Financial Ads Don't Speak To Women

94% of women feel financial ads aren't targeted toward them.   

94%.

Read 'em and weep financial services companies.   

A recent study by Oxygen (as reported by Advertising Age) found 94% of women felt financial ads weren't targeted toward them.   83% said they couldn't relate to the scenarios depicted in the ads.

You think?  Really?   That ad with the older gentleman with the salt and pepper hair sitting in his living room with a live bull next to him wasn't a scenario you could relate to?   You didn't think that ad was speaking to you?

That ad with the guy standing by his grill bitching about his broker didn't speak to you?

Emotional footage of male golfers celebrating competitive victories? Not working for you? 

Using a stern-faced Law and Order actor as spokesman didn't scream to you that this was the right company for you?  Really?

The study, "Girls Just Wanna Have Funds," was headed by the network's VP-research, Karen Ramspacher.

Here's what she found

"There weren't any ads they could remember. We had to spark their memories and show them different ads," she said. "But when we talked about advertising in general, really what we found was there's no home runs in the financial-services category."

I'll tell you from my own research I looked at many financial services ads and found one (count 'em one) ad that did a tremendous job of speaking to women about what they actually care about.  (Sorry, you're going to have to wait for my upcoming book with Michele Miller to find out what it is)

Something else the study found was that women want to be spoken to in plain English, but they do not want you to speak down to them.

But women don't like to be belittled, either. "There's this whole theory about whether you need to speak to women in pink -- you don't need to," Ms. Ramspacher said. "You need to talk to them as equals but you also need to reduce the jargon. Financial categories are known for keeping their own money-speak. [Women] would prefer you lay out the deal in fine English. It's a little bit like you have something to hide if you're speaking in the category language."

Bottom line - there is a HUGE opportunity here for someone to get it right.   If you are a financial services company, create ads with scenarios she can relate to.   Ditch the techno-jargon.  Talk about what she cares about in her language.   Be the first to actually speak to and connect with 94% of women consumers.   

Comments

[Steve 4 Advertising]

It's so true when people write up ad copy they always tend to relate to him, he, guy. Really need to address this issue. Great Blog - thanks Steve.

[Byron Wells]

Wow what a great blog.. Thank you a pleasure to read and the knowledge learnt a tremedous help too!!

Thanks again - Byron
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I think it is just women feeling(s); women are the most targeted and if not, they should be.

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