Marketing to women: Decoding the myths – I

Published on: August 29, 2022

My friend Reema and I went out on a road trip last month to celebrate her 35th birthday. She’s a total tomboy, taller than most of your boyfriends, and drives a beast of an SUV. Reema is a complete stickler for caution and while we had pulled over at the first petrol station to fuel up, she wanted to buy a map to get us safely to our resort – yes, we believe in maps over apps!

She went into a shop nearby and asked the guy behind the counter to hand her a local roadmap. He sneered at her and replied, “Madam, why don’t you send your husband over? Since when do ladies read maps!” He stretched out his neck, only to find me, another grime-coated city girl, perched on the passenger seat! The look on his face gave away his singular thought – DISBELIEF! Two women, driving around in an SUV, reading a map to reach their destination! Reema nonetheless took the map from his reluctant hands and away we went.

But this incident got me thinking. When society can be so caught up in a cobweb of misconceptions, can marketers be far behind? How do brands piece together the puzzle of the female world? Naturally, marketing to women is laced with fundamental flaws. 

In this two-part series, we are debunking some common myths when it comes to marketing to women. 

Myth #1: Let’s market to women as an ode to diversity, but our limited resources must be focused on the business.

Decoded: Every opportunity of marketing to women means a growing pie of sales/profit and then some!

We all know that the purchasing power of women is increasing, but some numbers are game changers: It is estimated that women drive about 85% of the purchase decisions of the average household. Consumer loans taken by women were up by over 31% and two-wheelers saw an upshift of over 14%. Today India has about 15.7 million women-owned enterprises, which can generate potentially transformational employment in India, of 150–170 million jobs, which is more than 25% of the new jobs required for the entire working age population, from now until 2030. Even at the top of the pyramid, the number of women directors has also jumped to 16% in 2022, from a mere 4.5%.

Make no mistake, it’s where the money is and will be too. In a competitive market, thriving is about making more than your competitors – customers, sales, and profit.

Myth #2: All sales is a race, and our marketing bets are on our core customers – men! 

Decoded: Blinkers are for horses, not brands.

When you are constantly looking at the past to design your marketing plans, you would miss out on the present and tumble over. Women are the proverbial dark horse when it comes to influencing consumer spending decisions. Too often, brands get tunnel vision when creating marketing strategies. Traditionally male-dominated sectors like the automobile industry, computer makers, and housing and infrastructure have not pursued any other market with equal planning and commitment. Don’t let stereotypes hold you back from tailoring a plan that suits today’s market dynamics.

Myth #3: Marketing to women would mean either doubling our budget or divide it by half.

Decoded: Marketing to women means the same budget and the returns promise a pound for every penny invested!

Don’t fall off the chair yet. Women want the same things as men – and more. Chances are that if you meet the high expectations of women, you are more than meeting the demands of men. And unlike the male market, the female buyer base is yet to be flooded with product and communication – a red carpet rolled out for your brand to reach out to them without the clamor of competitors. And we haven’t yet spoken about the multiplier effect women have; a superpower that could make your sales skyrocket through a combination of word-of-mouth and referrals that far exceed that of men.

Powered by Froala Editor