Why Banks Talk to Women Differently

Examine your own house first

What rock has Larsen been sleeping under for the last 50 years? I have seldom read a statement as condescending as "Women only think about money when it intersects the stories of their lives." If that is the assumption from which financial companies start from, no wonder their campaigns to women have been less than successful.

As a marketing strategist and writer, I would suggest that the banks and investment houses take an unbiased look at the printed and online materials they spew out ad nauseum. Almost without exception, these are stodgily written, clogged with jargon and illustrated with stereotyped photos right out of the clip-art archives (businesswoman with navy suit and briefcase striding through corporate halls; smiling gray-haired couple at Golden Pond; happy at-home mom in kitchen with toddlers).I don't have stats, but I strongly suspect that most men find this stuff equally yawn-producing.

If the financial companies want to attract women as customers, it would make sense for them to examine what women's lives are really about today, instead of assuming a straight line from school to job to marriage to retirement. And it would make even more sense for them to address real-life needs rather than old-world assumptions about women.

Barbara Bonn, New York, NY of NY @ Jul 21, 2008 14:35:03 PM

Lifetime changes influence women

I was widowed in April of 2007, but fortunately in nearly 35 years of marriage my husband gave me a wealth of financial information. Both of us were college graduates, and he had always been in business for himself (the College of Hard Knocks). Hubby trusted me and after two years of marriage put everything in my name. Some experts would call this choice unwise, but he kept educating me about financial matters all through our many years together. He had, by the way, marrried me with two small toddlers in tow. He told me that he knew that he had to take the whole package to get me.

His favorite expression: "Cash talks. Bullshiit walks, and my name is Cash!"

The other comment that I often remember: "Use your head instead of a hat rack! Translation: "You are a smart women. Use your brain, Girl!" Consequently, I now have a beautiful piece of property with a great view of Mt. Jefferson--plus my own PERS pension (I taught high school English for many years.) I would, however, rather have him beside me. He had a wicked sense of humor, and we discussed all manner of things.

Sue of OR @ Jul 21, 2008 14:03:35 PM

Earning the right to look in the purse

Current efforts at marketing and educating consumers are based on how men learn. That's why it's not appealing or effective with the majority of women. Another problem is "information smog" which is often used to obfuscate the sales pitches. Financial service providers need to honor how women learn and make decisions rather than dumb things down. They need to earn the right look inside our purses! Nancy Dailey, Ph.D. www.womensmoney.com

Nancy Dailey. Ph.D. of VA @ Jul 12, 2008 14:41:50 PM

I agree with Stephanie

This is insulting. Women beware and run, run when somebody throws down a 1950's life model at your feet. Run to the bookstore or library and educate yourself--these advisors sure as heck aren't going to do anything but set you up for failure and pick your pockets.

Mary of NM @ Jul 11, 2008 12:14:53 PM