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It’s 2013.

It’s 2013. Are You Marketing To Women?. One Approach to Engaging w ith the Female Client. Maria Mainardi Marketing to Women. Now, Let’s Get Serious. SSgA’s Global Marketing Group. Maria Mainardi Marketing to Women. Now, Let’s Get Serious. 51% of wealth in the US controlled by women.

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It’s 2013.

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  1. It’s 2013. Are You Marketing To Women?

  2. One Approach to Engaging with the Female Client Maria Mainardi Marketing to Women

  3. Now, Let’s Get Serious SSgA’s Global Marketing Group Maria Mainardi Marketing to Women

  4. Now, Let’s Get Serious 51% of wealth in the US controlled by women Assets = $8 trillion. By 2020 = $22 trillion Intergenerational wealth transfer over next 40 years = 70% of the $41 trillion SSgA’s Global Marketing Group Maria Mainardi Marketing to Women

  5. We’re Not Done Statistics also show women’s significant involvement in money management and household purchasing decisions. For example, of high-net-worth (HNW) women, 88% are moderately or highly involved in the oversight and management of their assets. Further, women control or influence 67% of household investment decisions and make 83% of overall family purchasing decisions (healthcare 80%, cars 68%, vacations 92%, home furnishings 94% and banking services 89%) that are worth an estimated $5 trillion each year. SSgA’s Global Marketing Group Maria Mainardi Marketing to Women

  6. We’re Not Done Additionally, women-owned businesses account for 40% of all privately held US firms and generated $1.9 trillion in sales in 2008. Finally, the fact that boomer women—the wealthiest demographic most in need of retirement planning assistance—stand to inherit assets from their parents and outlive their husbands by an average of 15 years, underscores the long-term advantages of improving how you work with women. SSgA’s Global Marketing Group Maria Mainardi Marketing to Women

  7. We’re Not Done 70% of widows leave their current advisor within 1 year. Why? They feel unheard. According to a 2008 State Farm Survey, two-thirds of women don’t trust financial service professionals. And the Boston Consulting Group surveyed 12,000 women from 21 countries and discovered women are most dissatisfied with the financial services industry, of all industries, on both a service and product level. SSgA’s Global Marketing Group Maria Mainardi Marketing to Women

  8. We’re Not Done My Good Buddy and His Story SSgA’s Global Marketing Group Maria Mainardi Marketing to Women

  9. One Word Defines the Gap Maria Mainardi Marketing to Women

  10. One Word Defines the Gap TRUST Maria Mainardi Marketing to Women

  11. Trusting Relationships . . . are not built with spa days and wine and cheese gatherings. Maria Mainardi Marketing to Women

  12. Trusting Relationships . . . are not built with spa days and wine and cheese gatherings. Conversation around women’s tendency to tie wealth to specific family goals Maria Mainardi Marketing to Women

  13. Trusting Relationships Source: Kingsbury, Kathleen. How to Give Financial Advice to Women: Attracting and Retaining High-Net-Worth Female Clients. 2013. Maria Mainardi Marketing to Women

  14. And the Industry Knows Maria Mainardi Marketing to Women

  15. And the Industry Knows Maria Mainardi Marketing to Women

  16. Is There a Magic Sauce? Maria Mainardi Marketing to Women

  17. Is There a Magic Sauce? Get Real. . Maria Mainardi Marketing to Women

  18. Is There a Magic Sauce? Get Real. No. Maria Mainardi Marketing to Women

  19. There is Real World Learning Three Guiding Principles. Maria Mainardi Marketing to Women

  20. There is Real World Learning Three Guiding Principles. - Keep everything value-based Maria Mainardi Marketing to Women

  21. There is Real World Learning Three Guiding Principles. - Keep everything value-based - Create shared sense of belonging Maria Mainardi Marketing to Women

  22. There is Real World Learning Three Guiding Principles. - Keep everything value-based - Create shared sense of belonging - Engagement relationship driven Maria Mainardi Marketing to Women

  23. There is Real World Learning Tone: Men, imagine you are talking to your mother. How you explain things. Your patience. Your demeanor. Maria Mainardi Marketing to Women

  24. There is Real World Learning Tone: Men, imagine you are talking to your mother. How you explain things. Your patience. Your demeanor. (Not your wife . . .) Maria Mainardi Marketing to Women

  25. There is Real World Learning Tone: Simplify the complex. If it sounds like a ton of work and in an area not understood, nothing will get done. Maria Mainardi Marketing to Women

  26. There is Real World Learning Tone: Use phrases like “financially fit, just getting organized, etc.” Women want to feel you are truly focused on their needs. Maria Mainardi Marketing to Women

  27. There is Real World Learning Presentation: Consider using “Prezi”, instead of PowerPoint. It’s a much more emotive and colorful learning environment. Maria Mainardi Marketing to Women

  28. There is Real World Learning Presentation: Storytelling is especially pertinent. Consider qualifying why you’re in the women’s market with a story . . . Maria Mainardi Marketing to Women

  29. There is Real World Learning Presentation: “I was raised by a single mom and saw how she struggled.” Show pictures of you as a child, with mom. Create maternal connectivity. Maria Mainardi Marketing to Women

  30. There is Real World Learning Presentation: Maternal topics . . . Caring for elderly parents, (including in-laws), protecting the family, children’s well being, dictating how money is spent, financial stability. The “what-ifs”. Maria Mainardi Marketing to Women

  31. There is Real World Learning Presentation: Leave twice as much time for questions. Repeat the questions asked, so women know you are listening. Maria Mainardi Marketing to Women

  32. There is Real World Learning Presentation: Never speak from behind a podium. Move about the room. Engage. Be careful not to speak in an authoritative tone. Find common ground. Maria Mainardi Marketing to Women

  33. There is Real World Learning Ongoing communication: Make sure women know - How to reach you - How long it will take you to respond (be prompt) - You are accessible Maria Mainardi Marketing to Women

  34. There is Real World Learning Connectivity: - You will get things done together. - “We’ll figure it out” - “I know it seems overwhelming” - Women need to believe they are important to you Maria Mainardi Marketing to Women

  35. There is Real World Learning Your wife will most likely be spending your money after you’re gone, so it makes sense to concentrate a portion of your practice on this vital segment. Maria Mainardi Marketing to Women

  36. There is Real World Learning This is a business strategy, not a once and done. Commitment, focus, a female partner and tools for ongoing, meaningful communications should be considered. Maria Mainardi Marketing to Women

  37. QUESTIONS ?

  38. THANK YOU.

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