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Industry leaders tell us what not to say with female clients and what women want in an advisor. What is virtually unanswered, though, is how advisors can meet female prospects.
From the perspective of someone who is female and was an advisor, here’s what I would do.
Don’t be a social media sniper
Have you seen some of the female entrepreneur groups on Facebook?
Especially the ones about “mompreneurs.” These groups are on fire. People are throwing videos up right and left, chatting, doing deals. They’re money-making machines, some of these women. It’s not just Facebook – on LinkedIn you will find the Citi Connect group, which has over 460,000 members.
Even if you’re not female, you can still join and participate in these groups. The group owner may ask you why you are interested before approving you, but as long as you have a good reason that doesn’t involve selling them products you will get approved.
Don’t be a social media “sniper.” You know these people. They get into the group, spray around content and then don’t even stick around to see if anyone commented on it. Or, they just start posting into groups without taking the time to participate in other people’s discussions or to understand what the group is really trying to accomplish.
Would you go to a cocktail party and act out a sniper routine, yelling out something to a group of people and then leaving before anyone has even a chance to respond?
No.
But for some reason because it’s online people don’t get that it’s the same exact thing.
Don’t be a sniper, everyone.
Actually have content about women’s financial issues
I’m constantly on advisor websites and seeing people who are so-called financial experts for women. Then I go to their blog and I see nothing of value or of particular focus on this subject. Instead I see the same tired content about the Trump tax code.
Huh?
Was that female stuff just a fancy decorative title? If so, then expect to get no further than you would with the cherub statue that sits as an ornament on your lawn.
Symbolic.
Artistic.
Cute.
But lacking the potential to motivate anyone to take action.
To be useful to women who have questions about their money, then right after you are done reading this article, close up your laptop and call five successful women you know.
Ask questions like these:
- “Raquel, if there is one thing about your money that you feel you could know more about and do better with managing, what would it be?”
- “Clara, what was the one piece of financial advice that you haven’t acted upon yet that you wish you had been able to, and why?”
- “Linda, what do you feel is the number one thing that women you know could be doing better with when it comes to their personal finances?”
Just listen to what women say. After you are done listening, create a blog about what they said. Then send the blog to the people you interviewed and ask them to post it to their social media page or any women’s groups to which they belong.
By the way, you don’t have to present your content as a blog. There are podcasts, YouTube videos, snapchat clips and on and on.
Conduct a women’s study or survey
If you work with successful women, why not (anonymously, of course) capitalize on the knowledge you have in your back pocket? Conduct a formal study about a matter of concern to them. Then find a magazine or organization that will promote it.
Or, create a survey for your website and post it on social media. Use paid advertising to promote it. As you draw people’s attention to your website, as long as you have content there that reflects you are an expert in this area, you’ll get them following you.
This also creates the opportunity to capture their information. All you have to do is to create a hook at the end such as “Want to know the results? Enter your email.” Now they’re in your database.
Sara’s Upshot
Everyone likes to be listened to, male and female. As with any human being, if you want them to listen to what you have to say, you have to listen to what they have to say first.
By the way, if you want to learn to slay on LinkedIn I’m having a webinar on this subject which you can sign up for here.
Sara Grillo, CFA, is a top financial writer with a focus on marketing and branding for investment management, financial planning, and RIA firms. Prior to launching her own firm, she was a financial advisor and worked at Lehman Brothers. Sara graduated from Harvard with a degree in English literature and has an MBA from NYU Stern in quantitative finance.
Read more articles by Sara Grillo
Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.
