Posted by: Troy White
March 11, 2008
Issue #371

The $4 trillion dollar market
you cannot ignore

In this issue:

• How to immediately double your sales to women entrepreneurs …

• Increasing your odds of a sale by 700% …

• The #1 thing women buyers look for in your business that most men completely ignore …

• And Much More!

Fellow Business Builder,

In celebration of International Women’s Day this past weekend (March 8th), let’s talk about women.

More specifically … selling to women.

I love women! I am surrounded by them – between my wife and my twin daughters – I am seriously overrun. I love every minute of it, though.

Some of the best entrepreneurs I have ever worked with are women. And a significant percentage of my clients are women. Right from day one in my business, I knew that I was determined to become a better salesperson, and I specifically wanted to sell more to women than I had in my past career. (I sold million dollar computer systems – and they were mainly sold to men.)

Selling to women is an entirely different ballpark than men. Women think, act, and buy based on different criteria than men.

And they are also the biggest buyers out there. If you are not selling directly to women, the odds are high that a woman is influencing the final purchase decision the man is being asked to make.

You must sell to your customers in a way that they want to be sold to. Trying to force them to buy from you “your way” will not work, and you will very quickly develop a very bad reputation for your sales techniques.

How challenging is this?

Well, a little story will help clear this up …

A man is walking along the beach in California when God speaks to him from the heavens. God says, “You’ve been a good, hardworking man all your life, so I’m going to grant you one wish.” The man immediately replies back, “I have always dreamed of traveling to Hawaii or reaching a beautiful paradise like that – filled with all the lush rewards it has to offer. But,” he adds, “I really don’t like to fly. I would like you to build me a bridge so that I can drive from here to Hawaii. Would you build me that bridge?”

God replies back, “Even for myself, that’s a monumental task. All the architecture, design and building of a bridge that large … the concrete … the structure … the planning. It has to extend miles and miles across the Pacific … isn’t there something else, maybe a little easier, I could grant you?”

The man thinks about this for a minute, “Well, I’ve always wanted to have a much better understanding of women and how they think. Could you help me with that?

“OK,” God says, “how many lanes do you want on that bridge?”

As silly as this story is, us mere mortal men out there have a tough time understanding the females we live and work with.

Many men, no matter what level of success
in their businesses or career, will agree
that selling to women is not something
that comes natural to us.

Even successful sales professionals that are women will agree that it is completely different (and more difficult) selling to women than it is men.

Men like to just get to it. Decisions are made quickly … and are done in a fairly methodical way. We like to solve the problem, close the deal and move on. Women are not so cut and dry in their decision making process.

Take the shopping mall, for example …

Many men, like myself, love to have one thing in mind that we know we are buying (we already know the exact color, and approximate price). We will park right next to the store we are shopping at. We walk in, go straight to the row with the goods we want. We look for about three nanoseconds, make sure it is the exact make and model, and we take it to the till to buy (maybe try and negotiate the price along the way).

Don’t get me wrong, we love to buy things … just HOW we buy things is different than our female counterparts.

Women have a little different way of shopping.

First, they can make an entire day-long adventure out of shopping. They love to browse and wander from store to store looking for that “perfect” thing to buy. They may have their friends involved in the trip and the purchase decision. They demand more input, expect more attentive service people, want more selection, require more thorough follow-up, and expect a very pleasurable experience when making their decision.

When you can sell successfully to women,
you will over-deliver to men.

The #1 problem that women notice much more than men … the sales experience does NOT match the marketing experience. It is not about making nice, pretty, softer marketing materials focused at women … then waiting until they enter your sales system to hit them with your aggressive sales strategies.

Adding pink to your marketing is not the way to win …

Here’s how to double your sales to women business owners …

Impress them and they will buy twice as much from you. 86% of all women business owners surveyed by Working Woman say they will use the exact same products in their office as they do in their home.

So, if you give them the experience they want and deliver high quality products and services to back up your claims, they will not only stay loyal to you for years to come, they will also double the amount they buy from you.

Men typically buy based on an educated decision.

Women typically buy based on an educated consensus (not meaning they won’t make a decision by themselves, but that they need to feel much more comfortable with all the information they have on you and your products than men do). They are not big on the hard close, the one so common in traditional sales training.

Think about their feelings.

Women buyers make decisions much more based on the intuitive feelings they have about you and your business. This is tougher to do through long copy sales letters.

So, I highly recommend you use video and audio on your websites and sales campaigns.

You can include videos and audio CDs with sales packages that go out – and the multiple media approach will drastically help your odds of a sale.

Men buy based on a very logical progression through the sales presentation – women do not. This is not the time or place to say “buy it my way, or else …" They will gladly take the “or else” option.

Think about the relationships.

What I mean here is not only the business relationship you will be forming with her, but also the relationships in her life that this purchase will impact.

If you are selling products or services that impact her business – talk about the people in the business and how they will be positively impacted with the use of your product or service.

