Eight Tips for Successfully Marketing to Women

This paper compiles key insights on successfully marketing financial products especially targeted toward low-income women. It states that it is not enough to simply create a financial product as clients must also know how to use it. The paper suggests that as women need financial products tailored to their needs, marketing strategies must also be tailored to this unique customer segment. Effective marketing can bridge the gap between product offerings and client uptake. Key strategies provided in the paper include:

• Always start with market research;
• Institutions must market products to clients and there must be a special focus on helping staff understand a new product and why it is being offered;
• Make sure communications are relevant to clients since each customer segment speaks their own language;
• Marketing training for staff must be ongoing, reinforced, and linked to the mission;
• Communicating social missions can have financial returns;
• Changing everyday vocabulary can make a big difference to product uptake;
• Word-of-mouth and client testimonials are among the most powerful marketing channels;
• Provision of non-financial services to women can increase the value of financial products.