As the world increasingly turns to social media for solutions, information and expression, women are turning to BLOGS according to "The 2009 Women in Social Media Study".  The study reveals "why blogs":

• 64% of women are nearly twice as likely to use blogs than social networking sites as a source of information
• 43% for advice and recommendations
• 55% for opinion-sharing
• 75% are 50 percent more likely to turn to social networking sites as a means of keeping in touch with friends and family

Women are turning in even greater numbers to blogs (55%), social networks (75%) and online status updating (20%) as primary sources of community interaction, entertainment and information.

Of the 42 million women engaged in social media weekly:

• 55% of women participate in some form of blogging activity
• 75% participate in social networks such as Facebook or MySpace
• 20% use Twitter
• 45% decided to purchase an item after reading about it on a blog

Savvy Asset Management and Wealth Management firms are focused on this demographic and view women as an incredibly powerful segment from both a financial and influence standpoint.  They recognize that:

• Women age 50 and older control net worth of $19 trillion and own more than three-fourths of the nation's financial wealth
• Over the next decade, women will control two thirds of consumer wealth in the United States and be the beneficiaries of the largest transference of wealth in our country's history. Estimates range from $12 to $40 trillion
• Many Boomer women will experience a double inheritance windfall, from both parents and husband.

Firms we work with are leveraging these new technologies to effectively access this demographic.  Engagement through blogs, the preferred medium of this group, designed to inform and answer questions regarding financial and other forms of life issues is one way of accessing this powerful group.

However, firms are finding new technologies alone don't lead to new customers, solidification of their firms' relationship with existing clients and enhanced client loyalty. True enhanced client experiences and enhanced loyalty occurs when face-to-face (F2F) meetings are added to the mix.