The NAWBO Woman Business Owner of the Year Award celebrates a NAWBO entrepreneur who stands out for her excellence in strategy, operations, financial management, innovation, problem-solving, resilience and community impact. It highlights entrepreneurial leadership and commitment to community involvement and support.
Congratulations to the entire Top 10 Class:
In America, more than 11,500 Baby Boomers turn 65 every day and will continue to do so from now through 2027. This is more than any time in history. And while 65 has been discussed as the ‘magic age’ of retirement (due mostly to Medicare coverage), some will wait until age 67 due to full benefits or retirement packages.
With nearly half of Baby Boomers already in retirement and the other half nearly there, if the majority of your revenue comes from those between the ages of 55 and 75, it’s time to expand your customer engagement.
It’s typical to see a generation span 15 to 20 years, informed by many connective factors such as historical events, pop culture and values. The years that define generations are also largely confirmed by researchers, though should be treated as guidelines over hard-and-fast rules.
When considering your prospects, one starting point in the research should be where they fall in these defined generations:
With nearly five generations in the workforce, there are significant differences in buying powers, communication preferences and channels used by each group to engage with brands. In this vein, strategies can’t be one-size-fits-all.
By first understanding who your customers are (or who they should be to grow or sustain your business) you can then develop marketing and communication strategies that resonate with those groups and support business success.
While the ‘peak’ age of retirement has been discussed as between 65 and 67, the reality is, the majority of Baby Boomers who fall into this range do not have pensions. Why does this matter? Because if you are projecting business revenues for years to come based on Baby Boomers, the revenue you were once accustomed to may not be forthcoming as customers in this generation have finite income and stricter budgets. So, who has the disposable income you’re looking for?
Gen X and Millennials.
While the smallest generation in size, Gen X has the highest spending power with an average disposable annual income of $108,615. They have also been known to have the most debt. Millennials, the largest generation, net $89,641 in disposable income each year. And although the many of them are finishing high school or post-secondary education, Gen Z’s buying power should not be discounted. At nearly $50k of disposable income a year, this younger generation is mindful about what they spend money on but will spend it when they feel the time is right (or is proved trusted by their network).
If you’re not thinking outside your current audience segment, you may be leaving money on the table.
While you may have products or services that benefit multiple generations, the ways in which you make that known is critical for future sales and engagement. A Millennial may not understand that your services benefit her in a way that is different than, but equally as valuable to, your Baby Boomer or Gen X customers.
Tapping into the pain points, values and communication styles of each generation differentiates your brand. We need to meet our customers where they are – not where we are comfortable.
To start, consider the following traits across the top four generations. How might this impact or change your marketing strategies moving forward?
| Baby Boomers | Gen X | Gen Y | Gen Z | |
|---|---|---|---|---|
| What do they want? | Quality, loyalty | Ease of access, no gimmicks | Access to technology, convenience | Understanding of brand values |
| What do they value? | Family, strong work ethic | Dependability, safety, self-reliance | Opportunities for growth, diversity, improvement | LGBTQ+ rights, racial equality, sustainability |
| How do they communicate? | In-person, phone, text, email, Facebook | LinkedIn, Facebook, email, text | LinkedIn, Snapchat, Instagram, text | TikTok, SnapChat, YouTube |
| #1 way they discover new brands | In-store | Friends/family recommendations | Ads on YouTube | TikTok |
| What influences them to buy? | Brands that protect their personal data | Brands that protect their personal data | Brands that treat employees well | Brands that advocate for social equality |
| What are they most responsive to? | Good customer service, simple and easy-to-understand content | Honesty, clear paths to purchase, email marketing, good customer service | Cause marketing, social media, price-to-value ratio | Influencer marketing, short videos, mobile apps |
| Marketing strategies | Traditional advertising, loyalty programs, in-person interactions | Referrals/word-of-mouth, email, social media marketing, coupons or discounts | User-generated content, social media marketing, influencers | Influencers, social selling on TikTok, Instagram, app or mobile interactions, video |
Gone are the days of a straight customer journey path. Entry points and purchase options are everywhere and each generation interacts with marketing differently. Dig in deep to your target audiences and the generations represented within your customer base, and those that will sustain your business for years to come. Develop a plan to meet your customers where they are and engage with them through content and communication channels that speak to their needs and wants, on their time. Get out of your comfort zone, learn new methods, or invest in team members or resources to make this happen. Diversify. It’s key to growth.
