I have a confession……I’m a woman entrepreneur and I’m addicted to social media!!!! Hearing this confession at first may scare you a little but it’s actually not as bad as it sounds. For the past 2 years I have been researching the movement of social media and its impact on female owned businesses. I guess you are wondering why I am addicted to this movement. About 9 years ago I was first introduced to social networking. This was back when Blackplanet, MySpace and Facebook were first introduced to the world. I was infatuated with the way Facebook evolved over time. The Facebook platform went from being used by college students, where you were required to have a college email to today where almost every individual or business has a profile. What really amazed me was the way the platform was being utilized by business owners. I watched several brands expand drastically just from utilizing Facebook and other social media outlets. As I watched the growth over time I had a light bulb moment (when that grand idea comes to your mind) and thought to myself of the correlation between social media and women-owned business growth.
Women-owned businesses are growing tremendous rate yearly (More than 9.1 million firms are owned by women, employing nearly 7.9 million people, and generating $1.4 trillion in sales as of 2014) and new social media outlets are being introduced yearly. I would like to assume that social media may have helped this increase and vice versa (these are only my assumptions). Well surprisingly I assumed wrong. According to the National Women Business Association there is an 18% gap between women business owners who say social media is important to grow their business and how many women ACTUALLY use social media for business purposes. Only half of women business owners are confident in their ability to build a social media presence for their business. This gap is a huge missed opportunity for women business owners.
How can this gap be filled? In my opinion women business owners need take a look at the characteristics they have that are helping them dominate in business and leverage those characteristics via social media. Let’s face it, we are more outgoing, friendlier and creative than men (my husband would definitely disagree with this lol). Leveraging these characteristics can help women-owned businesses create strategic partnerships, free marketing and a strong brand which all equals an increase in revenue and profits.
How do you feel about this topic? I want to share more of my findings and insights about women-owned businesses and the impact