Are you looking for ways to grow sales for your brand or business? Women drive 70-80% of all consumer purchasing decisions* so what they think and feel is critical to your brand success. Getting key insights from women becomes imperative and using those insights then to drive more sales means you are onto a winner. Here are 5 Ways To Use Insights From Women To Grow Sales:
*Source: Bloomberg and Forbes
1. Launching a New Product
If you’re planning to launch a new product or service, it is vital to build in feedback from women into your new product development and product launch processes. While many companies undertake market research as part of NPD, it’s often a one time survey or focus group.
Think longer term engagement, as by gathering insightful feedback at various touchpoints along the product development and launch process, you are building in what women want, not guessing. You will have the information you need to not only create your new product, but to market it to your target audience in a way that resonates with them.
You also have the potential to gain some early adopters who are willing to share their experiences with other women, so rather than a linear launch process, you can build a launch cycle that leverages those passionate female early adopters.
98% of women recommend brands they like to friends and family, according to one of our MyKidsTime surveys (December 2019). Think how effective it would be to have a ready network of women that are invested in your new product because you built them into the development process.
2. Tweak an Existing Product or Service
When was the last time you asked women about an existing product or service that you sell? If sales are sluggish then perhaps there are some tweaks that need to be made. Maybe consumer expectations have changed over time and what you have been offering isn’t what they want any more.
Using insights and feedback from women can help you ensure any tweaks you make are the right ones. And having tweaked the product you can then ask those women to engage again to give you full confidence that the changed offering is exactly what they want.
Now it’s time to refresh your marketing, based on actual feedback, so the message you go out to market with is all about new benefits not the same old. Attract new women to your existing products by revitalising them.
3. Increase Activation
How can you activate more prospective customers to buy your product or service? By asking women of course. Delving into what will make them notice and buy your product or service, means you really understand their expectations and what drives their activation.
What acts as an incentive? What puts women off? Where do sweet spots lie?
Use those drivers now to activate more buyers = more sales.
4. Tap Into Word of Mouth and Influence
Celebrity influencers have their place. But what you really need is women influencing other women. Actual customers influencing other prospective customers. Women telling other women is the key.
Exploring what makes women recommend something to another woman and understanding brand trust and expectations means you have the potential to build out referrals.
Tapping into women’s word of mouth means tapping into something extremely powerful, harness that power through insights from women.
5. Improve Customer Experience
We’re in an age where a full customer experience matters. Product features and benefits matter, but customers want a good experience, whether in-store or online.
How can you elevate your customer experience? What will women delight in? What can you offer to stand out from your competitors? Use insights from women to find those magic moments that you can deliver to get women talking about you and your brand. Positive word of mouth and personal reviews will deliver you new customers.
It’s all about developing a deeper understanding of buyer behaviour by talking to women. Then embed those insights into your product, sales and marketing processes to transform and you will see an increase sales.
If you can influence women to become your passionate brand advocates you will bring more leads, sell more and develop products they want to buy.
By getting insights from women into your products and services, you can be confident you are selling the right thing to them and this can only grow sales.
Build trust to deliver traction by taking the guesswork out of your marketing to women…ask them what they want instead.
Use our panels of engaged women and our dedicated private platform to gather those insights. Contact us now to find how we can help.