————
Sources
CNBC | “As baby boomers hit ‘peak 65’, what the retirement age should be up for debate”
Statista | Mean disposable household income for United States in 2022, by generation
Forbes | “How each generation is building relationships with brands in 2024”
]]>Email is a direct line of communication. Unlike social media channels such as Instagram, LinkedIn, or X, email goes right into your customers’ inbox. This gives your company the unique opportunity to grab the reader’s attention. With email marketing, you have more control on reaching your audience. You are not beholden to social media algorithms (though you may complete with spam filters, more on that below).
One challenge of email marketing is getting people to click on your email. Let’s dig into how to get your readers to open and engage with your emails.
An email subject line is your readers’ first impression. It determines whether or not the recipient will open your email and that means it’s crucial to make the subject line count. Here are three ways to improve your email subject line:
Sending an email at the right time can significantly improve your open rates. Over a million email marketing campaigns sent through MailerLite were analyzed to determine the following top days and hours for open rates:
With over half of emails being opened on mobile devices, responsive design isn’t optional. It’s the norm. Make sure that your emails:
The length of your email can, and most likely will, affect its readability and engagement. Aiming for brevity and scan-ability is a best practice. Keep your messages short and informative. Using bullet points, subheadings or smaller paragraphs makes it easy to scan.
A call to action (or CTA) is a part of an email that invites the reader to take action. Using words and phrases like “download”, “sign up”, or “see examples” can compel a user to engage deeper with the content. Avoid having too many CTAs in one email as that can overwhelm or confuse a reader. Place your CTA where it will stand out and be easy to click.
Targeted and relevant emails are important! Every person on your company’s email list is different. Consider segmenting your emails by:
Continue to check, test and analyze your emails. Use A/B testing, user feedback and surveys to understand the success of your emails.
For example, when A/B testing, send the same email to two different groups of users but change the subject line in each. Or, change the CTA in the body of the email. The important thing about A/B testing is not to change too much at one time. Choose one thing to change and see how that performs to each segment of your audience. Use that information to your advantage the next time you send an email campaign.
You could test different subject lines, send times or even the order in which the content is displayed to find what works best for top email engagement with your audiences.
Don’t be afraid to ask your readers for feedback. Of course the data on your email open rates and click-throughs can help, but your audience may also be open to providing feedback. Use audience surveys to ask about the type of content that is helpful, the time of day they prefer to be emailed, how often they prefer to hear from you, etc. Outreach like this can help build strong relationship with your consumers and, in turn, generates more engagement.
Email marketing is a cornerstone of digital marketing. Take time to focus on strategies that enhance engagement. Successful email marketing is not just sending a bunch of emails, but sending quality emails with engaging content.
]]>“Each of these women are leaders in their fields, bringing proven expertise and a passion for serving their clients and communities. In recognition of their excellence, we are enormously proud to name them as part of the Enterprising Women Advisory Board.”
Monica Smiley, CEO and publisher, Enterprising Women magazine
Enterprising Women, the nation’s only women-owned magazine published exclusively for women business owners, maintains headquarters in Cary, North Carolina. The full announcement of the 2024 board appointments can be found on the magazine’s website.
]]>“The recipients of the 2023 Enterprising Women of the Year Awards represent an amazing group of women entrepreneurs from across the United States, Canada and around the globe, including honorees this year from the United Arab Emirates, Iceland and Thailand,” said Monica Smiley, Publisher and CEO of Enterprising Women. “We could not be prouder to recognize their accomplishments as CEOs of fast-growth companies, community leaders, and role models and mentors to other women and girls. We look forward to shining the spotlight on them at our 21th annual awards event in May.”
This year, 116 women from around the globe were chosen as recipients of the Enterprising Women Awards. Of the group, only five CEOs from Minnesota were recognized, including:
As part of the nomination process, Melissa was asked, “What is the single best piece of advice you want to share with women who are starting new businesses?” Her advice:
Be prepared for the high-highs and the low-lows. Understand that you are starting a journey that many in your circle may not fully understand and that it can be lonely at times. Know that you are strong, you are worth it and you are not ‘less than’.