If you are selling products or services that are put in the home – talk about how it will impact and change her home life for the better, and how her spouse, kids, and friends will enjoy the benefits as well.

The LAST thing you want to be doing is spouting off “feeds and speeds” of your products – that is how MEN buy, not women. It is important – but not nearly as important in the buying cycle as it is for men.

Think about what they have to say,
not what you want to say.

This is a real challenge for sales letters and reports – UNLESS you have done your research and have already found out the common problems, complaints, needs and desires.

Your ability to listen is critical here.

Put together questionnaires and surveys. Have open Q&A teleseminars. Find ways to touch base with your potential buyers and listen to what they have to say – and uncover the real reasons they buy or don’t buy.

I remember a few years ago, Kari and I went to a car dealership to look at a new vehicle for Kari. This was her decision on the car – and we made sure we told the sales guy this fact.

He was too stupid to listen to this fact and kept talking to ME, completely ignoring HER. I told him again, “This is her decision, talk to her,” and he couldn’t wrap it around his thick skull.

So we walked out and took her business to someone who actually had a brain and could listen to what Kari wanted. He made money on the deal – sales guy #1 is probably still out there completely ignoring the person who has the real buying power, the woman of the house.

Think about the factors that impact their life
outside of this buying decision.

The context you choose to present your offer in is critical. My wife, Kari, helps run my business, runs her own business, makes sure our house is kept in order, and looks after our twin seven-year-old daughters. If it was up to me, it would all be in complete disarray!

Women are incredible multi-taskers, and you have to recognize this in your sales process. Talk to their life, and the challenges they face in their life, and then you are talking their language.

Find ways to help them come to an agreement

You don’t close a deal with a woman buyer. You can, and it does happen. But, if you do it improperly, they will soon regret what you did and will immediately get a refund, and/or tell every single person they know that your business is NOT women friendly.

NOTE: Women immediately recognize, by a 3:1 ratio, those companies who market specifically to women. And … this is key … by a 7:1 ratio they will go far out of their way to buy from businesses who DO market specifically to women (in the right way).*

You need to BE that one company who gets this, and caters to women the way they want to be catered to. This can immediately boost your sales by 700%!!

(* Working Woman research study)

Some of the ways you can help their decision making process:

1. Give them space. They are not impulse buyers as much as men. So don’t push the close as hard. Give them the proper follow-up they will want – again, not pushing as much as you are used to.
2. Share with them testimonials of other women buyers. NOTE: a sales letter for a product of mine instantly DOUBLED conversions to women as soon as I put a video testimonial right at the top of a women client who sang my praises. It took 2 minutes to do – and resulted in 200% more sales. Simple, but effective.
3. Make sure that everything you have presented to her IS in her best interest. We all get caught up in our sales pitch, and, at times, may promise things that are not all that important. This can cost you significantly in selling to women. Promise to deliver what they want – then make sure you DO deliver what was promised.
4. Use multiple media to stay in touch if they decide not to buy right away. Birthday cards. Handwritten thank you cards (a rarity these days). Special event invitations. Audio CDs. Video DVDs. Teleseminars. Customer appreciation events. Do everything in your power to give them lots of opportunity to meet your other clients and alleviate any concerns they may have.

When you get this right, you have a
fantastic viral marketing machine in place.

Women love to talk to their friends and family about pleasant buying experiences. Be the one that delivers it to them, and you will quickly see a landslide of new, highly qualified buyers at your door.

This article could turn into a book as this is so important for all of us to understand. I do not claim that this is everything you need to know about marketing to women, but should be considered a good starting point to a new sales process.

The opportunity for you is incredible here, but you must make sure you do it properly.

If a woman buyer visits your store or website and you are noticeably pretending to be women friendly, they will run as fast as they can. But, if they happen upon your business and you obviously know how to sell to women, they will buy again and again from you.

Do your homework and give them what they want.

Please let me know your thoughts, and if you have any further topics on this you would like to see discussed.

To your success,

Troy White
Editor, Small Business Mastery
Supplement to THE TOTAL PACKAGE

Looking for resources related to this article? Try some of these.

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Looking for past issues of The Total Package? Click here for our archives.

A Final Note:

If you have specific subjects you would like addressed, or have any comments on what you have seen here, please submit a comment below and I will see how I can help.

"Don’t wait. The time will never be just
right.”

–Napoleon Hill

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• Think Creatively and Grow Rich
• Why the old rules of authority no longer apply …
• The Fastest Growing Market on The Internet and How Best To Serve Them

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5 Comments »

1. Comment by Melissa — March 11, 2008 @ 2:00 pm

   In addition to the freelance work I do, I am a copywriter for a company called Design Basics - the originator of the highly successful business model and educational platform "Woman-Centric Matters".  (visit http://www.womancentricmatters.com to learn more)  Woman-Centric Matters is teaching businesses across the country how to become remarkable and mentoring those businesses as they transform their entire business strategy and make more sales, create happier customers and develop long-term relationships with ALL their customers by embracing the woman-centric approach. 

