moms, for instance, are working women, so the best idea is to think about when she is going to be using your product and target your message and media accordingly. Of course, any time you can speak to her specifically—via direct mail, e-mail or face to face—and acknowledge her specific situation, it should work to your advantage.

SBRC: OK, so I want to start marketing my business to women. What's your best advice for me?

Barletta: Don't be afraid to get started. Small changes can yield big results. Are you open so she can take care of business on her way to work or school? If you are a retailer, she is likely to be visiting with kids in tow; see what you can do to make the store environment fun—and safe—for them. There are lots of women deciding where to shop based on stroller accessibility and restroom availability. And, getting back to transparent marketing, these features, and a delivery option, will be appealing to many of your other customers, as well.

If you are selling to her in a business context, make it easy for her to order from you regularly by keeping her prior orders on file. Consider a monthly reminder service or an occasional unexpected thank you for loyal customers; think about a gift card from a local coffee or sandwich shop so she can treat herself.

Marketing to women can be your key to success.

For more information about Marti Barletta, including her tips for marketing to women, visit www.trendsight.com.