In my last post, I wrote about G23, the two-year-old Omnicom consultancy aiming to help clients capture their fair share of the female economy. G23, whose name means “G” as in Group and “23” as in the number of xx or xy chromosome pair that determines sex, was founded by seven top female executives at Omnicom across a spectrum of advertising, PR, interactive, promotions and branding companies.
G23 was founded based on a hypothesis that women around the world were at the center of purchase making decisions across categories including household goods, autos, financial services, and technology. To better understand the connections between women and her purchase decisions, G23 conducted a quantitative study that examined the economic behavior of women in 16 countries. 8,000 women in sixteen countries were surveyed and their values, aspirations, attitudes, and purchasing patterns were analyzed. To supplement the research, G23 also conducted in-depth interviews in eleven of these countries. The findings conclusively showed that women were clustered in “tribes” in a way that crosses national boundaries. Interestingly, a group of 30 -year-old Chinese women were in the same tribe as women in America aged 50-plus.
G23’s ground-breaking research has recently been reinforced by studies completed by Boston Consulting Group’s Michael Feinstein and Maria Shriver’s report “A Woman’s Nation Changes Everything,” in which she discovered that wives are now earning more than husbands. Additionally, as mentioned in my previous post, The Harvard Business Review just published an article entitled “The Female Economy,” which suggested similar findings.
Although a women-focused group such as G23 is not especially new (Helen Lansdowne Resor at J. Walter Thompson led a famous “girl group” and more recently LeoShe was created as a consultancy within Leo Burnett Worldwide), G23 is the first women’s group to be formed from among top executive ranks. Its reach crosses disciplines and is truly global, due to Omnicom’s wide span.
So far, G23 has worked on several engagements, including Women Moving Millions, Chrysler, and The Limited. For Women Moving Millions, G23 produced a female voice that persuaded women of means to shift their investments to funds supporting women and girls. The work proved highly successful, as the company recently raised $184 million in the height of a recession....quite a feat. For Chrysler, G23 helped in delivering strategies to win the business of females over 50. And for the Limited, G23 will deliver transformational ways to attract and build business through media, cause marketing, loyalty and online strategies.