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How to Win in the Female Economy: Think Like an App

When I conduct research with people about what they buy and why they buy, I often hear women say that they already have a lot of stuff; what they could really use is more help. This kind of comment is usually followed by an enthusiastic account of all the apps they rely on to get things done, for everything from dog walking to hanging pictures, depositing money, buying clothes for their kids and getting groceries delivered (to name just a handful).

During these animated conversations, it becomes clear that there is an enormous appetite for services and not just products. In fact, if your business isn’t helpful or convenient, it just might be out of the consideration set entirely for busy women. The cliché that good help is hard to find is still true, and that represents a great opportunity for companies that can provide it.

With that in mind, I recommend kicking off the new year by innovating around the idea of adding more helpful (and hopefully revenue-generating) services to your product offerings. Look around and you’ll see how many companies are tapping into this idea of selling help alongside their products. IKEA bought errand-running app TaskRabbit; Amazon added Amazon Home Services for activities like home repairs and installations; StitchFix struck gold by curating and shipping outfits to busy women; grocery chain HEB offers hair cuts while you’re picking up dinner; lululemon tailors its clothes; the list goes on.

Read the full article on Forbes.com ›

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