It’s time you start selling to women.
Affluent women are everywhere– 50% of millionaires are women, and they are poised to inherit 70% of the $41 trillion in inter-generational wealth transfer expected over the next 40 years. Women have the money, and they will only get more of it.
But that’s only one (really big!) reason to sell financial services to women. Here are four more:
- Women are easier to reach. Hardly anyone prospects wealthy women! Who wouldn’t love a target market that faces almost zero competition?
- She’s very motivated to purchase financial services, both for herself and her family.
- Women are very loyal clients. Once she selects you, she’ll stick with you. Financial advisors of my experience report that women are much less likely to defect during downturns. Because she was thorough in her financial advisor selection process, she knows her decision has yielded the “Perfect Answer” for her needs.
- Make her happy, and she will send you way more referrals than her male counterparts. One financial advisor tallied up his referrals and found that, on average, men referred two clients, while women sent him 26 referrals. Wouldn’t you like to multiply your referrals by 13???
To learn more about selling to women, watch some of my Selling Financial Services to Women videos. I’ve put together this super-helpful playlist, sure to provide useful to-dos and to-DON’Ts that help you up your sales game.