The Harvard Business Review is reporting today in their "daily stat" that women control almost $12 trillion in consumer spending. That's 70% of the world's total. Yeah, 70%. The HBR is actually quoting from a study done by the Boston Consulting Group. The study yielded some interesting findings…findings that are probably no surprise to folks like Michele and Holly, who have been preaching about the power of women in the marketplace for years, but for the rest of us…we better figure this stuff out, sit up and pay attention.
The survey asked more than 12,000 women in 22 countries a battery of 120 questions. They found that just over 70% of mothers in the U.S were in the labor force and it revealed that 48% of women feel significant stress from time and money issues. 45% said they don't have "enough time for me."
The survey also showed that women place a premium on life values and have lofty goals for themselves and for their families (hey camp guys…you listening?). According to the research, women want more:
- Love and connection – lasting, romantic relationships; happy, healthy families; connections with friends, collegues and neighbors
- Fulfillment – freedom to pursue happiness and satisfaction
- Time and work-life balance – the ability to "make it all happen" and make the right trade-offs and tough decisions
For years, camp directors have realized that moms were their primary marketing targets. Moms make the decisions whether the kids will go to camp or not and they determine where the kids will go. But this survey should open your eyes to another very real fact…women are crying out for help and camps and conferences can provide just what they need.
Take a closer look at the top two bullets above. "Love and connection." By providing meaningful family experiences, camps and conferences can provide the support and resource and the time that will help build "happy, healthy families." Camps can also give women the place and space to really connect with their communities of friends and collegues.
Real quick…picture your typical "donor" in your mind. Okay, be honest. Did you picture a man or a woman? With women controlling over 70% of the consumer spending, you should be thinking "she" more than "he." The second bullet above states that women are looking for fulfillment. Through active volunteer and donor programs, specifically targeted to women, you can give women the fulfillment they seek.
Today's the day. Get your staff or board together and figure out better ways to communicate to this oft-negleted group of consumers. Talk to her about the things she cares about. Get your programmers to work on ways to better serve her and her unique needs. She's more than just a mom who sends kids to camp. She's a person with her own set of needs…and you can help her!
Recent Comments