In 2010, American Express founded Small Business Saturday to encourage people to shop at small businesses on the Saturday after Thanksgiving.
Research shows consumers who were aware of Small Business Saturday spent $5.7 billion with independent merchants the day of the event last year. This event should definitely be on your radar as you prepare to kickstart the holiday season. Here are a few key ways to make sure you are getting the most out of Small Business Saturday:
1. Offer A Special.
It’s no secret that offers and deals are the main reason most people are out shopping on Small Business Saturday. Enticing new and existing customers with special pricing or a free gift is a great way to increase traffic to your store on Small Business Saturday and the rest of the holiday season.
2. Create an Experience.
The special pricing you create on Small Business Saturday will be what gets the people in the door, but the experience you provide is what will encourage them to make a purchase, tell their friends about you, and become loyal repeat customers. Small Business Saturday is a unique way for you to introduce yourself to the community, so tell your story and give them the experience to remember.
3. Be Prepared.
If you have taken all the right steps of marketing your business you are bound to have a great turnout for Small Business Saturday. The only thing that could ruin this great sales day is if you are understaffed or run out of a product. Make sure you have prepped your staff and ordered enough product to keep your shelves stocked.
4. Give Your Customers Something to Share.
If you have provided an amazing experience and a quality product to your customers they will want to tell their friends. Make sure you have some sort of collateral, digital or physical, for them to remember you by and that can lead to simple, easy referrals. Also, make sure your website, social media profiles and online listings are up to date with your contact info, hours, services, pricing, and inventory so your business can be easily referenced.
Lastly, American Express offers a ton of free resources to help businesses market themselves on Small Business Saturday. They also have some success stories from businesses that have participated in the past if you need some inspiration.
Good luck and remember #ShopSmall and #ShopLocal!
Should businesses spend money on ad placements when most people have learned to ignore them? Do people trust advertisements?
It is nearly impossible to avoid marketing messages. We are constantly being targeted. We see ads on signs and billboards while we walk down the street, we hear ads while we live stream music or podcasts, we see logos on jerseys and on the foods and drinks we consume…advertisements are everywhere.
Advertisers worldwide spent $545.40 billion in 2014 on paid traditional, digital and mobile media. Do all these ads affect purchasing behavior? Should businesses spend that much on ad placements when most people have learned to ignore them? Do people trust advertisements?
According to a Neilson study, word-of-mouth recommendations from friends and family are the most influential. 84 percent of respondents say they trust the information about a product or business coming from their network. Branded websites, online reviews, and editorial content follow on the list at around 70 percent trustworthy and traditional, digital and mobile ads are at the bottom of the list.
Today’s average consumer sees right through exaggerations, photoshopping and sponsored posts. So if you’re going to advertise, make sure you are truthful and transparent. It has become entirely too easy for consumers to research companies, cofounders, and products. With a handful of clicks, you can do a quick price comparison, see the competitors and check reviews online.
With information so widely available and a research-happy audience, businesses need to shift their marketing strategy from general advertising to developing branded websites, managing online reviews, content marketing and encouraging referrals. Since consumers have instant access to their trusted networks and can ask for recommendations via a post, tweet, text or phone call it is essential for businesses to be memorable and to create emotional connections with their customers.
Marketing and advertising strategies should include spending money and time to build general brand awareness and even more money and time to create amazing customer experiences. Today’s marketplace research proves new customers come primarily from existing customers’ networks, so referrals and testimonials are extremely (if not the most) valuable. A single recommendation from a trusted friend will resonate and perform better than any number of ad campaigns.
By focusing on personalized customer experiences, a business can create a growing network of influencers eager to tell their friends.
A brand is no longer what we tell the consumer it is. It’s what consumers tell each other it is.
Marketing and PR was a lot less complicated a few decades ago. Now we have online communities testing products and posting reviews for anything and everything you could think of. It is so incredibly important for brands to be present and participate in these discussions regarding their products and services.
My advice: More feedback means you can make a more valuable product. So listen! Seeing instant feedback from users is so beneficial and allows you to make edits and improve the user experience. Not agreeing with a suggestion or review is obviously inevitable, but you can use those situations as opportunities to discuss your brand’s core philosophy or mission and how maybe that particular suggestion just can’t/won’t work.
The bottom line is that people are going to talk about products they like and dislike (they really like talking about products they dislike!). By being in the room and listening to suggestions and critiques you can make improvements on your product and use the opportunity to define your brand’s voice by how you respond and interact.
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