Maximizing Small Business Saturday: 7 Key Strategies for Success
On November 30, 2024, businesses nationwide will participate in Small Business Saturday, an annual shopping event. Held on the Saturday after Thanksgiving, Small Business Saturday is a day dedicated to supporting small businesses and celebrating the impact they have on local communities. Although relatively new, it made $17.9 billion in sales in 2022, per the U.S. Small Business Administration. This is an opportunity for small businesses to attract new customers and boost sales. To maximize this year's opportunities, consider implementing these 7 strategies ahead of time.
1. Spread the Word Early:
Start promoting Small Business Saturday well in advance to build anticipation and excitement. Use your website to funnel more customers to your store and keep them engaged by sharing special shopping hours, event details and product updates. Plus, use social media, email campaigns, flyers, and newsletters to inform customers about the event and any special deals or promotions you'll be offering. For social media, consider creating a unique hashtag for your business to make it easier for customers to find and share information about your event. Or leverage hashtags like #SmallBusinessSaturday and #ShopSmall to make it easier for customers to find you!
2. Host Unique Events:
Stand out from the crowd by hosting special events, such as pop-up markets, welcome stations, or in-store demonstrations. These events can help you engage with your community, meet new customers, and expand your reach. Consider partnering with other local businesses to host joint events and cross-promote each other's offerings. Or contact your Chamber of Commerce or local business groups to see if they are planning events you can join.
3. Offer Special Deals:
Attract more customers by offering exclusive deals and discounts on Small Business Saturday. This not only encourages people to shop locally, but it can also build customer loyalty. Consider creating bundle deals or offering a coupon for a free gift with purchase to incentivize customers to spend more. Once you have strategically planned your discount, plan to communicate through email or via social media. Be sure to include links that current customers and prospects can click to get directly to your purchase page. Make shopping a snap and you’ll snap up more customers.
4. Create Strategic Partnerships:
Collaborate with other local businesses to amplify your marketing efforts and increase your brand exposure. By working together, you can create a sense of community and make Small Business Saturday an even bigger event. Consider partnering with businesses that offer complementary products or services to cross-promote each other's offerings. Once decided, don’t forget to send a joint email to customers about the discounts at different stores. It'll make shopping easier and boost your reach more than if you were to do it alone.
5. Focus on Customer Service:
Excellent customer service can turn first-time shoppers into loyal customers. To truly draw the crowds, make sure you have a robust team ready to tackle the rush and provide top-notch service. If fostering customer loyalty is your goal, consider offering personalized experiences to make customers feel valued and devise a clever way to gather customer info and ensure there's a plan for keeping in touch down the line.
6. Utilize Social Media:
Develop a robust social media campaign to promote Small Business Saturday. These days, shoppers are turning to social media to guide their purchases, so it's crucial to build a vibrant online presence. One clever tactic is to harness the talents of your social media-savvy staff to craft captivating posts or host live shopping segments. Their personal followings could help amplify your brand. Don’t forget to share photos and stories from past events, and encourage customers to share their own experiences using your unique hashtag. Also, use social media to remind your neighbors of the significant impact that supporting small businesses can have on the community. According to SCORE, a non-profit organization that mentors small businesses, small businesses contribute 250% more to local nonprofits and community causes compared to larger businesses.
7. Collaborate with Charities:
Consider partnering with local charities and promoting these efforts to your customers. The holidays are a key time to consider helping others and allow your brand to prosper while doing good. This not only enhances community goodwill, but it can also attract socially-conscious customers who want to support businesses that align with community causes. Consider donating a portion of your sales to a local charity, or hosting a donation drive in-store. Make sure to acknowledge the success of your campaign and donation by expressing gratitude to your clients and staff for their contributions in making a positive impact.
By incorporating these strategies, small businesses can maximize the benefits of Small Business Saturday and help foster long-term customer relationships. With a little planning and creativity, Small Business Saturday can be a major success for your business and help to boost your bottom line.
Old National is there to help power your business forward. Connect with an Old National Small Business banker for more insights today.
