A recent survey of women’s attitude toward finance by the cable television network Oxygen, “Girls Just Want to Have Funds,” found that 44% of women think that financial professionals don’t offer them enough respect. And 94% of the 2,100 women surveyed said that financial services advertisements are not targeted at women and are not fund to watch, and of the few ads that are aimed at women, one-quarter indicated the ads “talk down” to them. Another 83% said they cannot relate to financial advertisements.
Yet 62% of the women surveyed said that they are the financial head of their household and another 30% said they contribute to financial decisions in their home. Sixty-six percent said they consider themselves more financially savvy than they are given credit for.
“We’ve always known that women hold the purse strings as far as purchasing is concerned,” said Geraldine Laybourne, chairman and CEO of Oxygen Media. “This study shows that they are actually the financial head of the household. This creates a huge opportunity for financial advertisers.”
The survey also found that both women and men manage the same number of financial accounts, such as bank accounts, mortgages, insurance policies, credit cards and investments.
The study concluded that financial services companies are missing the boat when it comes to reaching this vital demographic and that their advertisements should speak to women as equals to men, use humor and use relatable scenarios. In addition, they should address the various concerns of different age groups.