The Ultimate #GirlBoss Experience
Let’s face it - women in general have consistently felt under serviced in just about every market, yet they account for an incredible portion of annual consumer spending; an astronomical $20 trillion dollars to be exact. A report by the Harvard Business Review found that women around the world are feeling more taxed than ever, being pulled in multiple directions - family, work, friends, fitness… the list goes on. And yet, there’s been a significant lack in products and services that respond to their need to save time and money, or ones that are designed specifically with them in mind.
Companies have had to shift their focus to start honing in on the female market, and there have been a few stumbles along the way. A great example would be Dell back in 2009. They attempted to target the female market with a dedicated website just for women. The only problem? It focused on color schemes and accessories and not the functionality of the product. Needless to say, women everywhere were pretty incensed, and Dell listened. They pivoted, changed their tactics and responded to consumer feedback - and because of that, they generated some serious brand equity and nailed their customer retention metrics.
We need to keep talking about customer retention because statistics show that acquiring a new customer is 5-25x more expensive than keeping an existing one. That’s a lot of money on the line and exactly why keeping your customers happy is crucial - especially for startups. We found an incentive program that one company is using is absolutely knocking it out of the park.
Mavely is a social shopping and sharing platform that features products and services created, owned, or operated by female entrepreneurs and is geared towards women. More than that, Mavely helps women earn a commission on things that they share when their friends make a purchase. In the United States where any kind of long term maternity leave seems merely a hope for the future, we feel like this has the potential to create a major splash for the mom community - and make a difference in a whole host of families.
Empowering women by giving them the opportunity to earn money from home that doesn’t involve a financial outlay at the start is something that Co-Founder and CCO, Peggy O’Flaherty is really passionate about.
“Women rely on one another for recommendations - we trust one another,” she said when we caught up with her. “As a woman with eight sisters, I know just how much another woman’s opinion can sway me when I’m trying to make a decision. Women can make or break a brand.”
And she’s not exaggerating. According to Forbes, women drive as much as 80% of all purchasing decisions and 94% of women spend over an hour a day shopping online. That’s a pretty big market share. Who runs the world? GIRLS!
Women are famous for recommending products and services that they love to the people that they love - they’re all about helping others. Mavely helps drive that nascent quality by incentivizing them to keep sharing. If you think about it, this is the basis of the rise in influencer culture, but Peggy knows that influencers are only part of the puzzle.
“Influencers have an amazing place in brand development and promotion - but so do everyday women who are in the trenches of life right along with me. Those recommendations are ones that I really trust, too!”
In this way, for brands, Mavely represents a unique opportunity - a way for women-focused products and services, or those created or entrepreneured by women, to connect with an audience that will really resonate with what they’re putting on the market, without having to spam them on social media. Mavely knows exactly who their target market is - and how to speak their language.
It’s no secret that people are more likely to purchase a product or service that’s recommended by a friend or family member. According to PR Daily - that number is actually a whopping 83% of consumers, and women are 22% more likely to rely on word of mouth referrals than men are! Women have countless people who are Mavens in their own domain, be it cookware, the hottest technology, cosmetics, or fitness gear. Tapping into that represents a pretty significant return on investment for brands.
The best part about Mavely is that it’s completely free to use - for both brands and consumers! But wait, what’s in it for them? Mavely makes a small commission directly from the brand whenever they make a sale - so they only get paid when the brand gets paid. Genius.
Everybody loves a good win-win situation - especially when it’s all about helping others.
Haven’t checked out Mavely yet? What are you waiting for? Get to it.