Engaging Women Small Business Owners
Small businesses drive the American economy, and the number of women-owned small businesses is growing. Read on for more information about how to connect with women small business owners by understanding how they see themselves, their goals, challenges, and motivations for partnering with larger companies.
Nearly all private businesses in the U.S. are small businesses and 1.2 million of those companies are women-owned. The number of women-owned small businesses is growing, and women small business owners are highly engaged in the day-to-day decisions about their business. As a result, women small business owners make up an important segment with whom marketers and larger businesses should engage and build partnerships. In our recent Small Business Owners Study we look at small business owner’s identity, future outlook, operations, and relationship with larger companies.
Key Insight #1
Women small business owners self-identify as purposeful individuals who think about their impact on the world and value community involvement. They possess a strong desire to have their business connect to other women in their community.
Implication:
Women small business owners see themselves as perseverant, conscientious, and community-oriented, so focus in on those attributes in your communication with the segment.
Key Insight #2
Women small business owners are feeling less confident than men small business owners about the current health of their business. As a result of a more tepid business outlook, they are less likely to aim for expansion.
Implication:
Recognize that women small business owners haven’t had the easiest year and focus communications on how your company may be able to lend a hand.
Key Insight #3
Women small business owners are hands-on leaders that play a significant— if not complete role— when making operational decisions including benefits, finance, technology, etc.
Implication:
Address marketing communication directly to women small business owners. Despite their busy and varied schedules, owners are usually at the heart of their company’s day-to-day decisions.
Key Insight #4
Women small business owners are looking for product innovation partnerships with large companies.
Implication:
Provide women small business owners with the tools and knowledge they need to innovate.
Contact us to learn how you can gain access to these diverse consumer insights and much more in our Cultural Intelligence Platform.