The Power of the Purse in Real Estate

Real Living has been marketing to women for 7 years now! In fact, Real Living was the first women-focused brand in real estate. Why market to women?

• Women make or influence 91% of all home buying decisions.
• Women guide 94% of all home-furnishing purchases.
• Two-thirds of real estate agents are women.
• 78% of engaged women say that while they already have furniture, they’ll replace most or all of it when they marry.

This being said, I presented at the national Marketing to Women (M2W) conference in May about the tremendous purchasing power women hold in this country, but more specifically in real estate. It was a great learning experience! The M2W conference attracts brands from across the country that understand the influence women have as consumers.

M2W asked Real Living to put together a video highlighting more great statistics on the purchasing power of women. It’s now featured on the M2W site. Click here to view the video!

Have you seen one of the best blogs for marketing to women?

I’m excited to share with you that I have recently become a contributing columnist to eBrandMarketing—the No. 1 blog on marketing to women—published by Glam Media, which reaches 77 million unique visitors. You’ll hear from the foremost authorities on women, like Fara Warner, author of Power of the Purse.

My column, called (you guessed it!) Real You, spotlights what women are looking for in a brand experience. I share my thoughts about how companies can do a better job connecting with us through emotional branding, authenticity and understanding women’s purchasing power.

Check out one of the most read blogs on eBrandMarketing: Real You: “Ladies” you can ride, look pretty, but you cannot drive, and come back every Friday for a new Real You column!

Things to consider before starting a business

Before bringing a great business idea to life, you must prepare yourself for what’s ahead. There are many things you can do, but begin by connecting with people. First, find a mentor, a person who can teach you the ropes and share personal experiences at the same time. Learn from this individual. Why is she successful? What could this person have done differently?

Of course, you may have to step out of your comfort zone. For instance, the next time you’re riding the elevator with a co-worker you don’t know, introduce yourself. It’s critical to develop relationships, so start immediately!

Do you have a fantastic mentor that you want to tell us about? Go ahead, we’d love to hear about the real people in your life! For more on mentors and networking check out my book, Real You Incorporated: 8 Essentials for Women Entrepreneurs.

Love who you are, and what you do. Do it all as a proudly passionate real female entrepreneur.

Make a list of the characteristics people most admire about you. You’ll need to solicit the help of your family and friends for this one. The process will help define who you are—and what you do. Remember, these are the characteristics that make you real. Let them shine in a real way.

Linda Alvarado is an American entrepreneur who started her own construction company in 1976 with a $2,500 loan from her parents. Alvarado Construction, based in Denver, has become one of the fastest growing commercial general contracting firms in the country. In fact, it was one of three firms that built the new stadium for the Denver Broncos, and it was also part of the construction of the Denver International Airport and the Colorado Convention Center. Still, people really noticed Alvarado in 1991. That’s the year she became the first Hispanic to own a major baseball franchise--the Colorado Rockies. In addition to being the recipient of numerous awards, she also served on President Clinton’s Advisory Commission of Educational Excellence for Hispanic Americans. Clearly, Alvarado loves what she does—and she does it as a proudly passionate female entrepreneur.

How about you? Do you love who you are—and what you do? Leave a comment!

For more inspiration, check out my recent article about expressing your unique personal brand as a marketable business brand on WomenEntrepreneur.com.

Do what you love.

Find out what makes you wake up in the morning and smile. Start by listing the activities that you are most passionate about during a typical day at work or home. These are probably the daily tasks that you look forward to—the items on your to-do list that get checked off first. Once you’ve uncovered your passions, it’s easier to make them come to life in your real brand.

I think that Kim Ades, president of Opening Doors and Frame of Mind Coaching , chose this as one of her favorite tips for women entrepreneurs because it has made such a difference in her life. As a business owner, she specializes in thought management, and her goal is to help people attain the opportunities they are seeking in life. She “opens doors” to people, to thoughts, to greatness—and to self-actualization. And she “opens the doors” that stand in the way of great fulfillment—of doing what a person truly loves.

How about you? Are you passionate about what you do in life? Is there a spring in your step? A sparkle in your eye? Start opening the doors to your passion by reading Real You Incorporated.

And don’t forget to share your success stories with the RYI Community!

In today’s 24/7 world, women make over 80% of all consumer purchases across every product category

In fact, there’s a whole conference designed to inform marketers on various topics concerning the female consumer. The fourth annual The Marketing to Women Conference will be held May 8-9 at the Chicago Cultural Center, and I’m so excited to be attending this year. I’ll be speaking along with some of the most well-known experts in women’s marketing, like author Marti Barletta and the founding publisher of PINK magazine, Genevieve Bos.

