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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

It’s 2013.

Are You Marketing

To

Women?


It s 2013

One Approach to Engaging

with the

Female Client

Maria Mainardi

Marketing to Women


It s 2013

Now, Let’s Get Serious

SSgA’s Global Marketing Group

Maria Mainardi

Marketing to Women


It s 2013

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


It s 2013

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


It s 2013

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


It s 2013

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


It s 2013

We’re Not Done

My Good Buddy and His Story

SSgA’s Global Marketing Group

Maria Mainardi

Marketing to Women


It s 2013

One Word Defines the Gap

Maria Mainardi

Marketing to Women


It s 2013

One Word Defines the Gap

TRUST

Maria Mainardi

Marketing to Women


It s 2013

Trusting Relationships

. . . are not built with spa days and wine and cheese gatherings.

Maria Mainardi

Marketing to Women


It s 2013

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


It s 2013

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


It s 2013

And the Industry Knows

Maria Mainardi

Marketing to Women


It s 2013

And the Industry Knows

Maria Mainardi

Marketing to Women


It s 2013

Is There a Magic Sauce?

Maria Mainardi

Marketing to Women


It s 2013

Is There a Magic Sauce?

Get Real. .

Maria Mainardi

Marketing to Women


It s 2013

Is There a Magic Sauce?

Get Real. No.

Maria Mainardi

Marketing to Women


It s 2013

There is Real World Learning

Three Guiding Principles.

Maria Mainardi

Marketing to Women


It s 2013

There is Real World Learning

Three Guiding Principles.

- Keep everything value-based

Maria Mainardi

Marketing to Women


It s 2013

There is Real World Learning

Three Guiding Principles.

- Keep everything value-based

- Create shared sense of belonging

Maria Mainardi

Marketing to Women


It s 2013

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


It s 2013

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


It s 2013

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


It s 2013

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


It s 2013

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


It s 2013

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


It s 2013

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


It s 2013

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


It s 2013

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


It s 2013

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


It s 2013

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


It s 2013

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


It s 2013

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


It s 2013

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


It s 2013

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


It s 2013

QUESTIONS ?


It s 2013

THANK YOU.


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