Build sales by building trust, expert says

As a group, women are invisible to sales agents, keynote speaker Rebecca Maddox, founding principal, president and CEO of international specialty sales consulting firm Maddox Smye, told attendees at "The Power of Change," the seventh annual Kids Today conference held last month.

But that attitude may be detrimental to the bottom line of independent retailers.

"If your sales people don't learn how to sell to women, they won't be selling in three to five years," she said. "Women are achieving a different seat at the table."

Maddox's research has shown the following statistics:

• 33% of working, married women earn more than their spouses
• 54% of college degrees are earned by women
• 50% of women older than 18 are single

"This is a group of consumers who are educated, earn money and are inheriting from their parents," she said. "And the biggest trend right now is single women having babies."

Maddox pointed out that 54% of women today are married; 25% have never married; 11% are divorced and 10% are widowed.

"The never-married and divorced women may be the biggest growing area," she said. "They can make an impact on your business. We're marrying less and we're marrying later."

And marital status is the biggest influence on the buying habits of women.

"When I have a baby at 40, I have a lot more money than when I was 22," said Maddox.

Once these consumers step into a store, the independent retailer should cater to them.

"Women buy after talking to each other. We ask our friends, 'where did you get that?' It's organic. We do it naturally," she said. "When she walks into your store, you should see two sales...hers and someone else she's influenced."

Women love to communicate, and retailers should join the group.

"In your own business, are you piggybacking on a concept [of communication] being used by customers in your store every day?" asked Maddox.

She said 70% of women say they'd rather be contacted by email rather than by phone.

"If you call me at home, you're interrupting something. You have to send me something that's valuable to me. If it's an ad, I'll delete it," she explained. "The goal of sending an email is to get them to respond to you. If she doesn't respond, you need to change your email message."

Maddox said her research shows that 70% of women are online.

"Everyone needs a Web site. Women don't go shopping anymore without looking online," she said. "We see the Internet as we see a microwave. It's a utility ...we can look up a vacation or buy flowers."

Maddox said women are online for four reasons: emailing friends, researching, shopping and conducting transactions. She urged the audience to figure out how to become a part of that.

Maddox said women communicate to connect.

"If [a retailer] is not communicating, they're not connecting. And if they're not connecting, they're not building trust," she said. "When a woman comes into my business, I want her to talk. Most of the time she will communicate everything I need to know to sell to her."

And building that trust through communication is critical to hold onto women consumers.

Maddox explained that the buying criteria for men are price, like and then trust. For women, the order changes to trust, like then price.

"Unless we trust you, we won't buy from you. We have a hard time playing with someone we don't like."

Maddox said the number one thing a retailer must do is to transfer that concept down to the salesperson.

"Do you want to double your sales?" she asked. "Look at what's happening with anyone coming in contact with that woman. We train [our salespeople] on product. But we never do much in terms of relating to people."

She stressed that price is not why women buy...but if it's the only thing a salesperson talks about, then price is everything...and the women won't buy.

One suggestion Maddox offered is that salespeople change their initial contact with a woman consumer.

"Ask them, 'How can I be most helpful to you today?' It puts you in the servant role. Practice it so it's sincere and it just rolls off your tongue and the consumer will probably start talking," she said. "Women are looking for a very specific shopping experience. And once a woman buys in your store, she'll keep coming back. She trusts you."

Maddox said retailers can sign up to receive a free email containing facts and figures about women at www.maddoxsmye.com/femalefacts.htm.

Rebecca Maddox