Women-focused “clubs” at banks and credit unions have come a long way from the days of pink gloves and bus trips. Today’s women expect real value for their time and attention. Offer them access, education and meaningful connections that support both their financial lives and careers.
If you’re starting—or re-starting—a women’s affinity group for your financial brand, smarter strategies can turn it from a feel-good program into something valuable for members and your institution.
Here’s how to build win-win programming.
1. Start with research
Talk with existing club members, female advisory board and board members to get their perceptions and their wish list. Listen to employees, too. Many of them have their fingers on the pulse of customers because they’re speaking to them daily. Listen so you understand what they want and what’s missing from their relationship circles.
Use secondary research to supplement your primary research efforts. Don’t forget to evaluate competitors’ efforts at attracting this same audience: what are they doing well, and what can you offer that’s different and well-aligned with your own brand?
2. Establish a plan
Clearly define your audience. You can’t be all things to all women. So who do you want to attract and serve?
For example, should your group be based on life stage, small business owners, young professionals, net worth or someone else?
Use what you learned in the research phase to determine how to best reach your desired audience.
Plan logistics, timing and budget. Identify internal stakeholders who can help. Set a regular schedule so people know what to expect—and when.
Decide whether membership is a perk that goes along with a certain account, whether to charge a fee or if you want to build prestige and mystique with an “invite only” approach.
3. Create programming and content
Refer back to your research as you start brainstorming for content offerings. Here are some idea starters.
Offer access: The women senior leaders in your bank or credit union are prominent people. Having them present at events and mingling with attendees can be powerful. It signals to guests that they’re important and gives them a chance to visit one-on-one, and hear success stories and business journeys from the top brass. It can be impressive and memorable.
Roundtables with lenders, treasury management experts and wealth advisers are other ways to help people make valuable connections that are deep and wide within your institution.
Create a recognizable, invite-worthy event series (e.g., breakfasts or salon-style evenings). Events don’t have to be at one of your branches. You can offer behind-the-scenes tours of women-owned companies and blend education, storytelling and high-value networking. Just make sure they meet your audience needs and build your brand.
Choose select partnerships: Active partnerships with another highly-targeted women’s group or event like GO Red for Women, the Junior League or your local community foundation raises the visibility for both groups if they can partner on an event or a cause.
Know what they need to get them there:
- If your audience is young moms, provide child care during your event so they can attend guilt-free.
- If you want to attract high net worth seniors, provide transportation and schedule for early afternoon instead of evening.
- If small business owners are the ones you want to join, be sure you patronize their businesses for catering, flowers, swag, venues and the other program needs.
Other ideas for programming and content:
- Mentorship opportunities
- Off-hours bank access
- Community service days with the bank and the women’s group
- Financial wellness workshops
They don’t all have to be exclusively your event. The Kansas Treasurer’s Office conducts a yearly “Women and Money” series sponsored by several banks and credit unions. If your state has such programming, you could do a special group ticket event for your members and host a private social afterward.
4. Keep the fires burning
Many groups lose momentum because they launch with energy but no rhythm. Arm your staff with collateral materials and talking points so they can promote this offering to customers and prospects who come into a branch or call.
Plan your calendar for a full year so you can promote membership all year long. Predictability helps participation and makes the group easier for staff to promote.
Ensure your socials, your website and other communications create excitement and FOMO.
Gloves off!
A women’s affinity group in your bank or credit union should be more than a nice idea or an occasional event. When it’s built on research and real needs, it becomes far more than a marketing initiative. It’s a long-term brand builder that also delivers business opportunities. By listening well, planning thoughtfully and delivering programs that are genuinely valuable, you can create a community women are excited to join, talk about and keep coming back to.
For more on best practices for bank and credit union events that drive business, read our article: From cost centers to growth engine: making bank events work for your brand.
Image credits: gloves on a chair by Kovina Duric on Unsplash
