Targeting the Moving Target
By Angie Ash, Senior Account Executive
If you’re a fine jeweler wishing to target women in the Generation X demographic of ages 30-44, a November 16, 2009 study shed some light on effectively communicating with this generation of American woman as well as millennials (ages 18 to 29) versus baby boomers. The study assessed spending habits, education, family life and careers of women in 1960 and in 2008, noting the many differences that have evolved within the 40 year time span since the evolution of feminism.
In 1960, the average woman married at age 20.3. In 2008, the average woman married at age 25.9. In 1960, 37.9% went on to college after high school versus 66.1% in 2006. In 1960, 37% of American women worked versus 59.5% in 2008. The study revealed that American women are highly educated in greater numbers than ever before; they are climbing the working professional ladder, yet they are still the chief operating officer of the home, many with children at home. According to this study, where a decade ago mothers wanted to be supermom and juggle all the responsibilities and pressures of work and home, today’s women and moms in this demographic want to be real women, and have interests that include and extend beyond their roles as caretakers, providers and nurturers. Therefore, marketing messages today need to communicate goods and services as not just practical, but also in ways to make real women and moms feel confident and in charge. This is a challenge because this demographic is used to multitasking and rarely has time to sit down and read without also doing something else.
This demographic is likely to augment what they see on television and what they read in books or magazines with internet research. They hop on the computer at night for a few minutes and investigate products and communicate with their peers on Facebook and Twitter. They are educated and tech-savvy.
Something to note is that 58% of women in this demographic stated that they have the most influence on their jewelry purchases, versus 13% of men and 29% marked as other or not applicable. It stands to reason that, as a fine jeweler, you will still be intent on reaching the woman who is both a CEO and a chauffeur. Therefore, you need to keep the following points in mind:
1. Avoid telling them what to think and who they are. They do not embrace a label or a stereotype. They want to be communicated with in totality—not just as somebody’s mom.
2. Make their experience with your store hassle-free. This group of women is time-deprived and focused, but they also want value and convenience as much as they want style.
3. Women are very likely to be loyal to companies that do good work. According to a 2008 study, 85% of Americans have a more positive image of a product or company when it supports a cause they care about and 79% said they would be likely to switch from one brand to an equivalent brand if it was associated with a good cause.
As this demographic ages, they will continue to evolve into that segment with more discretionary income to spend on fine jewelry. In the meantime, remember that the ways in which you communicate with them and the messages that you send to them, must evolve as well.
Want to know more about targeting GenX and millennials? Send an email to suits@fruchtman.com
By Fruchtman on February 2, 2010 :: Filed under Think
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