How does Owned Media Influence HER Economy

With the progress of gender equality and the rise of income of women, women now represent a growth market. Women can drive the economy as well. Female consumers are characterized by strong purchasing power, wide dissemination volume, and high brand loyalty. Thus, businesses should also create a winning strategy in the female consumers market in China. For example, the International Women's Day is a global holiday to celebrate the achievements of women in cultural, political, and socioeconomic on March 8. This particular event is a good marketing opportunity for businesses in China. This special day creates the shopping spree for women to buy presents to please themselves or to give to others.

Businesses with women as main customers can use events such as International Women's Day to create traffic for owned media, and eventually retain loyal customers.

How to maintain loyal customers?

Omni-channel approach
Omnichannel is a multichannel approach to sales which provides customers with seamless purchase experience whether online or offline. This omnichannel approach is an integration between distribution, communication and promotion.

Utilise WeChat Enterprise
It is recommended that businesses fully utilize WeChat Enterprise to establish effective relationships with customers as soon as possible, such as adding customers as friends by using the advantages of face-to-face service communication in stores. Then, businesses can provide after-sales service and professional knowledge to attract customers to the WeChat public accounts. This will help to cultivate brand awareness and deepen consumers' brand recognition.

In the past, businesses focused on 4P marketing such as Product, Place, Price and Promotion. However, the constant business environment changes means businesses have to stay updated to constantly create a winning strategy to achieve business sustainability especially with the rise of HERconomy.