The power of the purse.

• Author: Bernstal, Janet Bigham
• Position: Marketing to Women

If you're looking for a market with big opportunity and low competition that's riding an uptrend, then cherchez la femme. Seek out the woman, says Martha Barletta and you're on the fast track to sales growth, market-share dominance and profit improvement.

"Women should be the primary' target, but most banks don't know that," says Bedetta, author of "Marketing to Women; How to Understand, Reach and Increase Your Share of the Wodd's Largest Market Segment," Some of the reasons women are vitally important to a financial institution's marketing plan are because they are the:

* Keepers of the household checkbook.

* Holders of the primary credit card.

* Fastest-growing segment of home buyers.

* Purchasers of two out of three new cars.

* Controllers of the finances in 53 percent of U.S. households

* Majority (51 percent of the U.S. population.

* Achievers of 57 percent of the college degrees.

* Decision makers concerning 80 percent of household purchases.

"The simple fact is that women are now deeply integrated into the workplace, are more educated on average than men and often earn as much or more than men. The result is the power of the purse that comes from earning," states Barletta in her book.

So don't try to label them as a niche market. Women are not a small specialty category. Review their population numbers and awesome consumer power and then, Barlette says, "Get this initiative out of the Specialty Markets group and rename it something like 'Monster Opportunities group' or 'Future of the Company group.'"

Bottom line--if you want to create marketing messages that resonate with the largest share of the consumer population, you've got to start paying attention to what women want. Most bank advertising assumes that women have the same drives and aspirations as men. They don't. Use the same marketing strategies for both and you chance missing the greater mark.

Barletta's GenderTrends[TM] Marketing Model explains in detail, and with a good deal of humor, why men's marketing doesn't work with women. Ultimately it comes down to what she calls gender culture differences. Understand those, and you're well on the way to capturing the attention and winning the business of women consumers.

What works with women

Most banks get customers through new checking account openings, often marketed via direct mail, free gifts or free checking. All three could use serious upgrading in theft approach to women.

"One key area of improvement is on the outbound marketing done by financial institutions," says Barletta. "All that direct marl looks remarkably alike, and it's a waste of time because people have to be really engaged to play that game."

What works, Barletta says, are the right list, the right creative and the right offer.

List--First, you have to mail to the right person. That would be the woman of the household, considering she handles the checkbook.

Creative--Then improve the look of direct mail pieces, Women are more interested in people than statistics and features. Putting people on the outside of the mailer means it will more likely be opened and read.

Simplify the communication of the...