Reach female entrepreneurs – and your brand’s in business

With the rise of wealth and power among today’s women, it’s time for brands to take notice of an important, influential new audience – female entrepreneurs, according to a recent article.

Women tycoons now lead one in three businesses in the US, article author Geri Stengel (of Forbes) says. And not only are these companies “high-growth” – but female moguls are also respected for loyalty and “sharing with others which brands (she) loves and doesn’t love.” This is especially important since word-of-mouth communication is a key factor in women’s purchasing decisions.

How can brands get a better understanding of this target audience? Faith Popcorn, futurist and author of “EVEolution: The Eight Truths of Marketing to Women”, offers her strategic insights on female entrepreneurs:

1. She has two jobs – business and family. Rather than asking women company-owners, with all of her life’s demands, to approach your brand – come to her. And always take her work and family life into account when having a conversation with her.

2. She’s big on accountability. Businesswomen want one go-to, or someone to hold accountable for what goes wrong. That said, if any errors occur with your brand, be sure to “show up” and fix it.

3. She shares her common interests. Female entrepreneurs are often involved in business empowerment groups – in the US, the Women President’s Organisation or Springboard, for example. Australia’s organisations might include Australian Businesswomen’s Network or She Business. Reach her here.

4. She wants you to support women. Brands should support causes close to her heart – and act on them. Take feminine hygiene brand, Always, for example: They recently teamed with not-for-profits to distribute sanitary pads to African women and girls, so they wouldn’t have to miss school.

Finally, keep in mind that nearly 80 percent of females will trial a brand that supports women-owned businesses, according to the Women’s Business Enterprise National council. Therefore, marketing to women entrepreneurs can reach even more female audiences, in the process.

So, brands – don’t wait. Start talking to your female entrepreneur today.

To find out more, contact Venus Comms on (03) 9510 7000.