The truth about improving sales with a hungry customer

Women are dominating the headlines today: Hillary Clinton, Lisa Wilkinson and Harvey Weinstein’s victims have us shaking our heads, asking, “How can this happen in 2017″?

But the deep truth underneath all the headlines, and according to one of the world’s largest management consultants, The Boston Consulting Group (BCG) is that the male dominated economy just doesn’t understand women (on so many levels).

And it’s stalling business growth.

According to BCG, “It is a revolution of dissatisfaction in which women are using their checkbooks to vote no on large sectors of the economy, including financial services, consumer electronics, consumer durables, and healthcare. They are saying: “You don’t understand me,” “There are too many demands on my time,” “I have an overwhelming share of household chores and a full-time job,” “Help me or I’ll find another provider.”

Yet, instead of listening to women and adapting gender intelligent leadership and marketing strategies the majority of businesses lack a female centered strategy. As a result, they are vulnerable especially to what they don’t know.

This is despite these illuminating facts garnered by BCG in its landmark global survey of 12,000 women.

“Some observers say that the most important economic and social changes of the early twenty-first century are taking place in China and India. We believe that the emergence of a whole new social and economic order, which can accurately be labelled a female economy—in every country and every arena—is an even more significant upheaval. The data we have gathered during the course of our research is clear and startling:

  • Worldwide, 1 billion women participate in the workforce.
  • The number of working women in the United States has increased by 50 percent in the past twenty years, to 75 million.
  • Working women in the United States generate $4.3 trillion in earned income annually.
  • Women account for 57 percent of the students of higher education in the US and 47 percent worldwide.
  • Women worldwide make or influence at least 64 percent of all purchases in a wide variety of categories, and a much higher percentage in many of them.

On the basis of our quantitative research and our interviews with women around the world, we believe that these indicators will continue to move upward. And, as we’ve said, over the next several years, women will drive an incremental increase of up to $5 trillion in global earnings—bigger than any bailout package,” BCG claimed.

If you want to connect with a customer who seriously wants to do business with you, start in your own office. The women you employ know far more about your Ideal Client than any other entity you could ask.

 

Claire Moffat, owner of http://themicrocelebriti.com.au/specialises in digital identity and connecting businesses to the powerful women’s markets. claire@themicrocelebriti.com.au

 

 

 

 

Claire Moffat

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