Hard to believe, right? I know I was floored when I heard the news.
Ok, obviously I am just having some fun. It is Friday after all, but I figured sarcasm was the best way to go when I read the findings of a study done by Time Warner called "Understanding Women Today" which was done in partnership with Ipsos MediaCT.
This is actually a follow-up of a 2010 study which was created specifically to designed to gauge women's attitudes on branding, media consumption, attitudes and behavior.
3800 women were queried and the results focused on two very distinctly different demographics: Chief Family Officer (CFO) and Girlfriends on the Go (GOG).
- Chief Family Officers (CFOs) have a median age of 38, about 50% of them are married, 50% have children, and more than 50% work
- Girlfriends on the Go (GOG) have a median age 34, live in an urban area, with less than 50% having children.
- Heading into 2013 both groups share concern over the following areas: job market, fuel costs, healthcare, and education.
- CFO's tend to be more willing to accept the information about a given product they see on TV and online whereas GOGs are more integrated, using information they find across multiple mediums to make a purchase decision including online, social, and mobile platforms.
- Apparently CFOs are more analytical as they tend to factor in things such as cost, product value, and brand name and research online before making a purchase as opposed to their GOG counterparts who tend to spend more freely
- In terms of the big ticket items GOGs are the primary decision maker whereas CFOs will contribute to the overall decision to purchase or not. However each of these two groups make the call when it comes time to buy things such as groceries, cleaning products, clothing and holiday shopping.
The reason they focused on these two specific demographics lies in the fact that they collectively spent over $200 billion in 2011.
Amen to that, Heather.
Conversely, Joan Hogan Gillman, Executive Vice President of Time Warner Cable and President of Time Warner Cable Media may have reached into the hyperbole well when she referred to the findings as "an unprecedented opportunity for marketers looking to connect with these audiences on behalf of their brands.."
Not so sure about that choice of adjectives.
Are You Kidding Me?
Ms. Hogan Gillman also told ClickZ that " a majority of clients (advertisers) still create television and online advertisements that are not targeted specifically to women."
I would like to know just exactly how man advertisers make up a majority in her statement and just who those advertisers are because I cannot believe that in 2012 that is still the case.
Sure I realize that it may not be practical, reasonable or flat out required to create a campaign devoted entirely to women but, if your brand, product, service, ware, etc. is something appeals to men AND women alike why you would not speak to each demographic differently?
I have written numerous articles on the need for marketers and advertisers to segment, to reach out to what I refer to as "the most powerful brand ambassadors in the world."
In an article back in March appropriately titled Why Women Are the Most Powerful Brand Ambassadors In the World I made reference to the fact that "that women account for 85% of all consumer purchases including everything from autos to health care, it only stands to reason that the most powerful ambassador a brand can have... is a woman."
Then just this past September I wrote Why Brands Need To Rethink Their Online Advertising Strategy which highlighted research done by AYTM, a leading research company. Their survey revealed that 70% of women are not very likely or not likely at all to click on an online ad.
This speaks directly to the Time Warner finding which touched on the fact that CFOs and GoGs (and I would guess ALL women) rely on information they see online so said brand or advertiser better make sure they are establishing trust and as I wrote in September "get more personal in your online advertising and by that I mean use what you know about the person to customize the content in the ad itself."
'Use what you know.'
As in, use the fact that you know they are women!