Sell to women. We know that we have to do it; women make up more than half of the population, account for the fastest growing segment of business owners and in the next three decades are going to be inheriting, by conservative industry estimates, some $50 trillion. But this good news doesn’t make closing the sale with women easy.

You, like many of your colleagues, may have a nagging suspicion that you’re doing something wrong when you contact a female prospect or client and try to advise her on what financial and insurance products and services she needs. And your suspicion may just be right.

Well, that’s where Delia Passi Smalter comes in. As former publisher of Working Woman magazine, she now uses her expertise as a speaker and sales trainer on marketing and selling to women to help Fortune 500 companies, including Prudential Financial and the MONY Group, learn how to properly serve this important market. Here she shares some of her insights on how to effectively communicate with women throughout the sales process:

Let women take the lead. Women are information gatherers; they do not want you to “fix” their situation by providing quick solutions. Instead women want to make educated decisions, and they do that by asking a lot of questions. Taking the time to answer her questions in detail will provide her with the comfort level she seeks to make purchasing decisions.

Keep up with her. Women communicate differently than men when they are trying to get their message across. You may notice that women will tell you a story or multiple stories in order to feel comfortable that they’ve relayed their message. To some they may seem scattered in their thinking, when in actuality their thought process usually takes them further into the decision process than you are aware—so while you’re thinking they can’t stay focused, they’re wondering why you can’t keep up!

Don’t push the close. Women will purchase when they’re satisfied they are making the best decision, and that means multiple factors come into play. A woman will ask herself: How will this decision affect my family? Is the advisor to be trusted? What is his/her reputation? What is the company’s reputation? Can I trust that this product will serve all my needs? Remember, you may not be able to close on the first meeting, so be sure to follow up.

Don’t close the relationship; open it. Women value relationships and will be prone to trust you if they feel you are equally interested in creating a long-term relationship with them as opposed to just completing a transaction. That’s easier said than done. For example, women consider themselves to be treated “badly” by financial service companies, according to a recent Money magazine and Oppenheimer survey. Your efforts will be rewarded by her dollars, loyalty and referrals if she finds you to be a trusted advisor who takes her success and well-being to heart.

These tips are just a beginning. While learning effective communication and selling techniques that work with women is a good start, it takes more to become successful in this market. The women’s market is so broad that you’ll need to find a niche--a subset of women--to focus on. For an in-depth look at defining your segment of the women’s market, visit AdvisorToday.com to read: “Finding Your Niche in the Women’s Market.”

You can contact Delia Passi Smalter at info@medeliacom.com or visit her website at www.medeliacom.com to sign up for her Marketing to Women electronic newsletter.

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