Let’s face it, moms are the decision makers when it comes to almost anything that’s purchased for the home or family. This includes the men in the family, as women are likely to even influence if not control what they purchase. In fact, there’s a term for it now and it’s called “She-economy.”
A report by Greenfield on women’s insight, also shares some incredible facts on the purchasing power of women across industries. For starters, women are the deciding demographic in 91% of new home purchases. Other industries and percentages women as decision-makers include:
- 66% Computers
- 92% Vacations
- 80% Healthcare
- 65% New Cars
- 89% Bank Accounts
- 93% Food
- 93 % OTC Pharmaceuticals
- 58% of Total Online Spending
Their total investment comes out to $20 trillion world-wide. But really, there’s more to the story, and it’s this. Women are waiting longer to have children, so if we look at the demographic of moms who have the most clout, it’s older women or more mature moms in their thirties plus. The reason for this is that by that age, they have a lot more discretionary income. We’ve paid off student loans and we’re likely in stable careers with steady earnings.
So now you know moms have buying power in terms of autonomy and capital. The next question is, are you investing in them? There’s a good chance you’re missing the mark somehow.
A March 2015 survey of 5330 mothers, done by FanFinder, showed that:
- 35% of mothers feel ‘pigeonholed’ by brands
- 46% feel marketing places pressure and presents unrealistic ideals
- 28% feel marketing to mothers is sexist
- 32% feel most marketing to mothers is patronizing
- 87% feel brands should incorporate fathers more in marketing
Moms have one thing in common: they want to be understood. So when marketing to your mom demographic, you have to start by looking at what type of mom you’re dealing with:
- Working Moms
- Stay At Home Moms
- Millennial Moms
- Gen X Moms
If you’re looking at working moms, don’t discount that there’s a good chance she’s the primary bread winner and maybe even a single mom. Working moms are typically motivated by two things: guilt and efficiency. There’s always a level of guilt that they’re not there enough for their children, so they’re going to be motivated by decisions that help enrich their child’s life and with decisions that can be made simply. These moms are a lot like Gen X moms (born between 1965 and 1980), who will use technology to offer a balance. This means this group will respond most favorably to custom email marketing campaigns.
Stay at Home moms on the other hand will look for the bargain. With less income, they’re motivated by the bargain and they’re not pressed to be at places (the office) as moms are. This means that even they both types of moms have full plates, stay at home moms have more time to bargain hunt. Typically they bargain hunt across a brand’s social channels. Stay at home mom and millennial moms have that in common; they’re avid social media consumers.