Case Study: Women’s Business Institute
Position: Public Relations/Business Analyst
Situation Analysis:
Puerto Rico’s Women’s Business Institute (WBI) is a Small Business Administration (SBA) program with around 100 peer programs all over the nation. The WBI in Puerto Rico had a good reputation among its clients but little recognition in the community and little leverage with banks. The program was in a difficult situation. The SBA was about to stop funding it, because it was supposed to be self sufficient on its seventh year. It was not.
While the program received matching in-kind funds from the prestigious Sacred Heart University (where it was located) it had no other significant cash sponsors and did not have the reputation to attract them. The program received under $10,000 per year in publicity.
Goals:
- Increase brand recognition among clients, banks and other sponsors.
- Increase opportunities and services for clients.
Additional challenges:
- Attendance to events was low and there were no programs in place that sponsors could support.
- While additional publicity would potentially attract more clients, the team’s hands were full with their current workload and there was no budget for additional personnel.
Strategies:
Changing internal processes: A program including a series of mandatory seminars was created for those visiting the WBI to establish their own business (80% of clients). This reduced the number of individual appointments handled by each Business Analyst and ensured that all clients received services promptly.
Branding
Original logo & brochure
New logo & brochure
After analyzing the WBI’s branding, the management team decided the organization needed a makeover. In order to achieve this, Marketing Arts (a well known, woman owned advertising firm) was recruited. The owner herself got involved in the project and produced a new logo that projected a vibrant organization. Then, a graphic designer created the brochure and the business cards.
Signature Event
Business Forum
“Among Women Entrepreneurs” is a bi-monthly forum with a panel of 10 top business women representing different aspects of entrepreneurship (Accounting, marketing, government permits, technology, financing, human resources, etc.). During each event, three cases were presented by clients in front of an audience of anywhere from 100 to 175 actual or soon-to-be entrepreneurs eager to learn from the feedback received from the business leaders.
The event also featured a popular networking activity and exhibit booths. The event has been going strong for 6 years.
Yearly Event
“Entrepreneurship with the Scent of a Woman” was a success from the first year it was launched. The activity offered an opportunity to recognize supporters, to showcase businesses established with the help of the WBI and to position the WBI as the leader in women entrepreneurship. It was also a great networking and learning opportunity for entrepreneurs. The event featured: recognized speakers, lunch and a cocktail, networking opportunities, an awards and recognitions ceremony, an innovative auction and exhibition booths. The event took place in the Condado Plaza Hotel & Casino.
The event has been going strong for 6 years.
Seminars
Seminars
A yearly calendar with seminars related to business matters was established, attracting top speakers who could offer practical information to attendees.
Seminars offered in a bimonthly basis, attracted an average of 75 participants and covered topics such as:
- Selling on e-bay
- Using the Internet to increase profits
- Managing employees
- Successful Marketing and Public Relations on a tight budget
- Accounting for entrepreneurs
- Many others…
Radio Segment
The WBI produced a 45 minutes weekly radio segment in a local morning radio show, offering “live” advice to entrepreneurs and those wishing to establish their own business.
Newsletter
A bi-monthly newsletter was established and e-marketing pieces were sent out regularly to the 6,000+ database of new clients. The newsletter featured:
-
- -Client case studies
-Advice for entrepreneurs
-Reviews of recent activities and events
-Volunteers in focus section
-Calendar of events
-Information about services
Ad Sponsorship
A sponsorship deal was signed with two major newspapers, in which the WBI received almost $50,000 a year in ad space to advertise its events. The WBI also signed a publicity contract worth over $20,000 with two top radio stations.
Results:
Publicity
When launched, “Among Women Entrepreneurs” generated over $60,000 in publicity in attracted more than 100 attendees. In all, the WBI constantly generated over $250,000 a year in publicity over a period of three years.
The WBI received coverage from all major newspapers and developed strong relationships with several top radio stations, TV programs and Internet sites. Although all publicity was extremely important, getting the first two page article and further continuous coverage from the Caribbean Business (the main business newspaper in Puerto Rico) was a major stepping stone in order to attract top sponsors. Because of its nature, the newspaper does not feature many women and the first article to come out was titled: “How can the little guy survive? A group of enterprising women points the way”. What a great way to be introduced to potential sponsors!
Our office made the pitch, selected the entrepreneurs and organized the meeting with the reporter.
Recognition
The WBI was recognized as one of the SBA’s best programs for three years in a row, for its innovative programming, quality of service, wealth of opportunities offered to its clients, amount of clients impacted and excellence in administration.
Sponsorship
The SBA continued to fund the WBI for an additional three years and the WBI attracted important corporate sponsors such as Hewlett Packard, Avon, Medtronic and Sony, as well as several local and international banks.
Volunteers
Because of its new positioning, the WBI was able to establish a strong, selective volunteer program. Top professionals volunteered to offer seminars, advice and technical assistance to the WBI and its clients.
Hard Data
From 2004-2007, the WBI assisted 7,283 participants, helped establish 114 new businesses and created or retained 308 jobs.
