Are women really a niche market?Blog added by Maribeth Kuzmeski on August 29, 2013
Maribeth Kuzmeski

Maribeth Kuzmeski

Grayslake, IL

Joined: September 04, 2002

Are women really a niche market? If women are a niche, then I guess men are, too. However, you rarely hear a business — for instance, a financial advisory firm — claim that they are targeting men. Then why women? There is no question that working with women is an art, but perhaps not in the way you may think.

Thinking through the targeting of women as a profitable market for your firm may begin with clearing the slate. For instance, some may think that women don’t like sports (so don’t use sports analogies), they love shopping, they take longer to make decisions, or they are interested in security first when it comes to money. Those are all assumptions, tendencies and generalizations — not absolutes.

If the goal is to work with more women, assumptions often cause disconnects. The fact is that women and men are different — yes. The reality is that there is no script you can learn that will lead to working with more women in your business. To work with women, intelligent professionals, of course, need to start only with the assumption that they are not all alike. The one key to working with women is that working with and selling to women is nothing more than learning to understand people as individuals. Women are not a niche market; they are more than half of the population. A great question to ask is, ”Am I serving my current women clients well?”

And if you truly want to serve more women clients well, you may want to check out the article, How women decide in the September 2013 issue of the Harvard Business Review. Even better, if you are a financial advisor, a quick way to gain credibility in this market may be through a new and popular award program, The Women’s Choice Award for Financial Advisors. By obtaining this award (they have a simple process of surveying your female clients in order to obtain the award), you can share with potential female clients that your current clients are getting the individualized service that they want, need and like. That’s powerful formula for working with more individuals — women or men.
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