Marketing To Us Bag Ladies

By Guest Blogger, Mary Schmidt, Marketing Troubleshooter

It's rumored that Oprah has a bag of cash (a piddly million or so) stashed somewhere, since she still hears her "inner bag lady." My (very independent) friends and I can relate. We don't want to be eating cat food when we're 85 (or even 65.) 

Men don't seem to have - ur - "inner bag men."  I think that's because we women are biologically hard-wired to keep things going no matter what, no matter how bad.  While Oog was out stalking the saber tooth and hunting the mammoth, we were back at the cave keeping the fires burning and the babies living.  (And, we did our own fair share of hunting too - sometimes Oog didn't come back.)   

Which brings me to The Soccer Mom Myth written by my friends Holly Buchanan and Michele Miller - and  their great point re selling financial services. 

"...You are talking to a sixty-five-year-old woman who was recently widowed.  She has no way to earn income. Her entire well-being depends on how much money she can save.  Typical copy aimed at this woman says things like,  Don't let a wrong investment or improper planning set you back.  Request our free report "Controlling Risk on Your Way to Retirement" to to learn: how different investments can affect your portfolio; the importance of finding the right asset allocations; about investment strategies available to you."

Here are the questions she's actually asking: Will I be eating cat food when I'm eighty-five?...

Aside from the fact that copy is boring to anyone - male or female -  it doesn't answer the real questions. (Holly and Michele give a complete list, down to "If I die, who will take care of my pet?" which should resonate with many of our extremely single readers.)

However, let's not confuse concern with timidity or inability. We women are a pretty tough lot, even if "all" we've ever done is be a housewife (You try dealing with a flooded basement and projectile vomiting on the same day).  If Oprah can be concerned about a bag lady future, any of us can be. 

And, we've got a lot of the same questions - about everything from technology to cars to financial services.  Answer 'em well and you'll get our business. 

 

Comments

[Mary Schmidt]

And then there was the insurance man who cancelled my auto coverage and refused to write a separate policy when I got divorced, because, "you're not married anymore...and women aren't as good a drivers as men." This is 1987, mind you. Ah, the "good old days."

(I do enjoy watching wild-eyed Dennis Hopper do those retirement commercials - but how effective are they - if I can't remember the company name? Hmmm....)

[Yvonne DiVita]

Mary, Holly and Michele capture it well... the financial services industry reps are still crawling out of the 20th century, where they sat around with the good old boys and planned out their fishing days - without once wondering if the Mrs. wanted to tag along.

I remember, back when I was married with children, when we (my ex and I) had an appointment with our insurance man about getting me life insurance and my former father-in-law was just appalled!

Why do you need life insurance on her? he asked. She's just a woman.

What if she dies? my ex said. Who will watch the kids and take care of the house? (yes, I was a housewife)

If she dies, my former father-in-law said, I'll watch the kids and vacuum the rugs. How hard is that?

Well, our insurance man (we didn't call them financial advisors back then) was more progressive. He talked TO me and listened TO me and took into account that I was as valuable as my husband.

My father-in-law, well...he was still getting over the realization that I was allowed to schedule car maintenance without asking my husband's permission.