News
How Does LendingTree Get Paid?

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appears on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

4 Tips for Small Business Saturday Success

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, commissioned or otherwise endorsed by any of our network partners.

Small Business Saturday is Nov. 26, 2022. Small business owners shouldn’t overlook the day, especially with consumers reportedly spending $23.3 billion at independent retailers and restaurants during last year’s commemoration.

“Participating in Small Business Saturday is an incredible way to gain more exposure for your business and help out other small businesses,” says Matt Schulz, LendingTree chief credit analyst. “The fact that the eyes of the nation are focused on small businesses on that one day allows you to introduce your business to new customers and grow your business.”

If you plan on participating this year, here are four ways to make the most of the day.

4 ways to have a successful Small Business Saturday

No. 1: Mark the occasion with an event

Small Business Saturday is big, so it makes sense to want to capitalize on its popularity by creating a celebration. Depending on your business’s finances, that could mean creating an in-person or virtual event or setting a sale around the day.

You may also want to team with other small businesses in your area to reach a wider audience and encourage cross-business sales, Schulz says. For example, you could send out a roundup of discounts from local businesses ahead of Small Business Saturday, or agree to offer each other’s customers exclusive discounts.

No. 2: Get your social media in line

Small Business Saturday comes with a certain level of customer awareness and enthusiasm, but that doesn’t mean you shouldn’t do your own marketing. A well-executed social media plan can help maximize your success and help you reach more people.

For example, keeping your business profiles active via a content calendar, researching relevant hashtags and considering giveaways or contests can make your posts easier to find while getting people excited about your business. Make sure you have specific goals so you don’t waste time. And if you do a giveaway or contest, research requirements in your state and on the platforms you want to use to avoid potential missteps.

If you have an email list, give members a heads-up about the good stuff that’s coming, and how they can participate.

No. 3: Take advantage of the hype

“Small Business Saturday brings some great opportunities,” Schulz says. “You can register to be included in American Express’ Shop Small Map. You can reach out to your local Chamber of Commerce or small business alliance to see what they have in the works. You could reach out to local media outlets covering Small Business Saturday who want to speak to someone who runs a small business.”

Remember that your business needs to accept American Express to qualify for the map since the company founded Small Business Saturday. American Express also supplies free marketing materials, like signs and decals, available for order or download. It also provides resources, discounts and industry insights for small businesses.

No. 4: Reach out to existing customers

Your customer base is your greatest asset as a business owner, especially on days like Small Business Saturday.

“You can use the day as an excuse to reach out to your loyal clientele with special offers, discounts and maybe even refreshments to get them to come back for a visit,” Schulz says. “There’s so much possibility.”

Another option is getting your customers to post on social media that they’re participating in Small Business Saturday. It can provide user-generated content if you create your own hashtag. (Just be sure to reach out and make sure that you can repost their content.)

“Success in business is often about taking advantage of opportunity when it presents itself,” Schulz says. “Small Business Saturday is definitely an opportunity that shouldn’t be overlooked.”

 

Recommended Reading