As More Women Focus on Finances, Financial Services Firms Reach out with Targeted Marketing and Products

Marketing to Women: Addressing Women and Women's Sensibilities, March 2007 | Go to article overview

As More Women Focus on Finances, Financial Services Firms Reach out with Targeted Marketing and Products


In February, the 1,700 employees of Astoria Financial Corp. were encouraged to wear red to work. Across the federal savings and loan's 86 locations, a memo went out to promote the fashion statement, not in honor of Valentine's Day, but to signal the company's most recent cause marketing effort: support for the American Heart Association's Go Red for Women's Heath education program.

"One in three women have some form of cardiovascular disease. We are dedicated to helping eliminate this deadly disease by raising women's awareness about their own health," said Astoria's Brian Edwards, in the memo.

The Go Red campaign is part of a widespread trend among financial services companies reaching out to women. From support of social causes to sponsorships to credit and debit cards that come in pink, financial services companies are looking for ways to connect with women.

It's no wonder. Women's financial power is on the rise. As recently as the early '90s, men were the primary controllers of household financial decisions. But by 1996, women outnumbered men as the controller of the family checkbooks.

Today, more that 40% of American households have women as their CFOs, and almost 70% of U.S. households have women who either direct or are actively involved in managing the family money, according to The MacroMonitor, a research division of SRI Consulting.

What's more, women's affluence is on the rise, making them increasingly attractive to financial services providers. Prudential Securities estimates 40% of American women have investable assets of $100,000+. Estate Legacy Vaults estimates women control 51.3% of private wealth in the U.S. and since Baby Boomer women are expected to outlive their husbands by an average of 15 years, they stand to inherit much more over the course of their lifetimes. "If financial advisors are blind to middle-aged women, they stand to lose some of their wealthier customers just as they are about to become wealthier still," says Jill Fallon, founder.

That very fear has financial services firms of all kinds hustling to connect with women.

* NetSpend Corp. and ACE Cash Express teamed to create pink All-Access Visa Prepaid Cards. The reloadable cards are available to new and existing ACE customers.

* AIG donated $1.1 million to the Make Mine a $Million program, created to provide micro-lending opportunities for women. In making the contribution, AIG officials noted the company's ongoing commitment to providing support for women-owned businesses.

* The Bank of New York is a flagship sponsor of the American Cancer Society's Making Strides Against Breast Cancer annual event. …

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

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.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited article

As More Women Focus on Finances, Financial Services Firms Reach out with Targeted Marketing and Products
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
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?

Help
Full screen
Items saved from this article
  • Highlights & Notes
  • Citations
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    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.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.