Small Business Saturday is only a little over a week away and this year brings unique opportunities.
A recent Accenture study found that 40% of respondents plan to spend more money on their holiday shopping this year than they did in previous years. Last year roughly 88 million consumers spent $14.3 billion during Small Business Saturday. So, there’s a lot of potential for sales over Small Business Saturday.
But, how can you differentiate your business amid the roughly 27 million small businesses throughout the United States.?
Here are 3 hacks to help you can kick off the holiday season with a successful Small Business Saturday:
1.Use promotions wisely
We all know promotions can persuade customers into our stores, but we can use research to determine even more than that. Studies show that 87% of shoppers are typically persuaded by 20% off or more to purchase an item. Additionally56% of shoppers would rather be targeted with promotions, rather than seek them out on their own.
2.Create a personalized experience
Consumers between the ages of 18-35 are more likely to purchase promotions that are highly personalized and applicable to their needs. Personalizing your marketing efforts before Small Business Saturday can create a relationship with potential customers and bring them into your store.
According to Accenture, 61% of respondents attribute social media to part of their purchasing decisions. Social media has such a strong effect on consumers because they like to see what’s popular and trending before they make a purchase. Incentivising your customers to share their shopping preferences online can add your goods or services to the coveted status of “trending”. You can do so, for example, by creating a promotion that anyone who checks in at your store on social receives a discount.
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