A little bit of early prep and planning can make Small Business Saturday pay off for retailers.
Consumers may be thinking jack-o-lanterns and elections now, but before you know it they’ll have Christmas on the brain — and small business owners who aren’t taking advantage of Small Business Saturday opportunities may want to reconsider that decision, according to Bob Phibbs of RetailDoc.com.
Phibbs recently argued Small Business Saturday can build both sales and brand awareness, as long as business owners prep early and plan strategically. Here are some of his tips on how to leverage the event to your advantage:
Bundle. “Resist the urge” to offer a blanket discount on Small Business Saturday, e.g. 20 percent off all Christmas merchandise,” he said. “Shoppers will be out spending their money, and you want to attract those who are looking for something other than just a cheap price,” he explained. “There’s always someone cheaper, whether online or down the street.” Instead, Phibbs suggests bundling an incentive with each purchase. “Even if it is a gift card to your business, it is a much better promotion than a generous discount because it gets customers back into your store to spend it,” he said.
Give back. Small Business Saturday already attracts customers looking to support local communities. Build on that impulse by partnering with a local charity, Phibbs said. “Collect donations,” he suggested. “Customers feel good when they see businesses looking making their local world a better place.”
Work together. You don’t have the marketing budget of your national competitors, but you may have more strength in numbers than you realize. “Hold a meeting with your other local businesses to create a fun plan,” Phibbs said, noting that last year, one group of Maryland business owners set up a scavenger hunt—other businesses have staged “selfie” areas along a “Small Business Saturday trail” or handed out passports for each business owner to stamp.
Get their names. Don’t let a new face leave our store without asking for contact info, Phibbs said. “Use this opportunity to get those who visit you to join your Facebook page,” he explained. “Have them take a snap in your store and post it with your hashtag and #shopsmall. Have them signup for your newsletter on a dedicated iPad by the register. Getting their names and follows is critical as you need to stay in contact with these shoppers long after the Thanksgiving leftovers have all been eaten.”