In my presentation, Home is Where the Purse is, I’ll be explaining the immense buying power women have around the real estate transaction. Women are buying during life stages, so there's a huge opportunity to reach them during these moments. Marriage, the birth of a child, a growing family--these are opportune times to market to women. Since women also increase spending by 200 percent in the first year of home ownership, savvy marketers can capitalize on these life transitions. Today's woman is buying more than just a home; she's buying a lifestyle.

Women need to stop competing…

And start helping each other. It’s a topic I’m very passionate about, and I discuss it in my recent interview with Carrie Runnals, author of Words-To-Mouth blog and co-host of TheDivaCast. We also talked about women as natural networkers and the gifts we bring to the business world.

Click here to listen to the podcast.

Savvy Marketers Share Their Secrets

I just joined a great group of columnists-turned-bloggers that discuss strategies for reaching your target market. The blog-pub, published by Glam Media, is called eBrandMarketing, and it launched late last year. The articles focus on a variety of marketing topics, and I will be adding to the marketing-to-women voice.

Check out my first post: You gotta love eHarmony – even if you’re not in the market for love.

If you want to go for it, you can. And you will.

It all starts with you—and your dreams. That’s what got you thinking about owning your own business in the first place. You want to do it right. You want to make a difference. You want to call the shots. And you’re not alone. Women are starting businesses at twice the rate of men (maybe more), leaving corporate jobs because of inflexibility, frustration with the good old boys’ club and the glass ceiling, lack of creativity in the workplace and pure boredom.

Mary Kay is one of my favorite success stories.

Frustrated with the way she had been treated in a male-dominated world, a retired Mary Kay Ash used her life savings of $5,000 to launch a cosmetics company in 1963. Initially, she had only nine independent beauty consultants and a 500-square-foot store in Dallas, but she was equipped with a plan—and a passion. During her 25-year career, she had taken notes about both the good and the bad principles of business that she encountered. Much of what she learned from previous employers became the backbone of her business. For Mary Kay, founder of Mary Kay Cosmetics, it wasn’t too late to go for it—and she was determined to make it work. Mary Kay passed away in 2001, but her company continues to empower women today.

Get started now! Visit RealYouIncorporated.com for more inspirational stories of women who have followed their entrepreneurial dreams—and made them real.

The waiting game . . .

In the last post I wrote about what it's like to write a book. It was an amazing process. For more, check that post.

What stage am I in now? The big waiting stage. Since submitting my final galley proofs to Wiley, my publisher, I'm pretty much on hold until Real You Incorporated http://realyouincorporated.com/ is out in mid-February. My publisher is busy, though. They are doing all of the work of producing the book, and told me it should ship from the warehouse in New Jersey on January 25th. From there, booksellers who have ordered copies of the book should find it arriving in their stores. Online retailers - amazon.com, borders.com, bn.com, and booksamillion.com, could receive copies sooner.

Hopefully, your favorite online and/or real world bookstore will have the book available February 15th. It's also being distributed to Canada, the UK and Singapore, which I find very exciting. The power of women entrepreneurs is growing all around the world.

So this part of the process is similar to waiting for Christmas morning - just ask one of my kids. They'll tell you: the waiting is the hardest part! But hopefully, for them, and for me, and ultimately for you, it's worth it!

Merry Christmas!

Speaking of the facts

I spoke tonight at the National Association of Realtors Mid-Year conference in Washington, DC. The panel's topic was: Creating a consumer facing business. Other panelists included Allan Dalton of Move.com, Marty Frame of Fidelity, Justin McCarthy of Google, and other really important folks, well, important to the real estate industry.

My particular question was: tell us about women as consumers. Talk about that niche.

Now, of course, that was a softball question from my friend, Ed Krafchow, president of a big real estate company in California. He knows I've been building a consumer-centric brand with women as the primary target audience for 6 years.

So I said: Ed, women comprise more than 1/2 the population of the U.S, control 79 percent of all consumer purchases, and make or direct 91 percent of all home buying decisions. Seems to me, female consumers aren't a "niche" or minority group that needs to be dealt with.

Ed agreed!

It's true, you know

Gloria Steinem's recent sold-out visit to Comfortable Columbus (Ohio) is just one of the many signs that the collective power of women is becoming more apparent and verbalized. We're beginning to see the new wave of feminism - and it's not feminism as an "F" word. Nope, those pioneers - led by Steinem in the second wave just as Susan B. Anthony and the suffragettes led the first wave - had to be more combative. They were fighting for basic freedoms and rights for women.

Today, we all have the power to assume the place in the world of our own making. And if we all stick together, it will be powerful. And balanced. And, well, fun and real.

Women entrepreneurs are starting businesses of all kinds at an amazing rate. Women make or direct 91 percent of all home buying decisions, 79 percent of all consumer purchases and will control most of the wealth in the U.S. by the middle of this century.

It's exciting, this women ruling thing. But the main point is that the way women rule is different. We share. We care. We love men, too. We just want to do things our way. With support. Let's go!