Networking, Social Media, And Female Clients. Do You See A Connection Here?

Thursday, August 16, 2012 07:30
Networking, Social Media, And Female Clients. Do You See A Connection Here?

Tags: client communications | Social Media | women investors

Two trends that are increasingly arm-in-arm with each other are the involvement in social media and the move to attract more women as clients. Social media is all about building community.
Since women’s brains are automatically programmed to form relationships, networking and communication are talents advisors have little choice about developing.

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Building community is all about including participants in the conversation. Educational programs are a great way to create a networking atmosphere. But educational programs shouldn't be primarily in a lecture format.
Talking one-on-one about how women feel about money, investing, and financial matters in general is a complementary step. Creating an atmosphere where women can talk to and learn from each other about these issues will set you apart and will inspire women to bring their friends to your events.
Asking women about past experiences with money and investing can help you explore together. It will help you learn about fears your female clients may have about money as well as goals they may have for investing.
For example, the bag-lady syndrome is still an issue with most women feeling they need at least $50 million to feel confident that will never happen to them. Women also have a keen interest in educating their children about financial matters.
You can also fold in topics of discussion around healthcare, taxes, and other financial matters at events you might hold on topics of interest to women. Such topics may include fashion, food, or starting a business.
Life events and circumstances should also be considered in setting event agendas. Widows and divorcees may have different needs than female entrepreneurs.
Many women are in transition, either resuming careers after having children, starting a career after experiencing a divorce, or earning a degree they never completed earlier in life.
It's true that women require a different approach. But as fiduciaries, it shouldn't be rocket science to realize that considering women's needs is the quickest way to attract them as clients.

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