I've always advocated that companies pay attention to their corporate halo when marketing to women. Women care about causes and issues, and they vote with their wallets. A Cone Holiday Trend Tracker poll found that 77% of women were likely to consider a company's reputation for supporting causes when purchasing gifts. In addition, 65% of female shoppers said they planned to purchase a product in which a percentage of the price is donated to a cause.
Corporate halo is the sum of a company's acts of social responsibility and community citizenship for the benefit of the whole community. Last week, The Chicago Tribune featured a story about Dress for Success, an organization that provides clothing and career counseling to unemployed women. Wal-Mart, in a very smart move, is backing Dress for Success. I was asked to comment for the article and was quoted saying:
"Wal-Mart's decision to support the office likely will win points with women, said Marti Barletta, president of Winnetka-based TrendSight Group and an expert on marketing to women. When choosing where to shop, women are more likely to favor retailers that benefit a cause they support, she said. Indeed, since the Wall Street scandals of the recession, women, even more than men, are favoring companies they respect, she said."
Wal-Mart is taking their community citizenship role seriously in other arenas as well - the company "intends to develop charitable partnerships worth $20 million in Chicago focusing on hunger, education and job training as part of its campaign to win political support to build more stores within the city's limits."
Certainly, more companies could learn from Wal-Mart when it comes to marketing to women.
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