Market Focus?Women Investors (842 words)
Professional women with Web savvy and an interest in personal investment. Should be a rich marketing source, right?
Well, yes. But you'll have to find them first. One look at general investment lists suggests why women investors are so elusive. The Accredited Investors list is 90-percent male; one of the selects of the Active Investors Masterfile is "wives of executives."
Clearly this is considered a man's domain. Lee Kroll, president, Kroll Direct Marketing, says: "On [investment-related] subscriber files women generally account for approximately 10 percent of names."
An Untapped Resource
Buffalo, NY-based Junction List Services rents one of the few terrestrial mail lists to target the group, "Women, Money, Stocks & Bonds." According to Concetta Malasek, senior vice president of sales and marketing at Junction List Services, the average woman in this file is 42 years old and makes $45,000 a year. Since 60 percent of them are married, Malasek guesses that the average woman on the list "is the female in the house handling the finances, which is probably more common these days."
Malasek acknowledges that the list has not traditionally been "especially popular."
Jackie Renwick, account executive at Walter Karl List Co., handles the Institute for Econometric Research Masterfile and concurs that this rich resource has been largely untapped.
"No mailers have selected the female segment in quite a few years," she admits.
But the times, they are a-changin'. Twenty five percent of all American women earned college degrees in 1998. And with 51 percent of marriages ending in divorce, women who have never had formal financial training are finding themselves at the head of a household and planning for the future.
So Where Are They?
Lists of people interested in investing come from three primary sources, says Kroll: subscription-based newsletters geared toward those interested in buying stocks and bonds; magazines and other publications with the same audience; and compiled investor lists, which are usually drawn from the lifestyle select of surveys.