If you think there is time to ponder whether you should become more active in creating a practice that supports and attracts women, I’m here to tell you time is quickly running out.
At $125,000 per second for a Super Bowl commercial, add to that one of the most successful women athletes in the world of tennis, Serena Williams, the Bumble commercial sent a POWERFUL message about women reaching millions of viewers. Financial advisors should sit up and listen,
“Don’t wait to be given power,” she is heard saying as she prepares to serve on a tennis court. “Because here’s what they won’t tell you: We already have it.”https://youtu.be/PQcXpoWIwxo
I have been coaching advisors on marketing to women for 18 years, and in all those years I have never seen the pendulum swing so strongly in favor of women. The support, the encouragement, the internal camaraderie between women (not always evident in the past) is off the charts.
Women’s walks, the Me Too movement, the record number of women entering politics, holding leadership roles and high profile positions are speaking out and encouraging all women to speak their truth, like never before. Like a Go-Kart that has been pushed to the top of the hill through sweat and tears has finally reached the pinnacle and the speed of progress will be hard to stop.
In the past women were content to receive a warm welcome. Just being included in the meetings with financial advisors (although uncomfortable) was enough. Today that is simply the price of entry. Advisors who take the time to learn how to communicate with women understand how they think and what is important to them will have a tremendous advantage as that women's Go-kart continues to accelerate and gain momentum.
You can't say you care about women without incorporating a more female-friendly message, process, and tools to help them become more engaged. Without these three important elements you can quickly appear a fraud; all talk but no substance. This is not exactly the impression you would like to make.
Think about when you first started in the business, the industry taught you how to sell, how to present your process, how to make presentations all designed to create positive momentum in your relationships with prospects and clients, which were mostly men. You practiced your new found skills until you honed them to a well-oiled machine. But those days were all about men and those skills and strategies worked for men. They don’t work for women.
Women require a very different approach, assuming women learn the same way men do is ludicrous. Women's brains, preferences and how they typically process information is biologically different. You can't assume the old school business model, sprinkled with splashes of pink is all that is required to woo women, it's more like a recipe for disaster. Dabbling in the women's market will insult women and can ultimately damage your reputation, erode existing client relationships creating excessive attrition.Related: Why Women’s Seminars are the ULTIMATE Client Attraction Tool
For women advisors, this feminine shift may come more naturally but that is not to say men can't attract women of wealth, quite the contrary. Most all advisors have been weaned on the traditional (male-focused) way of doing business as such regardless of your gender the shift towards a more feminine approach can at first seem challenging. But understand, creating a female-friendly practice is not an elusive esoteric process. femXadvisor.com has developed the complete model, incorporating all the essential components and leads you through a step by step process that makes the transformation one that reignites your passion, gets results and has a long term positive impact on business growth.
Transforming your practice to become female friendly isn’t about changing who you are and what you do. The process helps you uncover (possibly for the first time) your true value and then learning how to articulate your purpose in a way that triggers emotions, builds trust and inspires more confidence than ever before.