Wondering how to grow a woman-owned business? While being a female entrepreneur is certainly more challenging than being a male entrepreneur, there are marketing angles you can take advantage of that men don’t have access to.
There is a large community of other female business owners wondering how to grow a woman-owned business, and a large consumer group of women looking to support those businesses. Starting and running a business used to be a man’s world, back when only men were working and controlling the finances. But female entrepreneurs realized there were market gaps for women looking for products to help their specific female needs that men wouldn’t think to start a business for. Fortune 500 companies and small businesses dedicated solely to women’s needs have opened up to serve this underserved community.
Here are tips on how to grow your woman-owned business, whether or not your product targets only women or all genders.
Label Your Products
YOUR BUSINESS IS WOMAN OWNED! Let your consumers know! Putting “woman-owned business” on your packaging could sway customers into supporting you with a purchase. If you aren’t sure if this is beneficial for your brand, you can also mention it on your website. Adding a bio page and startup story helps build a relationship with your customers.
Support Women’s Causes
Your woman-owned business may be a female-centric product, such as lingerie subscriptions or bra fittings or pregnancy products. Bra company ThirdLove partnered with I Support the Girls to donate bras to women in need, donating $10M in bras in 2018 alone. BootayBag, an underwear subscription company for women, donates one pair of underwear for every pair purchased to a women’s shelter. How can your product help support other women in need?
Market Towards Women
Women support women. Even if your product or service is targeting both genders, you can encourage women to support your business by stating the fact that you are a female business owner. More than 11.6 million firms are owned by women, employing nearly 9 million people, and generating $1.7 trillion in sales as of 2017, and yet women still face more challenges in the business world than men do. By marketing to empower women and using the gender differences to your advantage, you can inspire confidence in your customers, creating loyalty and building your brand.
Reach Out to Press
News sources love promoting female business owners and the positive impact their companies have on the community, society, the environment, the business world, and everything in between. By doing interviews with magazines, especially online with direct links to shop your website, you are letting consumers get to know your story which builds a relationship. Many women are looking for a mentor, and your advice in an article could help them more than you know. You don’t have to be a unicorn startup to make a difference as a female business owner. Inspiring one person is enough to make a difference.
Join a Network
There are numerous organizations designed to help women lift other women up in their industry. Women in business can check out tools for women in finance , or find a specific entrepreneur group. No matter what level of experience you are at, you can help others and be helped by others in a group of like-minded individuals.
Other inspiring female owned businesses:
What’s your favorite woman-owned company? What would you advise on how to grow a woman-owned business?