"Are you using social media to promote your business as a female entrepreneur?"
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Contributing Author: Kalen Smith
The recession has created a number of challenges for women entrepreneurs. Rather than allow themselves to be victims of the economic challenges they face, these women are taking a number of steps to change the way they run their businesses.
The Center for Women’s Business Research Center (WBRC) is an institution that is dedicated to acquiring the data needed to further the success rate of women entrepreneurs. The center conducted a study to determine the impact the recession has had on both men and women entrepreneurs. One of the factors the organization studied was how recession influenced the way that entrepreneurs utilized social media.
More Women Are Using Social Media to Promote Their Businesses
Before the recession, only 4% of female entrepreneurs had a social media strategy in place. However, the WBRC has found that far more women are using social media to promote their business. The economic downturn forced many women to take a number of steps to cut costs and maximize the return on their investment.
More than half of all women have implemented social media to grow their business. In addition, about 56% said that they feel that social media is an essential aspect of growing their businesses.
It’s hardly surprising that social media emerged as a key marketing tool during the worst economic downturn since the Great Depression.
Social media is a powerful medium to reach customers. However, it is interesting that women entrepreneurs are much more likely to use social media as a marketing tool than their male counterparts.
A study from The Guardian Life Research Institute last year found that women entrepreneurs are approximately three times more likely to use social media than men. The report said that women are traditionally more community centric in the way they operate their businesses. Social media marketing is consistent with their personality style.
The use of social media may be giving women entrepreneurs a noticeable advantage.
Over the past few years, businesses run by women have been growing faster than those operated by men. Although this could be due to a variety of factors, some experts have credited the use of social media as one of the key factors for this growth.
Social media is one of the most powerful tools at any entrepreneur’s disposal.
As businesses are forced to cut their existing advertising budgets, they will probably shift more of their energies towards promoting their companies through social media. Both men and women business owners are expected to take advantage of social media even after the economy has healed.
About the Contributing Author:
Kalen Smith earned a Masters in Business Administration from Clark University in 2010. He is now an entrepreneur, Internet marketer and freelance writer. He also writes about company house formations for Blue Sky Formations.
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