When it comes to the dynamics of the marketplace women have changed the game. Forty‐ two percent of women agree, “I regularly influence friends and family to buy or not buy a particular product or service,” – up significantly from September 2008. In addition, 54% agree “I feel it is my responsibility to help friends and family make smart purchase decisions.” Women today are consumers, broadcasters, and amplifiers of ideas in the marketplace; expect these recommendation and word‐ of‐mouth dynamics to continue intensifying.
91% of women say that advertisers don’t understand them. Women are earning, spending, and influencing spending at a greater rate than ever before — and they account for $7 trillion in consumer and business spending in the United States, and over the next decade they will control two-thirds of consumer wealth. Women make or influence 85 percent of all purchasing decisions, and purchase over 50 percent of traditional male products, including automobiles, home improvement products and consumer electronics. (see the infographic)
According to USA Today “While more men program and develop the social media universe, women are setting the conversational tone, according to a new study. Instead of dotting “I”s with little hearts or smiley faces, on social media women are using highly expressive language, emoticons and other emotional cues”. In short women communicate to express feelings men communicate, well, to communicate. This is why women rule social media.
For women, who still do the majority of household purchasing in America, digital communications fulfill unique needs, which in turn offer marketers more engaging ways to connect buyers with their brands. With greater accessibility, rich content and a communal environment, digital media has become an indispensable component in women’s lives. To them it’s more about managing their lives and less about the latest technology.