One of the first things that we learn in public relations and marketing is that it's all about your audience. Tailoring witty messages, pulling off elegant events and producing slick advertisements will only get you so far if they don't reach the ones they are intended for. Before you can reach any audience, you must first identify it...including understanding its make-up, segments and demographics.
A recent study found that most marketing executives hold several misconceptions about the market segment of single women. Since women control over $5 trillion in consumer spending each year, being wrong about this segment is a dangerous thing for marketers.
A few facts about the market segment made up of single women:
- 29.7% are between the ages of 18-24
- 22.9% are between the ages of 45-54
- 67.2% are white while only 13.1% are Asian/Hispanic/other
- 30% are high school graduates
- 53% have attended college/graduate school
One major slip-up by marketing professionals concerns their ideas about the annual income of single women. Marketers say that more than 15% of single women have an annual income of more than $75,000, but actually it's less than 4% of single women. This could have quite a few implications for organizations' marketing high-end luxury goods to single women. For example, a single woman with an income of $75,000 would be a different type of consumer than a single woman with an income of $30,000. Identifying every potential audience down the nitty gritty is crucial to an organization's marketing success and a mistake like this could have seriously negative implications for a company.
FletcherPR knows women and we truly understand how to reach women through the power of media. It's our business to create strategic public relations and marketing campaigns that communicate our clients' messages through the best possible channels. While the marketers in this study might have been wrong about women, rest assured that when it comes to marketing to women, FletcherPR is in the know.