5 ways your travel and leisure marketing can earn back the trust of women.

September 18, 2012

A study of women in 22 countries identified 5 ways brands are failing women, and 5 strategies to earn back their trust.

A landmark study found that women control 73% of household spending, but feel neglected by many brands.

Authors Michael and Kate Sayre, partners atBoston Consulting Group recently published a book: Women Want More: How to capture your share of the world’s largest, fastest growing market .

The landmark study upon which the book is based traced the attitudes and purchasing habits of 12,000 women in twenty-two countries.

The study found that women control 73% of household spending, and $4.3 trillion in consumer spending in the U.S. alone.

But it found that women the world over are dissatisfied with the products and services they buy. The reason?

Many companies don’t take the time to understand the issues modern women face, and create products that fail to meet their needs.

The authors found that women are having difficulty balancing all the roles they are called to play at home and in their job. They’re time-starved and stressed out.

And they  struggle to balance what the authors call “the job at the job and the job at home.”

The book reports that companies fail to meet the needs of women in five key ways:

  1. They are not addressing women’s need for time-saving solutions.
  2. They have poor product design and customization for women.
  3. Their sales and marketing efforts are clumsy and often insulting to women.
  4. They fail to align with women’s values or develop community.
  5. They don’t ‘give back’ to society as well or as much as they could.

The authors offer five ways that travel & leisure brands can earn the loyalty of women:

  1. Take the time to understand and tailor your product to their needs and values.
  2. Create products and services that save women time.
  3. Demonstrate your own values and commitment to the community.
  4. Empower your sales force to be more responsive.
  5. Offer 24/7 access to customer service, and product information that’s simple and easy to find

According to the study, women place a premium on the following values:

  • Love
  • Health
  • Honesty
  • Emotional Wellbeing.

Women want the brands they buy to understand those values, and offer them services that honor them.

According to Ms. Sayer, “Take care of those core values,and companies can really connect with women.”

How is your travel & leisure brand connecting with women? What changes have you made to reach better connect to women’s wants and needs? Talk to us.


Leisure marketing: Why a decrease in savings rates is good news for your leisure brand.

January 14, 2011

 

Savings will take a hit in 2011, which should help sales of leisure brands.

The latest AmEx poll reveals that Americans aren’t planning or saving as much this year.  Which could be good news for the economy.

 

The results of the latest American Express Spending & Saving Tracker should give leisure marketers cause for optimism in 2011.

If you’re a leisure marketing pro, get ready for stronger sales in 2011. How can I say that when some consumer confidence polls say just the opposite?

I base my observation on three factors:

  1. Consumer spending was up 5.5% over last year.
  2. Our retail and restaurant clients just had their best holiday season since 2007 or 2008.
  3. The latest American Express Spending & Savings poll confirms that consumer confidence, and spending, will defy prognosticators in 2011.

People are saving less and setting fewer financial goals this year:

  • Americans surveyed in the latest AMEX Spending & Saving tracker are planning to save only $2600 this year versus $14,000 last year.
  • Only 83% are setting financial goals, versus 89% last year.
  • This tells us that 6% of Americans have either dug themselves out of their debt, or are confident enough in the economy they’re not as scared of their debt as last year.

Americans will spend the majority of their incomes on making themselves look and feel better.

  1. Grooming (73%)
  2. Health/Fitness (70%)
  3. Clothing for themselves (61%)

It’s no surprise that Americans are spending so much on grooming and clothing.  But an increased interest in health and fitness spells an increase in confidence, which leads to increased spending.

Their top 4 New Year’s resolutions involve improving their savings, health and friendships:

  1. Saving money.
  2. Spending more time with family and friends.
  3. Exercising more.
  4. Losing weight.

Again, while saving is still high on people’s priorities, look at how little they plan to save compared to last year. And their next three resolutions all involve leisure time activities.

Almost 1 in 2 Americans plan to spend more on health and fitness in 2011:

  • Gym Memberships: average of $131 per month
  • Fitness equipment: average of $127 per month
  • Personal trainer: average of $127 per month
  • Eating Programs: average of $75 per month
  • Fitness-related video games: average of $60 per month

I don’t know about you, but when I’m depressed and afraid I don’t spend money on fitness equipment or eating less.  I do just the opposite.

Folks, we are in a different frame of mind than last January.  Just ask yourself if you spent more this past holiday season, and if you stuck to your budget like you did last year.

If you’re a leisure marketing specialist, how can you plan for a great year?

  • If you’re selling at retail, stock up on your health and fitness equipment.
  • If you’re a restaurant, promote your  healthier offerings.
  • If you’re in the outdoor category, sell the health benefits of your brands.

What are you doing to get ready for a stronger 2011? Tell us about it.


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