It’s an era of global markets and capitalism. But even if the small businesses offer superior products and services, there is a possibility that many small businesses do not succeed. Seven years ago, American Express (AmEx)introduced the concept of Small Business Saturday, the first Saturday after the Thanksgiving Day. It encouraged all its card holders to shop with the small businesses within the community that is enlisted with it for just one day. The customers were given an incentive initially. However, the previous year, the customer incentives were taken off.
The New Incentive Offered By American Express
This year AmEx is again supporting the ever expanding network of small businesses who accept American Express Card as a mode of payment. While its card members, can earn 2X rewards for spending at the small businesses registered with American Express through December 31. Howard Grosfield, EVP, U.S. Consumer Marketing Services for American Express, opined that in the previous year, 95 million people shopped on Small Business Saturday. The Card members can use their card to shop at all the qualifying small merchants, ranging from restaurants to retailers to dry cleaners and more. The 2x reward points will be added to their cards.
Shop Small Concept
As per the data from American Express Cards, 1.6 million new small businesses have started accepting American Express Cards over the last couple of years. The American Express Card members can enroll an eligible American Express Card online through December 31, 2016. The Card holders can find the small businesses enlisted with American Express by visiting the Shop Small Map (shopsmallnow.com). For each eligible American Express personal card, the Shop Small 2x Rewards is applicable for the first $100,000 purchases and for the Open Small Business Card the 2x rewards will be applicable for the first $250,000 purchases.
Strategies To Drive Sales On Small Business Saturday
- Join an online marketplace ASAP
This is an era of online purchases. Therefore, you ought to offer the convenience of purchasing your goods online. Owning an ecommerce website or an e-store can be bit expensive and time-consuming. Instead, start your small business’s online presence by joining hands with a reputed online marketplace. You need to do a bit of research regarding which online marketplace is right for you.
- Pamper and pep-up your small business
Remember that it’s not just about small business Saturday, you have black Friday as well as cyber Monday to think about. Apart from that, there is an entire holiday season to drive sales to your business. To reap profit, you need to make your business very enticing.
1. If you have a physical store here are a few things that you need to do
- Create festival bundles- Pair the products that complement each other. It will easy for the holiday shoppers to grab and go.
- Check your inventory- Stock the goods that are likely to move faster. Cross check with the previous year’s numbers. Consider integrating an inventory management system to make this task easier.
- Train your staff to handle the holiday shoppers- Train your existing staff as well as the hired ones to handle the influx of the holiday shoppers. Customer service goes a long way and it can lead to more sales in the future. The staff should be able to help as well as properly answer the queries of the customers.
2. If you have an e-store here are a few tips-
- Holiday gift bundles – These can boost sales. You can have different kinds of bundles such as gifts for Best Friends, gifts for mom, gifts for dad, gifts for grandma and so on. You need to be creative and fill the holiday bundles with cute gifts that will entice the customers.
- Revise descriptions and product titles – The description should be clear, descriptive, and enticing.
- Upload high-resolution pictures of your product – This is important. So the customers know that they are buying genuine and authentic product(s). Order packaging and shipping supplies.
- Promote your business
Before you know, Small Business Saturday will be here. So you need to decide on the deals that you will be offering the customers. You can offer free shipping, a free complimentary gift with the purchase or a small discount.
- Now is the time to make use of your email software. Send customized emails to your clients letting them know about the promotions on offer on Small Business Saturday.
- Tap the power of Social media platforms to promote your sales in the days leading to Small Business Saturday.
- For in-store purchase, tuck a flyer into the shopping bags.
It’s still not so late. Take a little time to create a strategy to drive sales upwards on Small Business Saturday this year.