Find Yourself a Wealthy Widow

It’s time to break through a few myths about affluent, widowed women. With 50% of U.S. millionaires being women, marketing to affluent women needs to become a high priority for financial planners and insurance companies. And a large portion of these affluent women are widowed or divorced. Here are the tropes I am likely to hear from industry ‘experts:’

“There’s no point in targeting widows.”

“Widows are neither involved nor interested in financial management.”

And here I thought it was 2015, not 1915 (or even 1815!). Many women must sense this attitude and look for greener pastures, because…

70% of Widows Walk

Find Yourself a Wealthy Widow

According to Allianz research, 70% of widows and divorced women leave the financial advisors their spouses used. That seems pretty involved and interested to me.

The sales and marketing opportunity for the widowed market is huge. The average age of widowhood is 60, and a 60-year-old woman today can expect to live another 23.4 years. These women will control the combined assets of both sides of their family for over two decades.

Wealthy Women Will Get Wealthier

Here’s a market that will keep growing. Over the next 40 years, women will inherit 70% of the $41 trillion in inter-generational wealth transfer, according to Boston College’s Center on Wealth and Philanthropy.

Marketing to Women Only Makes Sense

Considering their lifespan and wealth accumulation, marketing to women who are widowed and divorced will hold a significant early-mover advantage for financial and insurance firms that act quickly. Because, hey, I hear that 70% of widows are looking for a new financial advisor.

This entry was posted in Financial Services, Market Research, Marketing to Boomer Women, Selling to Women, Women as customers and tagged , , , , on by .

About Marti

To The Huffington Post, she’s “the High Priestess of Marketing to Women;” to TIME magazine, “the Chief Rabbi of the Sheconomy.” Renowned business guru Tom Peters calls her “the First Lady of Marketing to Women” and says she “is one of the best presenters, male or female, I’ve ever seen.” Marti Barletta shows you how to get more customers, make more money per customer and keep customers loyal longer - simply by getting smarter about women. Her first book, Marketing to Women, is available in 19 languages,” and her latest book, PrimeTime Women, focuses in on the market’s high-spending sweet spot - Boomer women in their mid-life prime – and shows marketers how to use this prime segment’s growth, size and buying power to propel their business for the next 20 years. As the go-to authority on marketing to women, women in leadership and women’s growing role in shaping the 21st century, Barletta has been quoted on CBS, ABC, MSNBC and NPR, as well as in The Wall Street Journal, The New York Times, The Economist, USA Today, Fast Company, TIME, Business Week, Inc., and many other publications worldwide. Ms. Barletta’s consulting clients have included Diageo, Ford, Kodak, Pfizer, Volvo Worldwide and others. A popular speaker internationally, she has enjoyed rave reviews on every continent except Antarctica, including in Australia, Chile, Dubai, Japan and Sweden. She has spoken for hundreds of companies, conferences and associations; and across dozens of industries, including consumer products, financial services, travel and tourism, retail and real estate development, to name a few. She is proud to say that numerous clients have booked her for return appearances. Her dynamic style, command of her subject and passion for her topic make her a popular speaker. Audiences love her practical tactics tailored to the interests of each audience, her lively style and sense of humor, and her memorable stories about men, women and marketing. Specialties:I show you how to attract more customers, keep them longer, and earn more money from every customer simply by getting smarter about today's mightiest market - women.

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