Beverly Flaxington wrote an interesting article about women and financial advisers. If you are a woman, does this apply to you?
1. Relationships matter. A woman might consider how her decision will affect a family member, child, spouse, significant other or friend even when a man might not. Talking about impact on others can be very helpful to a woman in understanding the different options.
2. A woman’s relationship with the salesperson matters too. Can I trust this person? Are they explaining things well to me? Do they value me as a person? Are they open to my questions, or are they making assumptions about me? I can’t stress enough that relationship dynamics are crucial.
3. Improving my life matters. Women, in most cases, are stretched. Statistics have shown that women are more likely to do certain things than their male counterparts, like buying a birthday gift for a child’s friend’s party, looking into nursing homes or caregivers for aging parents, or canceling plans because a friend is in need. In short, we frequently have to “do it all.” Therefore, for women, having their needs met in a way that makes their life easier is important. Does it save me time and money? Does it make doing what I need to do easier?
4. Women want – and need – to be supported. In some cases, we may care more about what someone thinks of us than our male counterparts. We often care more about effects on our co-workers or their feelings about something. We often feel a desire to take care of the people around us in a variety of ways.
5. Women want to understand what they are buying. It’s not about how “cute” it is, or the pretty colors or the way it shines. It is about what it does, how it does it and whether it will keep doing it once it isn’t under warranty! Women, in most cases, like to be knowledgeable about what they are getting. They want to understand pros and cons. There is nothing more insulting than the “selling to the little woman” approach that says we only care about the color of the car and not the safety features, gas mileage and how fast it can ramp from 0 to 60!
We have found our woman clients to be some of our best and most loyal and we enjoy working with them.