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Banks and Women

March 3, 2011

At the height of the financial crisis I was at a not-for–profit board meeting with the President of a regional bank. I sought him out on the pretense of asking for advice and said, “What should I do? I bought a new toaster at Target and they gave me a bank.”

In the subsequent months, the financial services industry has rebounded but in marketing to women, it appears they still haven’t turned the corner especially with Boomer women.

Vibrant Nation and Buchanan Marketing recently reported that among Boomer women 50+:

  • 97% believe they have to take control of their own financial future
  • Three-of-four believe financial security starts with financial independence
  • Over half are fearful about their financial future
  • Only one-in-ten are secure about their financial future

“It’s time for the financial world to start marketing to women—Boomer women in particular. And at the same time, it’s time for women to take a more active and aggressive role in their retirement planning,” said Gordon Plutsky, director of marketing and research at King Fish Media.

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