Today, we live in a “Sheconomy,” an economy driven, influenced, and essentially run by women. Women are the decision-makers –they plan, manage, coordinate, and control the finances in the majority of American households.
Here are some facts. In a typical family, women purchase:
- 93% of a family’s food and pharmaceuticals
- 92% of all vacations
- 91% of all new homes
- 85% of all consumer products
- 80% of all healthcare services
- 66% of all technology
- 65% of new vehicles
- 65% of the service work done at dealerships
- 89% bank accounts are managed by women
- 80% of all vehicle purchases are influenced by women
These facts show that women make financial decisions on everything from vehicles to homes to healthcare. Yet, many salespeople treat women like they can’t or don’t make buying decisions. Why do salespeople still ask women questions like, “Do you need to discuss this with your husband?” or “Why don’t you bring your dad back with you so we can finalize the sale?”
There are nearly 174 million women in the U.S. and Canada, while there are about 167 million men. This makes men the minority. As such, women represent the biggest sales opportunity. When will salespeople learn this?
Salespeople treat women differently, which makes car buying challenging. Do salespeople really believe that they can short change women? They are sorely mistaken if they do. The chances of making a sale drop to 0% when a woman is dissatisfied, angered, or disrespected, regardless if she is with a man or not, is high.
Isn’t it time that salespeople learn what women want so they can start to capitalize on this huge sales opportunity?
So, what do women want?
- They want information so they can make apples-to-apples comparisons and informed decisions.
- They want to be treated with courtesy and to have their time respected when they go to a business.
- They want to be heard. They’ve done their homework and are looking for specific information. They want to have the opportunity to see, touch and experience before buying, and they want the salesperson to be eager to talk about the features that address their specific needs.
- They want salespeople to take a sincere interest, and to work with honest salespeople with integrity.
- They want salespeople to tell them things them don’t already know, and to help them select product that meets their needs.
- They want to know what’s in their best interest in terms of and other considerations.
- Women want honest, direct answers.
- They want the process to be simple and straightforward.
Isn’t this what anyone would want?
Salespeople can capitalize on the enormous purchasing power held and controlled by women when they recognize that women should be given the same respect, information, and treatment as any other customer.
Author: Jennifer Libin
Jennifer Libin, Sales Director, APB, excels in training salespeople to work as teams and cultivate relationships. EMAIL: firstname.lastname@example.org.