   The program is intense!  It’s not just a matter of recognizing the fact that women make or primarily influence 91% of all new home sales and 86% of ALL consumer purchase.  It’s more than that.  It’s learning about the personalities of women, what moves them online, in print and in person (and yes, there are very specific woman-centric ways to design websites to maximize her experience online), and how to anticipate her needs even before she realizes them herself.  

   It’s all very exciting!  And the most exciting part of it is that it WORKS!  So, Troy, you are absolutely right in your article - brief, but 100% spot-on.  Those companies that make the leap to a woman-centric approach will see their profits soar - not just with their female customers, but also with men.  Why?  Because it just makes so darned much sense!

   Thanks for the article, Troy!  I get excited every time I encounter one more person who "gets it"!

   Regards,
   Melissa
   rabblebabble (at) hotmail.com

2. Comment by Cheryl — March 11, 2008 @ 6:38 pm

   Hi Troy,
   I think your article is both on the mark and off the market. 

   Even though there are cultural differences in what "women" consider acceptable behavior and "men" consider acceptable behavior the secret to selling to either sex is always first and foremost listening for understanding.

   Once you understand the the prospect the next most important thing is to recognize the behavioral differences among all "people".  A dominant woman will be hard driven quick to take action and make logical decisions just like her male counterpart. 

   Again listening and observation will serve both you and the prospect well so you both have an enjoyable and profitable sales conversation.

   Cheryl
   http://increasesalescoach.com

3. Comment by Bob — March 11, 2008 @ 9:53 pm

   Great article as usual Troy,

   And I especially pay attention to what women want as about 90% of our business comes from women. I don’t speak the language as fluently as my wife does but I am learning.

   Women want to improve, are willing to do what it takes and to spend the money, knowing that it’s important to feel good and have balance in life.

   Cheryl’s comment is also good and I will add that it’s all about a persons values, male or female. You explained it even if you didn’t say it. Give a person what they value most and you will have a very satisfied customer.

   Bob
   http://www.lifepotential.ca

4. Comment by Alison Silveria — March 12, 2008 @ 12:48 am

   Troy,

   Great article and especially interesting as I did my best to extrapolate how this information would work for me in my position as a woman selling to men.  I am selling commercial insurance products to men in the trucking industry.  I think bringing the feminine aspect of practicality and focusing on service to the customer, rather then focusing on closing the sale is very important.  When I say focusing on the service, rather then the sale, I mean the sale will come if I do as Cheryl suggests and listen for understanding.  I also know men are problem solvers and if I ask questions that show the men I am working to exact their vision, to pinpoint their needs, and to let them know I’m willing to research their issues, I may gain some amount of respect.  Even if I don’t make a sale, I may win a referral.  This type of customer query can yield useful information for both of us and build a relationship.  I need to find a balance between my femininity and my ability to think like a man. As a woman, I assure you, thinking like a man has its own set of challenges too.  

   As always, you are a great read.
   Alison
   alison@harrisburginsurance.com

5. Comment by Troy White — March 12, 2008 @ 12:46 pm

   Hi Melisa,  Thanks for the confirmation.    This is definitely an area that I am very interested in developing further with my own business, as well as my clients.  The article was brief - but covered some of the areas many people have never thought of.  It’s truly too bad - the market is there for those who actually take the time to think it through more than a nano-second. 

   And Cheryl, you are so true - listening is the key.  BUT, when you are writing marketing materials whose purpose is to sell (which EVERY business should be using), then you must do your research and listening before the materials go out.  You can’t have a piece of paper listen for you, so the research is critical.  If you don’t do it first and foremost, you will miss the mark in your message.  And women are also the prominent buyers from direct mail as well - so those who get it and do it right - can sell via the printed word just as well as face to face.

   Bob, too true.  The women’s market is ripe for better service, better listening skills, and better all around marketing.  It’s truly sad more people don’t see this and tailor their marketing efforts in a more effective way.

   Alison,  selling to men is a skill in it’s own.  Men typically buy faster, with a more linear progression through the sales decision.  Women think more about things like: can I trust them, what do my contacts say about this, do I personally like the person who is selling this, do I respect them, how is their appearance positioned for what they are selling, what is their reputation, etc. And all these factors come in to play at once. Men go through some of the same decision making process but it is more in a logical flow from step 1 through step 9.  Men like more action, more decisiveness, and more direction from women that are trying to sell to them,
   The key to all of this is… make sure you know WHO you are selling to! Men or women - they need to be understood to be sold to.  Way too many websites I see out there, clients I talk to, startups I get request from, etc… they are severely lacking in preliminary work they should have been doing from day one!  They jump in - assume they know who they are selling to and what it is they want to buy - and completely miss out on a fabulous opportunity to make a lot more money, gain a lot more devoted customers, and become a much more prominent player in their industry.  All it takes is some effort - and the leverage you get from that effort is immense.  Defintiely worthy of further research and questioning.