As you know, it’s tougher than ever out there to win new business, and business that is loyal. The good news is that there is one segment of the market that doesn’t receive a lot of specific marketing attention in our industry-
The Female Market!
This week I wanted to share with you the top 5 reasons you should consider targeting new female customers to your auto repair business. As you will see below, female have never been more savvy when it comes to buying and maintaining their vehicles. Not only that, females make more than half of the spending decisions for modern families, making them a prime ideal client for your business.
Here are my top 5 reasons why you should be targeting the “PINK DOLLAR”.
1.There are now more female drivers on the road than males. Yes, this is an actual statistic from a study in 2013.There are more female drivers than male drivers, and interestingly, millennial age women buy over 50% of all cars. Now millennials may not wish to spend much money on their vehicles now, but they are your mum and dad customers of the future (and they have mum and dads right now who could also become your customers. And, according to various consumer surveys done over the past decade, women have gained more purchasing power in some very surprising industries, including the auto industry. Today, women influence more than 85% of consumer purchasing decisions, which represent 65-74% of the automotive service business, buy 60% of passenger tyres sold, and complete eight out of 10 customer satisfaction index (CSI) surveys.
2.Females are better at word-of-mouth referring Eighty-one (81%) percent of auto repair business owners use positive customer referrals and word-of-mouth as the preferred means of promoting their business. Testimonials from customers who are raving fans of your business are among the best methods for gaining new customers. And a major segment of that word-of-mouth promotion is made up of your female customers as women are generally picky buyers. They are the ones who more frequently write customer testimonials and reviews, and are becoming a powerful source of positive — or not so positive — recommendations for automotive repair businesses in their local areas. These online third-party reviews also are a key ingredient in local search ranking results on Google, Yahoo and other search engines. Developing and maintaining best practices for marketing to women can pay dividends in building loyalty, positive word-of-mouth referrals and testimonials. And the added bonus of making your business more appealing to women is that you’ll also attract and retain male customers in the process.
3.Relationships do matter in the auto repair industry, and women are more likely to foster long-term relationship and repeat business. Safety, reliability, and good customer service and honesty should be the focus when repairing cars. Besides trust, which is important to both male and female consumers, women want a “relationship.” Increased familiarity, sincere care and concern goes a long way in building long term relationships with your female customers. Since, happy, long-time female customers are more inclined to refer business to your shop than male customers; they are the best customers to have.
4.Women are more analytical when it comes to vehicle repairs, and attempt to clearly articulate their issues. Women in charge of spending decisions for their vehicle make swift, safety based decisions, and are more likely to ask concise questions to gain an understanding of the work required, and the cost. Essentially, these types of customers can be time saving, as they only require the facts to make a decision.
5.Women will help boost your online marketing efforts. Fact- Women are more social media savvy than men. It’s true: Facebook, the largest social networking tool in the world, is dominated by women. Providing women with educational content to empower them through Facebook, Twitter,Pinterest, and Instagram, will drive more business to your door.
My question for you is, what advertising medium can you use today to better reach the female market, and what content will you create to attract them??…..GO PINK!
Have a great week!