He was pretty smart to target women as prospects for his business. After all, experts say that in the average household women control over two thirds, 75 percent, of the finances and are responsible for 80 percent of purchasing decisions. That means women wake up in the morning ready to spend money. Will they spend it with your business?
And what about women-owned businesses? Well, that’s a huge market too. According the the Center for Women’s Business Research, 10.6 million firms are at least 50% owned by a woman or women and the average growth rate of women-owned firms is nearly twice that of all firms. On top of that, women-owned firms employ 19.1 million people and generate $2.5 trillion in sales.
So if you’re targeting women as prospective buyers, you better make sure you know how to sell to them. And don’t make marketing blunders like my client did. Make sure your visual materials scream “women are my market” too. His didn’t. On the front of his business card was a photo of “rock hard men’s abs.” Ack.
About the author:
Denise O’Berry helps small business owners take action to grow their business. Find out more at http://www.smallbusinessmatters.com