Smalls business owners should never doubt the importance of their work to the American economy. They provide 55 percent of all jobs in the country, and they have provided 66 percent of all net new jobs dating back to the 1970s. Representing 99.7 percent of all employer firms, according to the U.S. Small Business Administration, November 28, 2015 is their day.
This year’s annual Small Business Saturday is just around the corner, and previous campaigns have generated billions for American businesses. Thus, it behooves small business owners to make the most of this day.
If you’re a small business owner, here are five strategies you can employ to ensure your Small Business Saturday is as profitable as possible.
- Expand your day. Remember, Small Business Saturday is your day, so make the most of it. If you usually open your business at 10 a.m., this is the day to open at 7 a.m. instead. Use email and social media to remind your customers of Small Business Saturday, and be sure to tell them about your plans to open early. These channels can also be used to highlight any sales or promotions you have tied to the day.
- Create a memorable experience. Your personal touch is what makes your business special, so highlight it with special activities on Small Business Saturday. If you own a bookstore, hold a reading for children. If you serve delectable treats, host a tasting. And if you run a small music store, invite a local artist to perform. Make your Small Business Saturday experience memorable and customers will think of you when looking to satisfy a need the rest of the year.”
- Follow Black Friday’s example. Door-busting deals work to bring customers through the doors of retailers on Black Friday, and they can do the same for your business on Small Business Saturday. Before you finalize such a strategy, however, make sure you choose your door-busting deals carefully. Analyze your profit margins and make sure you don’t choose to heavily discount an item that will negatively impact your bottom line after the day has passed.
- Partner up. The right partnership can make your small business feel like a bigger business on November 28. To do this, consider combining your marketing and promotions with a like-minded store. For example, if you are a florist, partner with a bridal boutique. If you’re a baker, partner with a coffee house, and if you’re a travel agent, you may share plenty of customers with the local boarding facility. Offering cross-promotions will benefit you both and help everyone make the most of Small Business Saturday.
- Give back. As a small business, you pride yourself on giving back to the community that’s given so much to you; Small Business Saturday is the perfect time to do just that. Consider giving a portion of all your sales during the day to a charity of your choice and then display this for your customer’s knowledge. You might even consider partnering with the charity if it works. Lastly, don’t discount the importance of writing thank you notes to everyone who made your Small Business Saturday special. A handwritten note will stay with your customers far longer than it takes to write it, and it’s one easy way to separate yourself from your larger competitors.
Small Business Saturday was created with businesses like yours in mind, and now it’s up to you to make the most of it. Apply any of the ideas above with an infusion of your own creativity.Business & Finance Articles on Business 2 Community