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Carol Orsborn, guest blogger and co-founder of FH Boom, is pleased to share with you an excerpt from: BOOM: Marketing to the Ultimate Power Consumer—the Baby Boomer Woman (Amacom Books, Fall of 2006, by Mary Brown and Carol Orsborn, Ph.D).
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« FH Boom Daily Digest- July 18, 2008 | Main | FH Boom Daily Digest- July 21, 2008 »

Reality Check(book)

On the very day IndyMac went belly up, stock prices went down (again) and a recent study on how gloomy boomers are got yet more ink, I was on another planet.

For the rest of today's blog, continue at the Boomer Blog

That planet was the AIG Advisor Group conference titled “Why Women Are Winning”, held July 13-15 at the Ritz-Carlton in Chicago. And boy are these women ever! (Winning, that is.)

Need I even note that the vast majority of women attending were boomers (by eye-count, neatly split into two approximately equal sized packets of leading and trailing edge.) They were a handsome bunch. Elegantly dressed. Great shoes and bags, Bright eyes and animated conversation.

I was there to share our intel on how financial advisers can best reach, influence and connect with the female boomer client. (I was representing Prudential Annuities, who have come out strong recognizing the power and potential of the boomer woman’s pocketbook.)

Nowhere was the power of that boomer woman financial clout more evident than in the Ritz-Carlton ballroom, itself. Any marketer of luxury products would have been chopping her lips to be in the presence of such wealth, such optimism and such influence.

Here’s a snapshot. On the stage, framed by extravagant gilded moldings and chandeliers, a consultant who owns her own company, was advising the advisors in the audience how to set their practices up so that they could make the kind of millions she does—and still manage to take a three-month break every year. (The answer, by the way, is put together a great team, delegate—and spend the most amount of your time with the clients who make you the most amount of money.)

Over lunch, overhearing a conversation between two advisors: How one doubled her income last year; how the other just bought the car of her dreams.

Of utmost interest to me: what happened at the breaks. Unlike other groups I’ve spoken before, they did not rush to their cell phones and Blackberries, putting out fires. Even at a time like this, when many of their clients must be in melt-down mode, these advisers appeared to have things under control. They have staffs who can mind the store—well-oiled teams and systems to take care of frayed psyches.

But what of their own frayed psyches? Surely, they must be taking hits on the financial market.
Eavesdropping again, here, there and everywhere…and never a down note to be found.

Are these women in denial?

Not on your life. These women are plucky. Many have seized the opportunity to start their own businesses and take charge of their own destinies. Being women, as well as business executives, they’ve negotiated every manner of trial and challenge. If you could package attitude, there would be long lines for such offerings as “I will meet and I will exceed any setbacks that come my way” and “bad news: you’ve met your match.”

To top it off, each one of these women is in the center of her own circle of influence. Many have other successful women in their portfolios, both providing and benefiting from the “can do” attitude that was the underlying tone of this gathering.

You can’t bottle attitude, unfortunately. But marketers of luxury items should feel reassured that even in the midst of a bear market, there’s still plenty of room for the upbeat message targeted to the affluent boomer woman.

Carol Orsborn

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