Now that The $14 Trillion Woman is published and getting out to advisors, I’ve been talking to clients about the differences between what works with women prospective clients (compared to what works with men). The conversations have been enlightening for me and for the advisors. During one conversation I was talking with an advisor about how to find women investors. We were talking about going where women congregate. I suggested he find out what groups his women clients belong to. This would help him understand where women in his community gather. Also, if he has bonded well with his current clients he should have advocates in the group to assist him with introductions and referrals. Afterall, there is no reason to make reaching new women clients difficult. No need to “cold call” unnecessarily.
During our conversation, I was struck by how this common sense approach (go where the clients hang-out) was really not obvious to the advisor. After listening to me a bit, he burst out with: “Oh yeah! Women are alway joining groups and s——-“. He was surprised and so was I. He never thought of looking into women’s groups and I find that to be incredibly obvious. It just goes to show how easy it’s been for advisors to be disconnected to women clients.
Of course, advisors have been going to client hang-outs for a long time. However, these hang-outs have been places most men congregate: golf courses, country clubs, men’s business groups etc… I believe these hang-outs have become the standard as the only places to go for clientsout of habit. To connect with women clients advisors may need to try something new. Women may congregate at these same places or they may be in entirely different groups altogether.
Fact of the Day:
Women recommend 300% more than men. If you go where the women are gathering and connect in, you have great opportunity for voluntary advertising and promotion.
Tip of the Day:
In order to reach women clients, consider new venues that may be outside of your established habits. Most likely, your habits started because they were the common sense marketing opportunities for male clients. Wipe the slate clean of expectations and consider where the women clients are in your community . Fruitful client opportunities have probably been right under your nose all along.
