Don’t pinkwash your fintech marketing: why you need to attract women in a more considered way
Lina Lukosiunaite, CRM manager at Block Earner, writes that fintechs need to market to women in a genuine way, not just with a dash of pink.
These days, it’s probably fair to say that most fintechs take either a gender-neutral or male-oriented approach to their marketing.
But female customer behaviours, needs and priorities are different to men’s. You only have to look at the results of a gender-neutral fintech sales funnel to see why. According to the Financial Alliance for Women, women are 27.6 per cent less likely to access fintech products and services than men. And so here begins the cycle — as these fintech companies target male customers who they believe are more likely to convert sales, fintechs are stuck in the habit of leaving women out of their algorithms entirely.
To turn the dial and work towards that 70 per cent revenue increase, we need to start by understanding the nuances of women as a customer base. It’s a fact that women are equally as likely as men to be early adopters, if marketing speaks to them — so time to ditch the urban male vibe for something that speaks to your greatest lost market.
Recognising diversity across the female demographic
As brands expand their outreach to women, they often consider them to be a homogeneous group, expecting one message to resonate with women all around the world. There’s a stark difference between the early-20s young professional from Melbourne and the conservative single mother in Perth, and they’re likely motivated to use your service for different reasons.
