Is Health the New Wealth for Women?
If money can no longer be thrown about and perceived as a status measurement tool, where do people turn to gauge their place in society in times of economic challenge? It’s a tough call, because this sort of situation cuts to the quick, psychologically. Very few people would actually admit that status matters to them, but truth be told, it does.
Consider how the usual status-symbol suspects, like huge gas-sucking vehicles or frequent dinners out, now make consumers look, well, a little unwise and undisciplined. Not surprisingly, people are losing their bearings as this belt-tightening time changes the ways by which they are socially measured.
Being "in control" used to be signified by wealth accumulation and display. But now, according to new research – and with regard to women in particular, that sort of control is demonstrated by health. Manning Selvage & Lee‘s recent M2W Conference presentation, "The New High Society: What Status Means to Women in 2008" (which was based partially on a GfK Roper survey of 1000 Americans conducted in
mid-April) included findings that ring true with the behavior I’ve been studying in the past year or so. For example:
"94% and 93% of women, respectively, say being ‘emotionally healthy ‘ and ‘physically healthy’ is what personal success means to them."
This emotional and physical health angle sounds a lot like the general direction that Oprah has been leading her viewers lately, doesn’t it (think Eckhart Tolle)? Anyway, in addition to the "HealthEsteem" trend, MS&L also found that today’s women are taking a more disciplined approach to life (which may well drive the health interest), and offers these suggestions for brands trying to be more relevant along those lines:
HealthEsteem – Showcase the positive steps your target female is taking for her health no matter how big or small, and she will relish in the acknowledgment from your brand.
The Disciplined Life – Brands that help her assert discipline into her daily routine will make a meaningful connection to today’s woman.
With piles of money no longer a way to demonstrate freedom of choice (and all its perceived glamour), lots of people are turning inward and focusing on what they still can make choices about in their lives: what they eat, their physical and mental health, and so on. And, yes, just as with wealth esteem, HealthEsteem (as per MS&L) brings along with it a fair amount of stigma toward all things not-healthy (eg: "That woman is giving her child a sweetened juice box! I can’t believe it! I haven’t seen her running lately, either! Horrors."). The pendulum can certainly swing too far to the extreme.
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When you connect the dots of the economy and movements toward more social and environmental responsibility, in general, these health and discipline-related trends for women make a lot of sense. The societal issues we now face are forcing a shift that I suspect will have staying power. For one – it is definitely becoming hip to be healthy – and the early adopters (as is so often the case – coastal and urban consumers) will certainly influence what the media covers, which will then inspire/motivate the next layer of consumers, and so on. This would probably already be evidenced if anyone could afford the time to analyze the content of New York Times Thursday style section or even local news coverage over the past two years.
So, what might this mean for your brand or industry? For residential developers, create walkable communities with easy access to locally grown foods (health and discipline). For life insurance companies, leverage the discipline of being prepared for the unknown (not via fear but through a sense of being "in control"). For retailers, consider the health/wellness pitch over the beauty/spa treatment angle in your women-focused sales promotions.
One caveat, as always: women have radar for a slap-dash approach on any marketing front. So, you can’t just do a one-time and very public "health-inspired initiative." Rather, you’ll need to commit and start taking the baby steps toward a more health-connected brand future altogether.
Of final and interesting note in terms of just what "health esteem" might mean to women: Recent research by Meredith/NBC Universal shows that women are most interested in the health issues that relate to their appearance, with less concern about more serious diseases or conditions. So – it would seem that physical health for the bulk of women is more about the "softer side" and not the fear-causing facts of diseases like cancer. Hmmm. Such details are definitely worth noting.
My take? Brands should take the Manning Selvage & Lee findings seriously, and plan to conduct their own studies to get to the heart of the matter with their unique markets.
Health-esteemed women everywhere are expecting it.
