Fast-paced lifestyle, never-ending to-do lists and mountains of paperwork – sound familiar? Let’s face it, women are known for being excellent at multi-tasking, perhaps even better than men. And, as it turns out, it all comes down to optimism for female entrepreneurs when it comes to starting and growing a small business.
 |
| WBOs recognize the importance of the web, mobile and social media to engage, capture and nurture customer relationships. |
.
Web.com, an Internet marketing solutions company that caters to small businesses, teamed up with the National Association of Women Business Owners (NAWBO) to identify the keys to starting a successful small business. The results combine insight from more than 600 WBOs (women business owners) from around the nation.
What emerged is that WBOs are more optimistic for themselves and future entrepreneurs to succeed, and they are putting more of their dollars into online marketing and customer service to get their business where they want it to be.
Optimism is Essential
Nearly nine out of 10 WBOs are optimistic about their business’ economic outlook in 2014, a 12 percent increase over 2013. They are also more positive about their business succeeding this year than the last (74 percent), as well as the prospects for their business.
WBOs are not just more confident about their own businesses; they’re also more bullish about the prospects for female entrepreneurs who are just starting out. A vast majority of WBOs (92 percent) predict that more women will start their own business this year – an eight percentage point jump over 2013.
Passion Prevails
What does it take for these aspiring female entrepreneurs to thrive? According to the WBOs we surveyed, the top three traits a woman needs to successfully run her own business are:
1. Passion for the business idea
2. Willingness to fail before she succeeds
3. Long-term vision for the business
Online Marketing Investments are Rising
To attract new customers and make a lasting personal connection with customers, WBOs are putting more of their money into customer service and marketing. Online and mobile marketing, in particular, have risen in importance, with more WBOs planning to invest in a mobile presence (up 13 percentage points), as well as in their business’ social media presence (up 8 percentage points).
Overall, WBOs recognize the importance of the web, mobile and social media to engage, capture and nurture customer relationships, and they are increasing investments in these resources to drive growth. However, WBOs face unique challenges in social media, where they lack either the expertise or time to realize the full potential of this marketing channel. Female entrepreneurs who prioritize the web and social media in their marketing mix – or find a partner to help them gain this expertise – will reap the benefits of increased customer engagement and satisfaction, and, in turn, keep them optimistic!
By David L. Brown, Chairman, CEO and President of Web.com
