for the Digiday Programmatic Marketing Summit, May 6-8 in Palm Springs.
‘Women are not a target market’: Confessions of a former finance marketer
Retail banks are missing out on $15 billion in global revenue thanks to a gender gap in access to checking and savings accounts.
A BNY Mellon report published last week in collaboration with the UN, cites flaws in design and marketing that make financial products less accessible to women than they are to men. For example, women tend to be in the workforce for a shorter period of time but also tend to live longer than men, so insurance or retirement savings products and the marketing for them may need a refresh.
The report identifies gender gaps on other products; financial institutions are missing out on another $7 billion in credit card revenue, $14 billion in personal loans and $4 billion in housing, the report says.
There’s no shortage of headlines and reports about how companies fall short in marketing to women: just look here, here and here. In this installment of Confessions, in which we trade anonymity in exchange for honesty, we spoke with a marketing expert who spent a decade in large financial institutions like Citi and Bank of America and now works at a fintech company, who says overarching statements about marketing “problems” are misguided and unless research comes out specifying what about the marketing isn’t working, the problem is that women are treated as a niche.
More in Marketing
Possible Day 2: Breaking down agentic’s impact on marketing, including multicultural
Day 2’s interviews featured Molly Battin of The Home Depot, Kirk McDonald of Sundial Media Group, and Omnicom Media’s Joanna O’Connell.
Meta opens its ad ecosystem to third-party AI tools
The platform is introducing Meta ads AI connectors, as part of its broader AI push to make campaign management easier.
The promise and threat of AI, as understood through the eyes of Possible
Nielsen’s Peter Naylor, Multilocal’s Fern Potter and Crossmedia’s Kamran Asghar shared their learnings and teachings coming out of the Possible conference in Miami.