Cooper Tire & Rubber Company

Presenter: Dan KellyManager of Sales & Marketing Education

Webinar:SellingTirestoWomen

Major Topics

1. Howdowomenapproachthetirebuyingexperience?

2. Whataretheylookingfor?

3. Whatdotheyexpect?

4. Howimportantarebrandsandpricing?

Gender Differences

ØWhenwomentalkabouttirepurchasing,theytendtospeakintermsofsafety,costanddurability.

ØIncontrast,mentypicallyarelookingforbrand,performance,profilesizeandeventreadpatterns.

Tire Purchaser Demographics

35.8 64.2%%

TirePurchaserIndustryGender

47Avg.Age

52Avg.Age

Source: TraQline, Q22015 Per TicketUpfrom29%in2009!

Purchasing Power!

•Womenaccountforabout70-80%ofallhouseholdpurchasingdecisionsintheU.S.economy!(source:Forbes)

§ Womenaccountfor85%ofallconsumer-good purchases.

• 85%percentofAmericanwomenareresponsibleforthemaintenanceoftheirautomobiles.

• ForthefirsttimeeverinU.S.,therearemorefemalelicenseddriversthanmale.

• 70%ofwomenbuytiresoncetheyareinformedtheyneedthem.

Market Research, cont.

•Womencommand$10-15trillioninU.S.purchasingpower,projectedtoincreaseto$22trillion by2020!(source:Nielsen)

•Overthenextdecade,womenwillcontroltwo-thirdsoftheconsumerwealthintheU.S.

• 50-plus-year-oldwomenarethehealthiest,wealthiestandmostactivegenerationofwomeninhistory.

•Nearly80% ofwomenusetheinternetforresearchbeforemakingapurchase.

• Three-quartersofwomenpolledsaytheyfeelmisunderstoodbyautomobilemarketers.

What motivates buying decisions?

• Priceisthetopconsiderationwhenshoppingfortires;o Tirebrandwasonlykeyto20%offemalebuyers

Price47%

Brand20%

Store33%

DriversofTirePurchasesforWomen

Where do women buy tires?

• Sowhere towomengotobuytires??

- DiscountTire- PepBoys- NTB- Etc.

What the research says about selling to women…

• Youwillbeinabetterpositiontomakeasaleifyoutriggeranemotional connection(e.g. safety, security,peace-of-mind, etc.)totheproductoryourstore.

• Besureyouaresincereandthatthesinceritycomesthrough.

• Whenitcomestochoosingatireretailer, womengenerallywanttodealwith“friendly&trustworthy”personnelmoresothandomen.

• Womentendtobemorerelationship-buyers. Theywanttofeelaconnection toyouandyourbusiness. Mentendtobemoretransactional-buyers.

• Whenlistening,mentypicallywantfactsandfigures.Womentypicallywantmoreofthe“story.”

• Womenaremoreinterested (thanmen)inlearningaboutqualityandgettingtherightproductorservice tosuittheirneeds

How to market tires to women?

• Doatireinspectionatevery serviceintervalandinformingwomen,inatimelymanner,whentheywillneednewtirescanleadtoasale.

• Focusonfacts- Womentendtoconductmoreresearchandaskquestions,moresothanmen.Theyseekinformationanddetailsbeforetheywillmakeapurchase.

• Focuson“pre-selling”viatheWeb- Womenaremoredominantretailshoppersthanmen.RecentresearchhasrevealedthatwomenarefarmorelikelytoshopfortiresontheInternetfirst.Providethemwithchoicesonmerchandiseandservicepackages.

• Buildarelationship- Comparedtomostmen,whomtheybuyfromisfarmoreimportanttowomen.Theywillbuyfromasalespersontheytrust.Theywillbuyfromabusinesswithagreatreputation.

• Lookprofessional-Womentendtobemorediscerningthanmen.Theygenerallyaremoreobservantofyou,youremployees,andyourplaceofbusiness.Makesureeveryemployeehasaneat,professionalappearanceandarewell-groomed andyourstoreisclean,brightandpleasant.

Retail Keys to Success• NEVERassumewomenareunder-informed pertaining toautomotive

services. Alwayscreateanenvironmentofrespect&trust.Treatawomenbuying tiressimilarly toyouwouldasaman!

• Clean,well-stocked restroomsareamust!Employamonitoringschedule toensurecompliancy.Installmultiplehooksonthedoororwallstohangpursesandjackets,etc..

• Considerusingwomeninyouradvertising efforts

• Hirewomeninyourorganization!Only17% ofthetireindustryismadeupoffemaleemployees.

• Considera“play-space”forchildren ifspacepermits&makesureitiscleanedasroutinelyasyourrestrooms.

Retail Keys to Success

• Numerous studiessuggestthat50% ofwomenwillusetheInternettoresearchtires&prices. Doyoumaintainanonlinepresence? Doesyourcompetition?

• Consideroffering freeWi-Fi.Keepswaiting timelessdifficult.

• Greetyourcustomersintheparking lot&open thedoorforthem!

• Provideprintedmaterialthatsimplifiesmechanical language forALLcustomers!

• Holdspecial promotions anddealsforWomen-only.

In Summary

• Women are a major growth opportunity for tire retailers

• By focusing on their purchasing process, informational-based buying and long-term relationship focus – tire dealers can successfully grow their businesses as women become even more influential in tire buying.

Thank you!

• Questions?