Formula For Millionaires Blog

Women Aren’t a Market Segment, They Are The Market

Yesterday I received my copy of Success Magazine featuring Suze Orman on the front cover.

Although I do not have the same message as Suze, I love it every time I see her on TV, probably because that’s where I want to be, and I know I can speak to the same audience bringing them hope for financial freedom. Suze helps people get out of debt. I help people get out of debt and then get rich.

But, that’s not the main point I want to make. In the magazine was an article by Tom Peters, nationally renowned speaker on marketing and leadership.  In 1997, my first year as a CEO, I went to hear Tom speak at a weeklong conference in Seattle. I was about 27 years old and thought it was funny when he said, “Today the 54 year old CEO is being replaces by a 27 year old CEOs”.  You’ll have to remember the time period in 1997 dot com companies were the fastest growing business and they were making millionaires and billionaires out of people in their 20’s.  But Peter’s was also referring to the fact that tenure with a company no longer gave you job security.  Only the value you give right now determines your value to the company.  That’s why 54 year olds were being replaced by 27 year olds.

Now, twelve years later I find his article in Success Magazine, but this time he says something even more significant. He says

“Women aren’t a market segment,

they are the market”.

Tom Peters

As an author looking to reach my audience, I’ve known that woman and men read about the same amount of books. Yet, nearly 75% of all books sold are purchased by women. This statistic seems to prove true in my own family. I probably read even more books than my wife. Yet, my wife buys 75% of the book for our family.

Tom Peters goes on to say this is not only true about specific and individual markets, but that it is true across the board in all markets. He makes the point by saying that when a family or couple wants to buy a new car, many times it is the influence of the woman who will most determine which car they purchase.

Furthermore, it is often the woman, who does the research on the new Volvo she wants, reads consumer reports, reads user reviews, and researches dealers in the local area.  By the time her and her male friend are standing in front of the Volvo salesman, it is the woman who knows more about that particular car than the salesman trying to sell them and, who by the way is talking directly to the woman’s male friend, who has the least influence on the sale.

The point being that the salesman is talking to the wrong person, because the purchase will be more influenced by the woman that the man, so he is missing his golden opportunity to appeal to the woman.

I absolutely loved the article because, even though I have not always chosen marketing strategies consistent with this belief, I’ve intuitively sensed women are not only the majority of my market, but the majority of all markets.  Just in the last couple days I am allowing this realization to guide my decisions.  I’m in the process of hiring a production company to create my TV commercial campaign which will begin airing across the country in May and June. So I’m talking to woman producers and want to be sure I have women on my creative team so I don’t become the stupid salesman focusing on the wrong audience.

For all you men reading this blog, don’t get me wrong. My message is for everyone. After all, who doesn’t want to be incredibly wealthy, buy all the cars, vacation homes, and toys you want; never needing to go to work again, and make money while you sleep and vacation. Who wouldn’t want to be a multi millionaire or billionaire? What I offer is clearly for everyone.  All I’m saying is that many times it is the women who find the information and bring it to the attention of men.

To say it again as I quote Tom Peters, Women aren’t a market segment, they are the market”.

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Paul McCormick

Best Selling Author: Secrets of the Millionaire Inside

www.TheAuthenticMillionaire.com

www.FormulaForMillionaires.com