Marketing to Women of Intelligence, Influence and Affluence
The Luxury Marketing Council
New York Chapter Event
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Fleishman-Hillard Diversity Series Breakfast - Fourth of the Series
Topic: Marketing to Women of Intelligence, Influence and Affluence
Date: Wednesday, May 3rd, 2006
Generously hosted by Claire Behar, Senior Partner and Director, New Business Development, Fleishman-Hillard New York.
Over the next decade, women will control two thirds of consumer wealth in the United States and be the beneficiaries of the largest transference of wealth in our country's history. Estimates range from $12 to $40 trillion. Many Boomer women will experience a double inheritance windfall, from both parents and husband. The Boomer woman is a consumer that luxury brands want to resonate with.
At 78 million strong, Boomers are far greater in number than the 45 million Gen Xers or the 60 million Gen Yers. They spend an additional $10,000 a year more on consumer goods than their cohorts. And it's the Boomer woman who influences up to 80 percent of all household buying decisions.
Majority- and privately-owned women's firms number 6.7 million and account for 30 percent of all businesses in the country. This growth in firms is twice the rate of all U.S. companies. Almost seven in 10 women over 35 (68 percent) enjoy trying new things. Boomer women are the greatest marketing opportunity today. Investing in better understanding and marketing more intelligently and creatively to these women will provide luxury marketers with superior competitive advantage in the marketplace of the future.
Two national and international experts and authors - Mary Brown and Janie Curtis - will shed light on how luxury brands can better reach, 'surprise and delight' and capture greater share of wallet of this highly affluent, highly intelligent, highly discriminating and diverse community of women influencers and buyers.
Speakers:
Mary Brown,
President & Creative Director,
Imago Creative
Janie Curtis,
Author, Founder "Frank About Women"
Time: 8 to 9:45 a.m. (breakfast served at 8 a.m.)
Location: Fleishman-Hillard, 220 East 42nd Street
(between 2nd and 3rd Avenues), 11th Floor
Main Conference Room
Attendance is limited to 120 people on a "first confirmed" basis.
About Mary Brown
Over her 20-year career as an art director, creative director and brand champion, Mary has distinguished herself as a leading voice on the subject of marketing to women of the Baby Boom generation. Her book on the subject, BOOM: Marketing to the Ultimate Power Consumer—The Baby Boomer Woman will be published by Amacom Books in Fall of 2006.
Imago Creative (http://www.imagocreative.com), the firm Mary founded over a decade ago has evolved into the only strategic marketing firm in the U.S. specializing exclusively in helping companies reach this lucrative demographic. Imago is additionally unique in its ability not only to provide strategic counsel, but also to implement at any stage or level of the marketing and branding communications process.
Mary has partnered with clients in a wide range of industries, from fashion and food, to furniture and finances, creating cohesive brands with market presence and results-driven strategies. During her extensive agency work, Mary produced award-winning creative for clients including Timex, Van Heusen, Esprit, Cole-Haan, Reebok and Rockport. Her client list includes Celebrity Cruise, Clearblue Easy, Glamorise Foundations, Eastland Shoe, Diversified Business, Forum Financial Group and University of Maine.
Mary is frequently sought as an industry expert, interviewed by the trade media, on National Public Radio (NPR), speaking and hosting panels at industry conferences. Imago Creative’s website is the only Internet clearing house dedicated specifically to strategic marketing issues, research and statistics on female Baby Boomers. She is also a regular contributor to MarketingProfs.com.
Mary studied humanities at Reed College in Portland, OR, followed by a BFA in Photography from the San Francisco Art Institute.
Presentation
BOOM: The Baby Boomer Woman’s Impact on the Luxury Industry
Imago Creative’s Mary Brown, will speak to how over the next decade there will be the largest transference of wealth in our country's history. The frugal, hard-working parents of Boomers have managed to acquire some considerable wealth, which they will be leaving to their Baby Boomer children. In addition, many Boomer women will experience a double inheritance windfall, coming from both her parents and husband.
Add on the fact that it is women who make over 80 percent of all consumer goods & services purchases- and of whom, with more established careers than younger generations, it is the Boomer woman who is often at the peak of her earning potential. Simply by looking at the whole picture, and the numbers, it becomes quite clear: She's a target consumer that luxury brands can’t afford to miss connecting with. This lucrative demographic has the time and money to satisfy their desire for a wide array of luxury products, services and experiences--and to do so, in style.
We know that Baby Boomers, by their very nature, are a massive demographic. Whereas, luxury has often been defined by exclusivity, not mass audience. Herein often rests the challenge of successfully resonating with this generation, and doing so in a manner that holds with it some distinctiveness. Mary will shed light on how luxury brands can deal with the mass factor built into the Boomer generational make-up.
