9 Tips for Making Small Business Saturday a Resounding Success

What is Small Business Saturday?

American Express created Small Business Saturday in 2010 as a marketing campaign with the goal of supporting small businesses that were struggling in the aftershock of the 2008 financial crisis.

Each year, businesses that accept American Express cards can visit the Shop Small resources center on the Amex website to browse seasonal offers, read helpful insights and download free marketing and promotional materials.

However, Small Business Saturday has since evolved beyond just the resources provided by Amex to become formally supported by the U.S. Senate and co-sponsored by the U.S. Small Business Association (SBA).

The results of the program in recent years have been staggering.

In 2021, Americans spent an estimated $23.3 billion shopping at small businesses that Saturday alone, with 70% of shoppers reporting that Small Business Saturday makes them want to encourage others to shop at small, independently-owned retailers.

Meanwhile, in 2022 roughly 59% of holiday shoppers planned to participate in Small Business Saturday, positioning it above even Black Friday (sitting at 56%).

With these statistics, it’s easy to see why many small business owners consider Small Business Saturday the most important consumer shopping day of the year.

When is Small Business Saturday?

Small Business Saturday always falls on the Saturday following Thanksgiving, positioning it between Black Friday and Cyber Monday in the broader holiday shopping calendar.

In 2024, Small Business Saturday will be Saturday, November 30.

9 tips for making the most of Small Business Saturday

Capitalizing on the increased buying activity on Small Business Saturday is one of the best ways for your small business to make the most of the holiday shopping season.

Below, are nine tips for ensuring your business holiday preparations are a resounding success.

1. Lean into marketing yourself as a small business

Small Business Saturday is about celebrating the role that small businesses play in the broader economy. For this reason, it’s important to lean into your identity as a small business to make the most of the season.

Especially when it comes to younger buyers who crave unique and authentic experiences, “shopping small” is often one of the most compelling reasons for customers to visit your store this season.

Marketing strategies such as highlighting your team on social media, capitalizing on word of mouth and grassroots campaigns or telling the story of how and why you started your shop are all ways of highlighting your unique place in the community.

2. Create a special offering specifically for Small Business Saturday

Many businesses choose to release special promotions on Small Business Saturday as a means of getting new customers through their doors.

Start by thinking about your target audience and the kinds of offers that would appeal to them, then come up with a plan for how you can get your offer in front of them this holiday season.

For example, if your biggest seller each holiday is knitted scarves, think about the types of buyers who would be interested in this product and why they would choose to purchase one.

In this case, your customers may not need to buy multiple scarves for themselves. Instead, create an offer that talks about stocking up on simple but useful gifts for friends and family.

Similarly, offers such as free holiday snacks for in-shop visitors, live music and events or custom gift-wrapping could provide enough value to your audience that your offer catches their attention and influences them to visit your store.

3. Build out an email marketing campaign to capitalize on your existing customers

With an average return on investment (ROI) of $42 on every dollar spent on email marketing, it’s critical to capitalize on your existing network to ensure you’re putting offers in front of audience members already engaged with your business.

If your business isn’t currently collecting emails for marketing campaigns, it may be a good time to start thinking about the value of having a direct line of communication to your customers’ inboxes.

In the weeks leading up to Small Business Saturday, start sending out targeted email marketing communications to your most engaged customers to raise awareness of your special holiday offers and any new products or services they may be interested in.

4. Leverage social media and word of mouth to generate new business

While email marketing may be more effective at raising awareness of your offers among current visitors, social media offers an excellent opportunity for connecting with potential new customers.

Keep in mind that other businesses in your local area may also be posting about Small Business Saturday, so it’s wise to focus on the quality of your content versus the quantity as you plan out your holiday posting schedule.

For example, prioritize communications that highlight the most compelling aspects of your brand, business or holiday offer as opposed to just the products and services with the highest profitability.

When the average American is expected to spend somewhere in the realm of $300 at small businesses over the holiday weekend, the value of acquiring new customers through a targeted awareness campaign cannot be overstated.

5. Decorate your store and stock up on popular products

Make shopping on Small Business Saturday an experience for the customer that stands out from their day-to-day trips to a store.

To help your business stand out, use the holiday as an opportunity to decorate your space to match the spirit of the season and excite potential customers.

