Marketing to Women: The Banks' Most Important Customers

By Barletta, Martha | ABA Bank Marketing, October 2003 | Go to article overview
Save to active project

Marketing to Women: The Banks' Most Important Customers


Barletta, Martha, ABA Bank Marketing


Martha Barletta is president of The TrendSight Group and author of the newly released book, "Marketing to Women: How to Understand, Reach and Increase Your Share of the World's Largest Market Segment" (Dearborn Trade Publishing).

Q:. Why are women important to the financial services industry?

A: Because with the economy as tight as it is, and financial services competition increasing astronomically over the past five years, firms need to market smarter if they want to survive, let alone thrive and gain a competitive edge. And the best way to do that is to focus in on their key customers, and develop harder-working marketing communications that are more effective in creating awareness, preference and action.

Q: Are you saying woman are key customers?

A: There's no question about it. They make the decisions in almost every aspect of the business: Women handle checking accounts in 85 percent of households; credit cards are carried by 76 million women, compared to 68 million men; women buy 68 percent of all new cars in the United States; women have sole or joint ownership in 87 percent of U.S. homes owned; women own 40 percent of all small businesses and account for 70 percent of entrepreneurial start-ups over the past decade, women already control over half of U.S. wealth today. By 2019, The Economist Intelligence Unit estimates women will account for fully two-thirds of wealthy Americans (available investment assets of $500,000 or more).

Q: A loan is a loan, a fund is a fund: Why do we need to market differently to women?

A: Because (brace yourself) men and women are different! And I'm saying that based not on stereotypes or anecdotal observation, but rather on thousands of statistically significant findings over the past 20 years in fields like anthropology, brain structure, human development and psychology. Put it all together, and you get a picture of a female gender culture that is really quite different from male culture. Not only that, but the differences are concentrated right at the heart of marketing--how she sees herself and her life, what matters most to her, what goes into making a major decision, and what communication patterns she uses and responds to.

Think about it: If you were introducing a product in a country with another culture, you would tailor your message, language, visuals and media choices to work within that culture, right?

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
Loading One moment ...
Project items
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

Cited article

Marketing to Women: The Banks' Most Important Customers
Settings

Settings

Typeface
Text size Smaller Larger
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

While we understand printed pages are helpful to our users, this limitation is necessary to help protect our publishers' copyrighted material and prevent its unlawful distribution. We are sorry for any inconvenience.
Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.

Are you sure you want to delete this highlight?