Small Business Saturday is a nationwide movement initially founded by American Express and cosponsored by the Small Business Administration (SBA) focused on supporting small businesses for all they do in their communities. Celebrated on the Saturday between Black Friday and Cyber Monday every year, Small Business Saturday encourages U.S. consumers to shop small and shop local for their holiday gifts, family get-togethers and other needs. Over the past 12 years since the movement began, support has continued to increase as consumers search out local businesses, with an estimated $23.3 billion spent at independent retailers and restaurants during the day in 2021, an 18-19% increase from 2019 and 2020 levels. While increasing consumer interest benefits small business owners, Texas businesses need to capitalize on Small Business Saturday to shine a spotlight on their products or services in a competitive market.
There are 3.1 million small businesses (99.8% of all businesses) in Texas that employ 4.9 million people. While the definition of a small business used by the SBA is a business that employs 0-499 people, most operating in Texas have no employees (2.6 million), with only 2% employing more than 20 people. Many difficulties are encountered by the 2.6 million small business owners responsible for every aspect of their business’s operations, including taxes, logistics, maintenance and marketing. While they are often experts in their industry or field and use that expertise to benefit their customers and clients, many must rely on other professionals for aspects of business management they are less familiar. Even small businesses that can employ a small workforce do not often have the resources for a marketing or supply manager on staff.
Better Business Bureau (BBB) and other organizations offer many resources to help businesses of all sizes achieve success and contribute to an ethical marketplace. However, BBB also recognizes small business owners’ inherent challenges in establishing themselves and growing their businesses in a market often saturated with competitors. Becoming a BBB Accredited Business is an excellent way for a business to identify itself as a trustworthy company and provides a competitive edge, as consumers know they can turn to BBB in a worst-case scenario. However, capitalizing on marketplace trends such as Small Business Saturday is also essential.
While many small business owners are familiar with Small Business Saturday, some may not be sure how they can capitalize on the increased focus on their business or leverage the holiday shopping season to promote their products or services. BBB provides the following tips to help small business owners make the most of the opportunity:
Promote yourself on social media. Draw attention to your business on social media during Small Business Saturday by using some free creative assets available on American Express’ Shop Small Resource Hub. You can also join trending hashtags for the movement, such as #ShopSmall or #ShopLocal. Consider what pictures you could share that capture the products or services you offer and encourage your friends, family and customers to share your business’s posts on their accounts.
To discount or not to discount? While Small Business Saturday falls between two major events associated with deep discounts, that does not mean small businesses must also offer discounts. However, promoting holiday deals or discounts during Small Business Saturday may determine why a customer comes to your store rather than a competitor. If planning on offering a holiday deal or discount, be sure to take the time to realistically assess the impact the reduced price will have on your business’s livelihood. You can use several promotions during Small Business Saturday, such as ‘buy one get one free’ deals, discounting specific items or services immediately or within a specified time frame, and offering a free gift with purchase.
Ask for reviews and ratings. Often, customer reviews are the deciding factor potential customers use when determining where to spend their money during Small Business Saturday and throughout the rest of the year. Many small businesses experience an influx of new customers over the weekend, providing an opportunity to boost a business’s online reputation. However, the opportunity is often lost when businesses do not specifically ask customers to leave reviews. Depending on the type of small business, owners can encourage their customers to leave reviews by simply reminding them at checkout, including a note in the receipt, or posting a sign in their business with their social media handles. Remember that offering discounts or rebates for a positive online review may influence how truthful customers are about their experience and is generally discouraged.
Participate in community fairs, events and markets. Research what community events are taking place and the best way your business can participate, including possible sponsorships or vendor booths. The more often members of your community are exposed to your business’s name or logo, the more likely they will recall the name when thinking about small businesses in the area. These are also great opportunities to give back to your community for your business’s success and network with other business and community leaders. Through these interactions, you may learn more about specific promotions being put together for Small Business Saturday by local organizations.
Reach out to local business organizations or associations. Contact your local business organizations or associations and learn more about what they are planning for Small Business Saturday. Be sure to specifically ask if the event is open to all businesses operating within the area, if there are any fees or charges to participate, or if it is only available to members of that organization or association. Check the calendar of events on the official website for your city and reach out to organizers who may be planning on promoting local businesses during Small Business Saturday.
For more BBB tips focused on small businesses, visit BBB.org/SmallBusiness and find more free resources to help business owners enhance their credibility and trustworthiness at BBB.org/BusinessResources.