Melissa Harrison, CEO, Allee Creative
The Enterprising Women of the Year Awards Celebration & Conference will bring together dynamic women business owners from North America and around the world for two full days of top-notch workshops, networking opportunities, corporate sponsor exhibits and awards presentations. The celebration will shine the spotlight on honorees, with award presentations at the Enterprising Women of the Year Awards Gala Dinner on Tuesday, May 23. During the annual Hall of Fame Luncheon, two women entrepreneurs will be inducted into the Enterprising Women Hall of Fame, and one-woman leader will receive the 2023 Enterprising Women Advocacy Award.
View the full list: Class of 2023 Enterprising Women of the Year Award honorees. Congratulations to all of the award recipients and champions.
]]>Read Melissa’s full bio nomination on the TCB Notable Leaders listing. Congrats to all the amazing leaders who were named to this year’s list!
]]>This month Allee Creative celebrates 16 years in business. It’s been a wild ride. From solopreneur to a full team, two recessions and a pandemic, we’ve weathered a lot. Being a business owner is not for the faint of heart. More specifically, being a woman business owner over the past two years while also navigating the ins and outs of raising four teenage children in unprecedented times has challenged me to pivot in ways I never imagined.
Business ownership, leadership, climbing the proverbial “career ladder” looks different for everyone. For me, as I accumulate years in my career, I’ve also accumulated new perspectives about what works, what doesn’t and what matters most.
People. Tasks. Events. Prioritize time for the things that fuel you–that make you happy. It’s hard to say no, I completely get that. For me, it’s a work in progress. But each time I say no to things that will overextend my time or my mental health, be it work or otherwise, I feel so much better.
You’re good at what you do. You know that, your family knows that, the people that matter know that. Everyone else? That’s their loss if they can’t figure it out. Stop trying to please others. Do good work for yourself because it makes you happy.
You know what the prize is for working 45, 50, 60+ hours a week? Missed time and moments with the people that matter. As they say, no one ever says “I wish I had spent more time working” when they’re living out their last days. Yes, leadership, entrepreneurship, business ownership is a grind. But think back to why you got into where you are in the first place. Flexibility? More time with family? Being in control of your schedule? When I take time to reflect on my ‘why’ I’m able to re-focus and some days, that means turning it off without feeling guilty about it.
It makes perfect sense that this is last on my list because it doesn’t matter how many years in business I have under my belt, this is the hardest for me. Especially with all of the curve balls that have been thrown at my business, my family, my kids — the world — the past few years. But here is what I know: We can do hard things. We can weather the storms. We can come out on top. And we do that by taking care of ourselves just as much as we take care of others in our lives. I know when I make time for me I feel so much better; I bet that when you do the same, you do, too.
So keep doing the hard things. Keep grinding but do it in a way that protects your health, your sanity and your heart. Keep your ‘why’ in front of you every day. Good things will continue to be there for you. This I know for sure after all this time.
Thank you for being a part of the journey.
]]>Brand development on its own can be a challenge—and doing it for yourself can be even more daunting. As you think about how you want to come across in the world, lean on others you trust in your network. Conduct a personal brand exercise and ask them a few of the following questions:
Gathering this information is a great starting point to see whether your brand is coming across the way you mean it to, if you’re hitting the mark and what others value about you as a professional. Going through this exercise can help pinpoint things you want to work on and define areas of focus to pull out as you fine-tune your brand and channels for messaging.
From there, work through your personal brand just as you would your business. Sometimes, these are one in the same or very similar, depending on your industry. This is an important aspect of your brand—do you want to set yourself apart from your business or services, do you want to meld together or do you want to appear as one in the same? There are benefits of each of those scenarios; before deciding, consider:
Upon going through the above exercises, take the next steps in defining your personal brand.
Define how to showcase your niche in ways that everyone can understand, including those that don’t have the same set of skills. For you to stand out, identify what makes you unique and dig deeper. For example, if you specialize in interior design, narrow down your type and what sets you apart. Do you excel in modern design vs. traditional? Do you prefer to design corporate settings vs. personal homes? Whatever it might be, define your specialty and services as a way to hone in on your brand’s niche. It’s better to be great at a select few than to be mediocre at everything.
