Did you ever see the movie What Women Want where Mel Gibson could hear what women were thinking?
It’s a hilarious and ridiculous movie co-starring Helen Hunt. While the movie would be seen as very inappropriate today, the genius is the title.
What Women Want.
Do you know what your female clients want from you and your company?
Do you know what is important to them?
Do you know how they make decisions?
Do you know what words they associate with luxury purchases?
Do you know what your women leaders in your company want and need in their career?
No?
Then let me help you.
We recently completed a comprehensive research study with the talented team at Audience Audit called: “What Women Want: Mapping the Luxury Mindset.”
We explored what women in leadership want. We asked a gazillion survey questions to determine what is important to them, how they make decisions, how they approach their careers, and how they think about luxury.
And guess what? That research confirmed what we’ve known all along: luxury is a mindset.
We discovered four distinct attitudinal segments that reflect different perspectives, beliefs, preferences and feelings about luxury. These segments had specific characteristics, challenges, and concerns. And we also discovered information about their buying habits and what influences their decisions.
I’m so excited to share with you the results of the survey in the next few months. If you’d like to be one of the first to get your eyes on it, click the button below and we’ll put you on the list!
You might know that my fave Luxury Travel event of the year is Virtuoso Travel Week.
If you’ve been watching my Insta, you can see why it’s been dubbed the “Fashion Week of Travel” (if you’re not following me, click here to follow my adventures and watch some fun reels)!
I was so excited this year because this was the very first audience to hear our research findings—they were fascinated to learn more about the luxury mindset, how to customize their sales approach, and how to structure conversations for these unique buyers.
We shared:
- All four segments responded that they use luxury items, or experiences to reward themselves for hard work.
- While they all purchased a wide range of luxury goods and experiences, 78% purchased airline tickets and 50% purchased luxury travel experiences in the past year. 61% said they still expect to purchase luxury travel this year (and it is only August!).
- Interestingly 56% said previous experience with the brand MOST influences their luxury purchase. NOT budget (only 54%) and not a referral (that was only 28%).
- Top priority for these women was luxury EXPERIENCE more than luxury goods.
What do all these percentages tell you, even if you’re not in the travel business?
The woman with a luxury mindset is prioritizing experiences over things. She is creating moments that matter.
What can you do to elevate the experience your clients have with your brand? What can you do to elevate your team’s experience with your leadership style? What can you do to elevate the experience your family has of you at home?
To elevate every experience you need to pay attention. Not just pay attention, but invest intentional attention.
Remember, as you often hear me say, INTENTION makes ATTENTION valuable.
If we want our clients, colleagues, and community to invest their time, resources, and attention in us we have to also ensure we are NOT distracted.
There are costs for NOT paying attention.
In our book, Attention Pays, we have a whole dedicated chapter on the costs of inattention.
- 115 people have died every day this year as a result of distracted driving in the US (distractions occur by taking your eyes off the road in as little as two seconds according to this 2018 article!)
- $588B is lost in the US every year because of interruptions, according to the Information Overload Group
- In a study of 2000 respondents, Think Money found a total of 759 hours (that’s 31 days) is lost time every year due to distractions
As a busy leader, it’s understandable how easy it is to be distracted. But when we take our eyes off the metaphorical road of driving the results for our company and our team, there are real costs for that distraction.
Your focused attention as a leader is one of the greatest gifts you can give anyone, and when you complement that with knowledge of what your clients and your colleagues want, you can drive your results in an even stronger way.
What can we all do to create a more memorable experience for those in our lives so that the people in our lives (and our clients and customers!) feel seen and heard? What will you do? Hit reply to this email and let me know!
If you are in the luxury industry or selling to women and want a copy of our research, visit this page to sign up to receive the report when it’s finished!
