The Business Challenge
- Entering 2018, TIAA wanted to serve women in new, meaningful ways that would bring value to their lives and set TIAA apart from other financial services companies. TIAA had a long and proud history of advancing the financial health of women. In contrast to other financial services companies whose audiences skewed male, TIAA's customer base was comprised of more women - with women representing 60% of TIAA's customers.
- As divorce rates continued to climb, TIAA's financial advisors knew well the impact of divorce on women's finances. Women were more likely to take the financial hit. As one sobering illustration, 27% of 50+ divorced women live in poverty, compared to 11% of divorced men of the same age.*
1 in 4 divorced women over age 50 live in poverty.
Research & Insights
- A competitive analysis revealed that the topic of divorce presented a rare white space opportunity. The financial services market had barely tapped into the implications of divorce. Of the dozens of major companies, only Fidelity and Wells Fargo had created any divorce content of note, but it was limited.
- Further, a Google key word analysis and social listening found that the vast majority of divorce advice available to women emanated from divorce attorneys - with most of it promotional and focused solely on the legal process. There was a major gap to fill with content that would truly add value and support women going through divorce.