Small Business Saturday (SBS) is an annual event that encourages consumers to shop at local, independent businesses. It was launched in 2010 by American Express and has since become a popular and profitable day for small businesses across the country. According to American Express, SBS spending has reached a reported estimate of $103 billion since the day began1.
However, SBS is not without its challenges. In 2023, small businesses face a number of issues, such as staffing shortages, inflation, and slower sales. Moreover, the COVID-19 pandemic has changed consumer behavior and preferences, making it more important than ever for small businesses to adapt and innovate.
So, how can small businesses make the most of SBS in 2023? Here are some strategies and statistics to help you plan and execute a successful SBS campaign.
- Create a digital presence. According to Verizon Business, 35% of small business owners expect to see an increase in online traffic rather than in-store traffic on SBS. Therefore, it is essential for small businesses to have a user-friendly and mobile-optimized website, as well as a strong social media presence. You can use these platforms to promote your SBS offers, share customer testimonials, and engage with your audience. You can also sign up for the American Express SBS map to show shoppers that your business is participating.
- Offer incentives and rewards. One way to attract and retain customers on SBS is to offer them something extra, such as a free gift, a discount, or a loyalty program. For example, Soapy Joe’s, a family-owned car wash operation in San Diego, is offering new and existing customers specific membership offers on SBS. You can also partner with other local businesses to create cross-promotions and referrals, such as a coupon for a nearby restaurant or a gift card for a local store.
- Focus on customer service and experience. SBS is not only about making sales, but also about building relationships and loyalty with your customers. You can do this by providing excellent customer service and creating a memorable experience for your shoppers. For instance, you can personalize your products or services, offer free samples or demonstrations, or host a live event or a contest. You can also ask for feedback and reviews from your customers and thank them for their support.
- Highlight your social and environmental impact. Many consumers today are looking for businesses that align with their values and contribute to their communities. You can showcase your social and environmental impact by highlighting how you support local causes, donate to charities, or use eco-friendly practices. You can also join or create a local network or association of small businesses that share a common vision and mission. This can help you increase your visibility and credibility, as well as foster collaboration and solidarity among small businesses.
SBS is a great opportunity for small businesses to boost their sales, increase their exposure, and connect with their customers. By following these strategies and using the latest statistics, you can make SBS 2023 a success for your business.
