Psychographic Profile - Column B: Jennifer
Zoe Financial is a company that matches consumers with independent financial advisors. Zoe Financial vets the potential advisors to ensure they have the necessary credentials and permissions to serve the clients, and then matches consumers with advisors based on consumer needs, not based on commission. The process begins by assessing the consumer's needs and situation. Then the digital program matches the consumer with potential advisors. The consumer then connects with the recommended advisors and selects the one that best fits his/her needs. The consumer enters the advisory relationship with the advisor. Zoe Financial personalizes the matching system between consumer and advisor, which makes creating a comprehensive profile essential. This is an example of using provided information to provide a consumer psychographic profile, based on "Jennifer" in the attached spreadsheet.
Jennifer — Overview
- Based on the provided psychographic profile, Jennifer is seeking a financial advisor to assist with financial stability. She is married and about to become a mother for the first time, which will change her financial needs. She is a lawyer and is aware of the importance of choosing the right advisor who is trustworthy and informed. She is seeking someone to help her feel stable financially as her family expands, and who may help her grow her wealth in the future. Advisor recommendations for Jennifer should be cognizant of Jennifer's values, concerns, spending habits, learning style, goals, and connection needs.
- Jennifer values transparency and authenticity. Her primary social media platform is Instagram. She enjoys connections with others and appreciates an authentic presence on social media. Her career as a lawyer has taught her about human intention and human nature, leading her to seek knowledge of how an advisor benefits from Jennifer's situation.
- Trust and credibility are important to Jennifer. She tends to avoid risk, and changing this would require trust in the person guiding the risk-taking. Jennifer often follows fear-based stories in the news, which likely contributes to concerns regarding trusting others. Additionally, she understands the need to use a credible provider, to avoid the risk of a negative or fraudulent experience.
- Jennifer values family. She is married and is having her first child. Her parents and spouse are some of her primary influences. Many of her financial goals revolve around providing for her family now and in the future.
- Personal connections are important to Jennifer, as her close friends are strong influences for her. She chooses her social circle based on connections rather than social status.
- Jennifer's career and overall sense of success are values for her. She wants to feel successful despite her lack of confidence. Feeling successful financially would contribute to her view of personal success in career.
- Jennifer values independence and personal control in her life, including her career and finances. She needs to feel a sense of control in decisions made as part of financial planning.
- Jennifer tends to avoid risk due to fear of negative outcomes or losing security. Her tendency to watch fear-based news likely contributes to this.
- Jennifer is prone to anxiety and over-thinking decisions, which can make her stagnant in goal achievement. She needs to feel confident and have back-up plans prior to taking any financial risks.
- Being behind in financial planning is a concern for Jennifer. She worries that waiting until age 36 to engage in financial planning has negatively impacted her potential goal achievement.
- Jennifer is well-educated, but her understanding of the scope of financial advisement is lacking. She does not realize having a financial advisor goes beyond simple finances, so she will need education in this area.
- Self-doubt plagues Jennifer, and she worries about making poor decisions. She needs to see a "road map" or "matrix" to feel confident in her decisions.
- Jennifer wants to keep up with others, as her social status is important to her. This may affect her spending habits in multiple areas.
- Putting others before herself at the expense of her own goals and needs can negatively affect her spending. She may neglect her financial saving goals in order to help others.
- Jennifer values a comfortable lifestyle for herself and her family. She will spend extra to ensure comfort but does not over-indulge on lifestyle comforts.
- Brand names and status symbols, such as Coach and Mercedes, are important to Jennifer. She will spend extra on items to ensure she has brands signifying success.
- Jennifer worries about unexpected drawbacks. Therefore, she wants to be financially prepared for emergencies or sudden changes in needs for her family.
- Jennifer values connections and authenticity in relationships and education, demonstrating an experiential learning style.
- Being open and transparent is important to Jennifer, so these qualities are necessary for her tin education about her finances and setting goals.
- Jennifer needs her advisor to be motivated and goal-oriented, thereby motivating Jennifer to map out her goals and learn ways to achieve these goals.
- Since Jennifer values independence and admires influencers and successful females, she needs to be empowered by her advisor. This can help her develop the confidence she needs to learn and achieve her goals.
- Jennifer is the primary provider for family, and this is a source of pressure for her. Her financial goals involve financial stability for her family to ensure the family will be provided for even during adversity.
- Concern related to life changes affect Jennifer's goals. She is motivated to seek a financial advisor now due to the need for financial stability when she is on maternity leave. This has led to a goal of being prepared for major life changes in the future as well.
- Jennifer is seeking a road map for her finances, starting with stability and planning for future growth.
- Jennifer admires successful female entrepreneurs. Therefore, connecting to a female advisor would benefit her.
- Since Jennifer values authenticity and influence, and advisor known as influential with a positive social media presence likely would connect well with her.
- Jennifer connects well to someone who is open to ideas and willing to give suggestions, as opposed to someone who would negate her ideas. She has a desire for transformation despite her anxiety, so an advisor offering ideas and empowering Jennifer's own ideas will be important.
- A financial advisor needs clear focus on Jennifer's needs, avoiding focus on the advisor's goals. This would gain trust as Jennifer would not be as concerned about underlying agendas.