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Industry Spotlight > Women in Wealth

Boomer women value word-of-mouth

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Boomer women place a higher value on word-of-mouth advertising than their younger counterparts, according to a recent study by Prevention and Keller Fay Group. The study analyzed the conversations of over 14,000 women between ages 18 and 62 over the course of a year to pinpoint buying trends in 15 purchasing categories, including financial services.

Among the findings:

  • Sixty-eight percent of boomer women rate what they hear in conversation as very credible, compared with 58 percent of younger women.
  • Fifty-six percent of boomer women will pass something they hear on to someone else, compared with 51 percent of younger women.
  • Thirty-nine percent of boomer women will seek additional information, compared with 34 percent of younger women.
  • Fifty-five percent of boomer women who intend to make a purchase based on what they hear, compared with 50 percent of younger women.

The study found boomer women were more likely to make a purchase than younger women in almost every category. In financial services, 48 percent of boomer women had an intent to purchase compared with 42 percent of younger women. The only category where younger women showed a higher interest in making a purchase? Media and entertainment.