For example, you could put up festive decorations relating to the holiday season or invest some funds into the space itself to update lighting, add new and interesting embellishments or otherwise brighten up the space.

Additionally, as you’re preparing your business for the holiday season, take the time to think about your inventory and how to handle the increased demand for your products on the day itself.

The last thing you want is to run out of your most popular item halfway through the day, costing you sales and a significant chunk of your potential revenue.

6. Place gift cards prominently near your register

Many holiday shoppers buy gift cards in addition to other items for friends and family as a way of allowing them to shop for something unique themselves. For small businesses, selling gift cards can be an excellent way of driving more visitors to your store.

This Small Business Saturday, consider placing colorful gift cards near your register so customers who have a good experience at your store can help their friends and family enjoy it as well.

7. Set up a rewards system to collect customer contact information

Setting up a business rewards system is a powerful method for increasing customer retention and collecting contact information for future marketing campaigns.

After a customer provides their contact information through a form (either a phone number or email address) you can send them marketing promotions and other future information about your business.

In the context of Small Business Saturday, there are two key strategies for leveraging your rewards system to drive success:

1. Communications Before the Holiday — If you already have a rewards system in place, use it to send out marketing communications relating to your Small Business Saturday offering. This can be a vital line of communication going into the holiday for reaching out to former customers and convincing them to return to your store.
2. Using the Holiday to Sign People Up — Because of the large amount of traffic moving through your business on the weekend after Thanksgiving, it may be beneficial to offer your visitors some kind of seasonal promotion relating to signing up for your rewards system. For example, offering 5-10% off their next order if they sign up for your rewards program or giving out small gift cards to visitors who choose to sign up are great ways of building your contact list for future marketing communications.

8. Partner with other small businesses

Partnering with other local businesses can have a wide array of benefits, from reaching new audiences to building a network of local business owners who you can seek advice from.

For example, if you own a store that sells wine on Main Street, you could partner with the brewery down the street to offer discounts to visitors who visit both stores. If you own a bookstore, you could partner with the coffee shop next door to provide a cozy experience for your visitors and share in the profits of providing that experience.

Remember, Small Business Saturday is about celebrating local organizations and building community. Showing that you’re connected with other small businesses in the area can be an excellent way of putting your values on display and building stronger customer loyalty and retention.

9. Offer extended business hours and increase your online presence

The Saturday after Thanksgiving is often one of the biggest shopping days of the year, especially for small businesses. For this reason, you’ll want to capitalize on as much of the day as possible to ensure you’re getting the most out of the holiday season.

Review your performance over the past few years to forecast an approximation of when and how many customers are likely to visit your store.

Sometimes, leaving your doors open for an extra hour or two could be the difference between someone visiting your store or going elsewhere, especially for customers who choose to run several errands throughout different times of the day.

As an extension of this, don’t neglect your digital storefront either. Oftentimes, your website and social media profiles are the first things a prospective customer will look at when deciding about whether to visit your store.

Further, the rise of Buy Online Pick Up In-Store (BOPIS) and online ordering have further shown the importance of having a clean, functional website where customers can easily make purchases.

Making the most of Small Business Saturday means ensuring you put the right products in front of the right customers at the right time.

By extending your hours and streamlining your online shopping user flow, you can build better experiences for customers, increase retention rates and ultimately raise your business’s profitability and cash flow.

Make the most of the holiday season by planning ahead

Starting early with your Small Business Saturday planning is critical to capitalizing on the increased amount of traffic most small businesses will receive on this day.

Further, having a marketing plan can help you stand out from the crowd and potentially build a stronger place in your local community by introducing you to new customers and providing better buying experiences to shoppers who enter your store.

However, before you jump into planning your next marketing campaign or stocking up on your most popular items, take a moment to ensure you have the financial and operational scaffolding in place to meet your customers’ demand.

From raising funds to purchase new inventory or expand a location to making sure you have the merchant services solutions you need to seamlessly accept and process credit card transactions, your first step should always be ensuring you have the tools in place to make the most of this golden shopping opportunity.

If you have any questions about the different resources available to help you grow your business to meet increased holiday demand this season, reach out to one of our local bankers to learn more about what Associated Bank can do to help set you up for success this Small Business Saturday.