Doing Business with Women Working women have a definite impact on the economy. First of all, they are the primary decision-makers in their households. Seventy- five percent of the time they choose what type of goods and services go into their homes, from clothing to cable TV to insurance policies. Not only that, but they're one of the fastest growing segments of small business today. As of 1999, there were 9.1 million businesses owned by women in the U.S., employing more than 27.5 million people and generating more than $3.6 trillion in sales, according to the research institute, the National Foundation of Women Business Owners (NFWBO). So chances are if you're out doing business, you're doing business with a woman entrepreneur. And there are some things to know that can promote success in those arrangements. For example, when they're purchasing products or making other decisions, women business owners are more likely than men entrepreneurs to seek advice from associates and advisers, sometimes lengthening the process. They also place more emphasis on quality, service and the reputation of the vendor. If the numbers above aren't reason enough to make you change your business approach to women, Sharon G. Hadary, executive director of the NFWBO, based in Washington D.C., has one more: "Women are incredibly loyal," she explains. "They're willing to put all their resources in one place, so it's a wonderful opportunity for banks or businesses to cross-sell their products." As part of the NFWBO's initiative to provide knowledge about women business owners and their enterprises worldwide, they've developed more than just numbers on their economic impact. They've also offered some insight into the unique characteristics of women business owners. "Winning Strategies for Doing Business with Women Business Owners" * Women want to know that a company respects them as businesswomen and understands their point of view. Having women visible in leadership positions Tài liệu tham khảo - www.marketingchienluoc.com demonstrates that your company values and recognizes women as business leaders. * Build relationships with women business owners through support of women business owner issues and programs. * Demonstrate you understand the market by the way you present your sales messages, the involvement of your representatives in the businesswomen's community, in the way you move through the sales process, and in the support your company provides after the sale. * Women want to know the facts and to have their questions taken seriously. * Women business owners want to build a relationship with your sales representative and gather information. The result is a longer sales process. It is worth the time, however, because women business owners are loyal, long-term customers. * Use reference sales and referrals. Women business owners are more likely than men entrepreneurs to ask for advice from outside experts and fellow business owners. An endorsement from someone they trust is a key factor in selecting a service provider. * Use the Internet to provide information while providing easy ways to contact a company representative in person. While women business owners are more likely to purchase online than other businesswomen, many of them still prefer to finalize the transaction in more personal ways. * Cross-sell business and personal products/services. Women business owners are a large potential market across the corporation for business-to-business as well as consumer marketing. NFWBO's research documents that women entrepreneurs often use the same product and service providers in their personal lives as in their business. * "Deliver on the promise" throughout the whole transaction chain, including service, training, delivery and billing. NFWBO research shows that after-sale service and support are more important to women entrepreneurs than to men entrepreneurs. Tài liệu tham khảo - www.marketingchienluoc.com * If you want women business owners to buy from your company, your company should buy from them. Whether at the corporate level or at the branch office level, do business with women business owners. (C) Copyright 2001 Janet Bigham Bernstel. Syndicated by ParadigmTSA Tài liệu tham khảo - www.marketingchienluoc.com . unique characteristics of women business owners. "Winning Strategies for Doing Business with Women Business Owners" * Women want to know that a. National Foundation of Women Business Owners (NFWBO). So chances are if you're out doing business, you're doing business with a woman entrepreneur.