Women decide on, influence or make most purchases. Hidden behind their logical mind are delicate, subtle and unstated desires that are factored into their choice. Their subconscious decision is not driven by statistics. Yet statistics and data have become the abscess that immobilises action in organisations that put products up for sale. If we look for statistics, Martha Barletta, author of Marketing to Women, says women in the US have sole or joint ownership of 87% homes, buy 61% of major home improvement products, 66% of home-computers, and 80% of all health-care services. They carry more credit cards than men, and start 70% of all new businesses. They control or influence 80% of all purchases, both consumer and business goods and services. A study by Mary Lou Quinlan corroborates that saying, “Most marketers have, historically, ignored or misinterpreted the key role of women in the purchase-making process.”
Post-1991 liberalisation, purchasing power has increased manifold in India. That women in every culture are attracted to shopping is a well-researched fact; they even buy the undergarments for their men. Unfortunately, in the largely masculine world of business, most industries do not identify or are sensitive to women’s subconscious choice. To grow business, it’s crucial to get a deeper understanding of women’s disposition.
Traditional, masculine-oriented organisations can profit from a woman’s spending habit, as also by deploying inherent feminine qualities into organisational culture to make it more humane. I have identified nine feminine attributes that can sway and control business. These are Nurturing, Lover of intangibles, Patience, Aesthetics, Unlimited immoderate pleasure, Subtlety, Exuberance, Networking, and Mystique.
Nurturing: By nature, women are caring. Motherhood is associated with affection and nurturing. Business needs to similarly nurture consumers to prevent them going to others. Shareholders need continuous care, employees and partners need nurturing to deliver high quality. Nurturing must be a top management obsession to run a harmonious organisation.
Lover of intangibles: Creating the intangible in a business proposition will help get good talent, retain employees for the long-term, clinch better value from external partners, earn premiumness, better share value and market capitalisation. The result is goodwill, which totally connects to a woman’s character as a lover of intangibles. Women love intangibles. Men often use flowers to open the door of their relationships with women. In any function that welcomes guests with flowers, a woman will carefully keep the flower, whereas a man will carelessly leave it behind somewhere.
Patience: Patience does not mean slowing business down. Patience enables an organisation to better understand and internalise the latent trend to capture tomorrow like a woman does. If women didn’t have patience, they could not have carried a baby to fruition for nine months. They even accept and enjoy the physical pain of childbirth as control over the genesis of new life.
Aesthetics: Women’s aesthetics starts from their physical harmonious anatomical structure. Through civilisation women have aesthetically ornamented themselves using colour on the lips, eyes, feet and hair to beautify themselves. An aesthetic working environment reduces monotony and routine, induces people to complement aesthetics in their behaviour and differentiates a product or service in its very first contact to customers. Aesthetics must address the entire value chain, from back office activities to the front, just the way women are ritualistic about personal grooming, spending on beautiful intimate wear, even though its never publicly seen.
Unlimited immoderate excitement: Men experience physical and momentary climax, but women are known to feel unlimited subliminal pleasure in a physical relationship. If an organisation can excite its distribution channel and consumers with delivery that relates to continuous pleasure, repurchase will happen automatically.
Subtlety: Subtlety is a very feminine characteristic; men are on-the-face. Mothers cool down seemingly unsolvable father-child relationships with love, understanding and great subtlety. In the clutter of today’s media, subtlety in business is important. Screaming advertisements may get quick jerky sales, but a brand that stops moving when advertisements stop, proves it has no subtle value. Creating passion for a common operational goal needs subtle handling as well as making sure a single consistent message flows across the organisation.
Subtlety is also paradoxical. A loud devouring character can carry a depth of highly elevated profound values. When you compare Bjorn Borg and John McEnroe, both are very good players, but its Bjorn’s subtlety that may have made him the universal icon of tennis.
Exuberance: Women by nature are exuberant, both in liberal and traditional societies. Nobody can challenge the implicit knowledge and stamina they have in creating personal differentiation. This energetic quality holds up in all cultures, religions, and social climates.
To increase a brand’s salience you need exuberance as its focus. Mont Blanc pens exuberantly exhibits the snowflake symbol so it’s visible on a man’s shirt pocket, but the pen itself has subtle characteristics. Subtlety and exuberance are two faces of the same coin where you need to find the right trade-off for business to fly.
Networking: Women of all economic strata are past masters at maintaining long-time relationships among family, friends, and even with friends of their children. They create and nurture networks in different subjects and keep them alive for no particular reason and with no ulterior motive. Networking happens in the school old boys’ club, health club, or in industry, social or religious organisations as its useful for successfully carrying out different activities for your business.
Why is networking a corporate concern? Because a vendor could be your consumer, an employee your shareholder. Emulate a women’s dexterity in networking to keep all stakeholders in the loop and you in their top-of-mind.
Mystique: An air of mystery is the shell that envelops a woman. Her each accessory is selected carefully to connect to an individual occasion. Her subtle, inscrutable subliminal need is her mystique. Why do women create such allure? In any country a woman protects her inherent mystique as it gives her the power to control her destiny. When organisational deliverables connect with the power of the mystique, intangible goodwill is created. Nurturing the mystique value reflects as premiumness that enhances shareholder value and profitability. If a brand loses its mystique value, it becomes generic.
The hidden value of these nine women characteristics are the unarticulated answers to business success. They are connected to the consumer’s psychological aspect, organizational culture or partner handling aspect. Co-opting them can help marketers and organizations to approach consumers with subtlety and sensitivity, resulting in enhanced business.
Shombit Sengupta is an international Creative Business Strategy consultant to top managements. Reach him at http://www.shiningconsulting.com