Women have purchasing power. They buy about 65 percent of all new cars and at least one-half of all used cars, according to data from Road & Travel Magazine. Women also influence 80 to 90 percent of all big-ticket purchases, says Kathryn Hutson, client services consultant with Maddox Smye in Naples, Fla. "Yet there's some research we've seen that says 75 percent of women take a man with them when they buy a car, just because they want to level the playing field," says Hutson.
San Francisco ChronicleHutson knows all about women's automotive purchasing habits. Her company specializes in helping marketers sell their products to women. Hutson works with client AskPatty.com, Inc., an advice site that steers women to dealerships and repair shops that have completed Maddox Smye customized training on how to relate to and sell more effectively to women customers. The company has identified more than 60 buying behaviors unique to women that apply whether they're buying nightgowns or automobiles.
It's hard to say why women lose some of their confidence when it comes to car purchases. Hutson says one reason may be the traditional methods used by those who sell automobiles. "For years, auto salespeople have been taught that if a customer walks out, the salesperson has lost the sale," says Hutson. But what she helps salespeople understand is that if they pressure a woman, she's automatically more likely to walk out the door than is a male shopper. "When a man shops for a car, he's probably looking at numbers, so when the salesperson comes up with a number, the man will buy. But a woman shops based on relationships," says Hutson. The female customer wants to build trust with the person on the other side of the transaction.
Hutson says men prioritize, while women multitask. A man may make heading to a dealership the centerpiece of his day, while a woman's visit may just be part of a laundry list of errands she will accomplish that day. So women want to build a relationship, but they don't want to waste their time. What's more, Hutson says female consumers tend to do their homework before heading to a dealership. And she says more women than men research cars on dealers' Web sites before visiting their lots.
Women also network with friends, family and work colleagues, asking for referrals to auto dealers and other businesses that are "female friendly."
Hutson says the sales professionals she trains want to do a better job of selling to women; often it's just a matter of realizing that they need to shift strategies. For instance, some women complain that a male salesperson will talk to her husband or other male companion when it's clear she's purchasing the car. Hutson recommends that women be assertive. Let the salesperson know "I'm buying the car; I brought my boyfriend along with me, but you might want to talk to me about that."
And women shouldn't be afraid to negotiate terms when financing a car, either.
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Hutson says that auto dealerships and their salespeople realize how competitive the market is for women's business. She gave the example of a salesperson she worked with who said he first works to undo any misconceptions a woman may have about car salespeople, then builds the relationship from there.
Wednesday, December 19, 2007
Women buy more cars!
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