Key take away points:
o How to develop a roadmap to increase your market share of today’s most lucrative consumer: Baby Boomer women
o Ways to minimize the risks and maximize the potential of marketing to this challenging but promising demographic
o Learn what industry leaders are having success marketing to Baby Boomer women
o Get key intelligence to help make smart, competitive choices about connecting with women 40+, and their purses
About Janie Curtis
Born in England, Curtis' marketing experience spans from continent to continent, including positions at Euro RSCG Tatham in Chicago; DMB&B in Detroit, Toronto and Rome, Italy; and JWT in Toronto. At DMB&B, she took a significant role in the relaunch of the Cadillac brand at General Motors. Subsequently, at Euro RSCG, in Chicago, she headed up the strategic efforts for Alberto Culver and Walgreens Pharmacies. When she finally formed her own company, Idea Box, she developed a branding approach that focused on brand archetypes. There she helped Quaker launch a new range of energy drinks aimed at women. At Frank About Women, she oversees new business development, account management and strategic planning.
Frank About Women
Frank About Women is the country's leading marketing to women communications company. Based in Winston-Salem, N.C., the firm leads integrated marketing, advertising and public relations campaigns for Fortune 1000 companies. FAW's clients have included Circuit City, Gold Toe, Carlson Hotels, TJ Maxx, Wachovia and Lennox Industries, for whom they have provided insights, initiatives and ideas on engaging and sustaining emotional relevance between women consumers and their brands. Some of their work has focused on key elements of the marketing mix such as in-store experience, new product development, travel services and traditional advertising. The organization is comprised of marketing strategists and executives, a national alliance of female industry thought-leaders, and an online panel of more than 1,000 female consumers. FAW is part of the Interpublic Group of Companies, one of the world's largest marketing communications firms. View at www.frankaboutwomen.com.
Presentations
The Naked Truth: Four Dimensions of a Real Woman
Reality Marketing is a strategy that has recently evolved within the marketing arena today - with brands such as Dove and Nike taking the first steps in this direction. There are many more steps to take, as more clients embrace this new marketing approach. However, it is not enough to presume that we as marketers know what real women think, or that we can simply put a size 12 model in our ads and win at reality marketing.
This presentation will focus on a national study, The Naked Truth, conducted by Frank About Women, in August 2005, which unearths many dimensions that make up today's "real" woman. Based on women 18 to 65+, the online study reveals that 78.9% of women aren't finding much that's "real" about them in the media. This presentation looks at the four dimensions of a real woman; her body, her mind, her heart and her soul, and provides marketers with strategies and ideas for connecting with all four of these dimensions.
This presentation covers
o Learn about four key dimensions of a real woman.
o Know what marketers need to do to help bring up their failing grades when marketing to the real woman.
o Learn how to incorporate this new research into an integrated marketing communication plan.
Understanding Today's Chief Purchasing Officers: Women
The retail landscape is changing. Frank About Women's "Retail Rituals" study provides powerful insights into how women's attitudes toward shopping are changing and why. For instance, women consumers, who increasingly act as the Chief Purchasing Officers for their households, are altering their criteria for calculating a good value. And they are demanding more than just high-quality products at low prices. Women demand, and are willing to pay a premium for products that perform on several levels simultaneously - from time savings to multi-functionality to making them feel how they want to feel.
Moreover, the study highlights that as women's lives become more stressful and demanding, they are increasingly turning to shopping to provide an emotional outlet and a short term sense of escape from their day to day realities. FAW calls women who indulge in this form of retail therapy, 'Feel Good Shoppers', a shopping mindset segment that is on the rise. In total, FAW's study identifies five different shopping mindsets and demonstrates which mindset is most relevant to which market category.
This presentation covers:
o An understanding of the importance of women consumers
o Ideas about how to make a specific brand relevant to women
o Clues about how women like to hear marketing messages
o Survey results that show how women shop
o Identification of five different shopping mindsets and which are most relevant to specific market categories.
o Ways to build brand and retailer loyalty among women
Aging Redefined: Thought 40 Was the New 30? Grow Up.
The success of popular shows like Desperate Housewives has prompted countless social observers to quip that 40 is the new 30. Yet new national studies reveal that women over 49 aren't particularly concerned about "passing" for their younger sisters. Conventional wisdom about what aging really means for a woman has proven incomplete at best. Moreover, marketers have often overlooked these influential consumers and, in many cases, made assumptions about aging women that are incorrect and ineffective. The old ways of thinking about women as they age are wrong, but what is right?
Frank About Women designed a study to help marketers understand women's attitudes, opinions, and behaviors as they age, and how they make buying decisions related to product categories and brands. What is revealed is that women live by an evolving set of truths and continue to write their own rules as they age. Failure to understand and adapt marketing strategies will likely result in missed opportunities.
This presentation covers:
o An older women's new perspective on aging.
o The importance of the 40 plus segment to many different market categories
o What women 40 plus are looking for from brands and retail experiences.
o Tapping into the lifestyle of the older woman.
o How to build a productive relationship with this market segment.
o Marketing to the older woman.