When it finally became clear to the beer industry that sales to men were slumping, and that the biggest untapped market was women, they began to think about how to capture these increasing significant dollars.

Once they realized this important market segment was key to increased profitability, they stopped using scantily-clad women to advertise their products. However they still faced two major hurdles:

1. How to market their products successfully to women?            
2. How to improve the taste so women liked it?

Both the UK and US are struggling with this issue, but are hopeful they will find the key to unlock this valuable market segment. Coors has created an operation, which they have named Eve, that’s sole mission is the development of beer brands and marketing strategies that will appeal to women. A joint venture between UK-based SABMiller and Molson Coors (MillerCoors) produced a new beer MGD64, with just 64 calories per 12-ounces to appeal to weight-conscious women.  

Will these ploys work with women or does the beer industry need to finally hire consultants that specialize in marketing to women, and actually know what women want and will buy?

Many companies are realizing that there is a correlation between their success in marketing and selling to women and hiring and promoting women within their organization. Smart companies know to get the best talent, they must adjust their culture. Additionally, they are allocating more dollars to marketing and selling to women. This decision shouldn’t be based on political correctness, but on sound business basics-women control the money. They spend $.85 of every dollar. I always wondered why businesses believe their efforts should be directed to customers who spend only 15% of the money versus those spending 85%. 

In virtually all industries, women make more than 50 percent of the purchases, including automotive products, electronics, sports gear and equipment, healthcare, and Internet sales. They influence far more. If businesses aren’t marketing their products and services successfully to women, they’re losing out on billions of dollars annually.

Businesses such as brokers and banks that cater to the wealthy need to focus more resources on women. Financial services providers who stand to gain considerably by targeting wealthy women aren’t doing a great job. In the next decade or two, women will control 60 percent of the wealth in this country. Much of it they will have earned. The rest will be inherited from parents and husbands they outlive. When women are asked what is the one area of your life you would like to improve, women cite their financial situation nearly 40 percent of the time. It is even higher with low income women.

Hotels ranked the highest among women as an industry that was best accommodating their needs.

Home improvement chains and automotive manufacturers are getting their messages across effectively. Nearly twenty-five percent of wealthy women say that these industries do a superb job of marketing to women. Unfortunately, while the corporation might have finally gotten it, the retailers selling their products often don’t.

Electronics retailers still fall short of the market they could be selling to if they changed a few of their strategies, provided better training for their sales staff and took the time to understand their customers and how they buy. Wealthy women were particularly turned-off, but this industry does only a mediocre job as a whole when marketing and selling to women.

Beer companies still struggle with developing and selling their products to women in general. Liquor distillers have done a better job, but wineries have done the best at reaching all women, including wealthy women.

Marketing and selling to affluent women is lucrative, but tricky if you aren’t familiar with their lifestyle, demands, expectations and buying patterns.

If affluent women are your market, what are you doing to reach them?