Small Business Saturday Yields Big Results

So, how many of you celebrated Small Business Saturday? For shoppers, where did you go and what did you see? And for shop owners, what did you offer and what did you do?

This was the third year of what’s increasingly being recognized as a great opportunity for buyers to shop small and shop local – and for small businesses to seize the momentum of a national movement.

Small Business Saturday was launched in 2010 by American Express as a way to encourage shopping at independent locally-owned retailers, falling on the heels of Thanksgiving Day and sandwiched between Black Friday and Cyber Monday.

The reviews generally are positive. Participation is growing both among merchants and buyers. But the most positive reviews come from businesses who proactively positioned themselves – they planned, prepared and promoted their events – and from shoppers who had a memorable “experience.”

USA Today reported that consumers spent $5.5 billion at independent retailers during this year’s Small Business Saturday (up from a projected $3.3 billion). And according to a Consumer Insights Survey, 67% of Americans who know about Small Business Saturday planned to “shop small” this year (nearly doubled from 34% last year). Merchants also reported that sales picked up that day and that this year sparked more participation than last.

As we read reports from around the country, we were impressed with some of the innovative approaches that local businesses took. And for those reporting lackluster results, we noticed there also were a few critical mistakes – in lack of planning, lack of execution and lack of promotion. So, our takeaways for a successful event next year:

 

Plan proactively, starting now. You can’t wait until the week before or the month before to launch a successful Small Business Saturday. You have to come up with the specifics of your promotion in order to execute the plan. Even if it’s as simple as offering a discount – or as elaborate as hosting a special event with fun and festivities. If you let the time get away from you, what could have been a memorable occasion – and profitable event – may prove disappointing and stressful.

Map out the specifics, because preparation is everything. Do you have a theme? Do you have a plan? Do you have the needed personnel? What about potential partners? Ask yourself: What will draw customers to your store and is it enough that they’ll want to return again and again? If customers come to your shop for Small Business Saturday, what will they find? Describe the mood of the place - what will entice them to buy, linger, have fun and spread the word? What will make the day worth your while and have you planned accordingly?

Promote, promote, promote. Even with the best of plans, if no one knows about your event, you’ll be lucky to get the participation to make it a success. Have you taken advantage of opportunities to advertise? If you don’t have the budget, have you seized the opportunity to spread the word with current customers, through social media channels, or in a partnership with other small local businesses? Remember, advertising and word-of-mouth start well before you open doors for that special day.

Caught looking good – One of our favorite local promotional pieces was Baltimore’s 2012 online gift guide featuring items made in and/or specific to Charm City. If more local shops promoted their unique products/events, we think they’d also see great results!

Take a moment now to think about the great opportunity that lies ahead for Small Business Saturday 2013 and throughout the year. Visualize it, plan it, and seize it!  

Did something really wow you this year? Email me at gwen@milestonespr.com. Share it and we may give a shout out!