It’s OK (and encouraged!) to showcase your personal interests and values. This helps show others that you are a real person with interests; that you are human. It’s a way for others to see themselves in you, to connect and to trust you. Authenticity is key. You can do this in a variety of ways, but one way that I meld my personal and professional brand is to share not only when I’m working on as part of my company or book of clients, but also about my family and activities that I love. I am selective on which channels (or to whom) I share that information, but I do share it as a way to connect with others and learn about their interests, too.
Writing about ourselves is hard. It’s not often that you’ll find someone who likes to do it and when we write about ourselves we typically miss the best parts that others see. My tip? Hire a writer to craft your bio for you – and in a few different character counts and formats. That way, you don’t have to trim it down or start from scratch the next time you need to provide one.
Hit the key points of who you are, what you do and what makes you unique. Share accolades, years in business/your industry and something that will leave the audience wanting to learn more about you.
Interview Kickstart shared several examples on how to write a strong personal bio, here are a few:
If writing isn’t for you, jump down to the next tip. I can’t say that building an online content library is for every entrepreneur. But it does help build credibility and give you a platform to showcase your work, your skills and what you know about your industry.
This can be through pictures, an online portfolio or a blog. Housing content online that is specific to you as a business owner creates omni-channel representation of your brand with the potential to attract new prospects and customers, educators, conference and event planners, and the media.
After 16 years as an entrepreneur and 20+ years in my industry, there is one thing I can unequivocally recommend to other business owners: network.
Nothing beats in-person networking but that is not the only way to get involved. Zoom meet-ups, Twitter Chats, Facebook Live, Instagram Live – all of these are great ways to set yourself up to connect with others in and outside of your industry. Networking can provide you the opportunity to learn with and from others—your peers, customers, other business owners. It’s also a great way to give back and provide mentorship to those starting out. If you’re not a huge networker, dip your toe in the waters by getting a few of your social media channels in check so that when others look for you, they’ll see your best and be more likely to connect (because I get it, sometimes it takes others to reach out first). My tip: Start with LinkedIn and work your way to other social media networks from there. Or don’t – it’s completely your call on whether you want to open up the social media can of worms to those in and outside of your professional network. For me, I keep LinkedIn and Twitter open for business (no pun intended) but Facebook and Instagram are strictly personal/private channels.
Building your personal brand is a continuous process but one that is important as we continue to also build our businesses. And if you’re stuck, reach out. I’m happy to connect and chat through your questions—and my team is always available to help you develop and move your personal brand to the next level.
]]>An email open rate is the number of recipients that open your email compared to the total number of people you sent your email to. Measuring your email open rates is an important metric to analyze in order to assess the validity and success of your email marketing strategy.
Now that Apple launched its Mail Privacy Protection, it is also a good idea to track the number of mobile users (specifically iOS users) versus desktop users related to your emails. The reason?
On the surface, email open rates have increased 3.5% over 2021, however, this may not mean readers have opened said emails. Apple’s MPP blocks the ability to see information on how users interact with email (it’s an opt-in feature). Instead, the emails are pre-downloaded when sent which marks the email as opened—see how this could inflate the numbers?
If you don’t have many iOS users, it’s likely that your email open rates aren’t being as inflated as they may be if a larger percentage of your readers are doing so from iOS devices.
We can improve the things we have control over and your email subject lines fall into that category. Make them stronger to entice users to want to open your emails time and time again with these tips:
1. Avoid spam-like words. Using words that appear disingenuous or spammy can land your email into the junk folder. Spam words you want to avoid include:
While there are no “magic” words for subject lines, there are a few words that have shown success in open rates and engagement. Here are some promising words:
2. Showcase value. Provide key points in your subject line and speak to your readers’ interests. Let them know exactly what they’ll get when they open your email. When you create your email, ask yourself: Who am I writing to? Put yourself in their shoes and think about their needs. What do they want to learn? What would be helpful for them to receive in email form? What would motivate a response?
3. Use targets and segmented audiences. Taking the approach of targeted subject lines for segmented audiences can help you achieve 760% more revenue than those that are sent to your entire email list. Breaking your audience into geographical locations, age, gender, interests and industries can help you create more focused subject lines to grab attention of these segmented groups. For additional information on segmented audiences, visit our A/B testing for the win blog post.
