Monday, June 2, 2014

Take a second look at Boomer women

Despite Goggle's recent admission that only about 30 percent of its labor force is female, women are still a vital part of the labor force. Women bring in half or more of the income in 55 percent of U.S. households. In corporations, women are 50 percent of managers and professionals, 58 percent of purchasing agents and managers, and 53 percent of wholesale and retail buyers. In the small business area, women have accounted for 70 percent of all privately held startups over the last 15 years. And, in most households, they are the "Chief Purchasing Officer."

PMP author, Marti Barletta, in her just re-released book, Marketing to PrimeTime Women, notes that women aged 50 to 70 have enormous economic clout, in part because many of them have kept working well into their 70s.

In a detailed profile of women in their fifties and sixties that includes not only demographic data, but also qualitative and quantitative survey data, Barletta reveals that households with people aged 45 to 64 have higher incomes than the national average as well as greater net worth.

Says Barletta, "Marketers who miss the opportunity this customer presents are trapped in outdated stereotypes." She writes, "It baffles me when I read that marketers are worried that their customer base is 'older,' that they are desperate to reach younger consumers, that they are willing to pay substantially more for media that reaches younger people, that programmers and content developers are scrambling to develop properties to deliver younger audiences. ..."

The numbers show that the real money is in the Prime-Time market. These women will have enormous economic clout for the foreseeable future, and they have the experience and wisdom to spend that money with confidence.

Wednesday, February 12, 2014

Why Corporate Branding Is Critical, and How To Do It

Most of what is presented about branding deals with high profile consumer brands like automobiles, mobile devices, and packaged goods.  If you have responsibility for a corporate brand,  you may have noticed  the void in information about B2B company brands and branding.  And discussions about consumer branding may be interesting, but they are not particularly relevant to you as a B2B marketer.

A new book from veteran B2B marketers and strategists, Chris Wirthwein and Joe Bannon,  gives leaders at all levels a new and more practical way to think about, build, and sustain a powerful B2B corporate brand, by tapping into the power of all the people in an organization, from the top to the shop floor.  Since the purchase of B2B products is usually a so-called "considered purchase,"--one that may take several months and require the buyer to review lots of information, it is imperative that all corporate employees use a consistent message about the brand.

Wirthwein and Bannon note that the corporate brand is important because in most cases it represents the highest order asset of an organization. It touches, involves, and influences more people, both inside and outside the company, than any other "property" the company owns. Many believe it creates more value for a corporation than any other asset.

In The People Powered Brand, Wirthwein and Bannon, provide a step-by-step blueprint that will allow you to transform a B2B brand and the culture that surrounds it.