4. Keep it short and to the point. A Marketo Engage study found that subject lines containing four words received higher open rates. Subject lines should be a quick scan, if it’s hard to decipher what you’re offering, consumers don’t have time to engage or dig deeper. Conveying your message in a brief and clearly expressed manner is crucial. Practice getting your message across in a few words. Many third-party email software programs will provide character and word counts to help you.
5. Personalize. Email campaigns perform better when they’re relevant and personal. You can add this personalization right in the subject line or, within the body of the email. In order to make this work, collect data from your customers and prospects such as first name, purchase history or location. All of these can be used as a way to personalize subject lines and email content.
The most effective subject lines are brief, descriptive and compel your readers to want to learn or read more. Keep your target audiences in mind, test keywords and phrases, and keep an eye on your email metrics to analyze the success of your email subject lines going forward. As always, we are here to help, get in touch with us if you are ready to take your email marketing to the next level!
]]>Once you have your idea, it is important to write it down in the form of a business plan. If you’re unsure how to create one, contact us for a detailed steps on executing the perfect business plan. The point of writing out your ideas is to get a better roadmap of what is involved with running a business. Developing a plan provides an easier way to tell your story to consumers and potential investors. Your business plan also helps to fund your business, direct your business as it grows and stay on track to reach milestones. Here are some key factors for creating a business plan:
The first step of a business journey begins with an idea that can solve a problem. Before you start focusing all your attention on the product, focus on the consumer. Think about who will be buying the product and why they will be buying your product in particular. What is their pain point? What can you solve for them? Focusing on research rather than development is a critical step in confirming that there is a market that needs your product or service. Search for relevant marketing research reports, find out what your potential consumers are looking for online, research your competitors and speak directly to potential consumers for their opinions and suggestions on your business idea. There are a variety of different market research analysis you can conduct, here are some examples:
The best elevator pitch should consist of two simple sentences. You need to explain your business to potential investors, customers and employees in a quick manner so they can easily understand and promote your services. Don’t overthink this part, be concise and compelling. Here are some tips for writing an effective elevator pitch:
Practice your elevator pitch repeatedly until you are comfortable delivering it at any moment. The more you practice the easier it becomes. You also need to confirm that your elevator pitch aligns with your business plan. For more tips on developing your elevator pitch, visit our how to write a positioning statement for your brand post.
Along with your elevator pitch, you need a pitch deck which is engaging and visually appealing. Your deck should consist of:
Your pitch deck evolves with your company, keep it relevant and up-to-date. Need some guidance on the execution, contact us for a consultation and we would love to help create your pitch deck!
You could have the most ground-breaking and innovative product but what good is it if nobody knows about it? A solid marketing strategy provides you with the potential to grow your business and it is the most effective communication tool to provide value to your customer. It will help you build brand awareness, engage your customers and grow your business. Once your marketing strategy is developed, you need to market your business every day. Promote your services consistently to keep your brand in the public eye. Here are some strategies you should consider:
1. Social media: connecting and engaging with potential customers through social media is a great way to digitally advertise your brand and products. Social media is a powerful tool as you have the potential to reach a large number of people within seconds of posting your advertisement. It also reduces costs, provides you with the opportunity to tell your story and can build a custom audience. Here are some social media advertising statistics from Hootsuite:
2. Blogging: this can be a great way to share your product and generate interest. It boosts your SEO and positions your website to answer consumer questions. It also provides the opportunity to rank in search engines and helps increase organic search and growth. Here are some blogging statistics from Hubspot that you need to know:
3. Email marketing: this allows you to build relationships with leads and current and past customers. It is an opportunity to speak directly to them and is considered one of the most impactful marketing tools. It is also easy to measure and helps increase brand awareness. Here are some benefits of email marketing from Constant Contact:
4. Referrals: when someone uses your service or purchases your goods and has a positive experience, they are more likely to tell others about it. Referrals are some of the most valuable leads you can get. Here are some statistics from Social Media Today:
These tips for your start-up can be used as a guide to evaluate the direction and operating results of your company. Remember to keep it updated as your customers, business environment and plans change. Allee Creative is always here to help you get started or manage these key components in running a successful business, contact us today for additional details.
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