Turning Small Business Saturday into a Win for Merchant Services
With the rise of the Shop Small® movement and the upcoming 14th annual Small Business Saturday on November 30th, 2024, merchant service representatives have a unique opportunity to assist their small business customers in maximizing sales. This day, designed to encourage consumers to shop at small, local businesses, has been a key driver of revenue for SMBs across the U.S. since its inception by American Express in 2010. As a payment processor, you can help small businesses capture this increased foot traffic while securing your position as a valuable partner in their growth.
Here’s how merchant service representatives can support their customers and grow their own portfolios by leveraging Small Business Saturday.
1. Educate SMBs on the Importance of Small Business Saturday
First, ensure your clients understand the benefits of participating in Small Business Saturday. This event has generated nearly $163 billion in consumer spending since its inception and has become a key shopping day, positioned between Black Friday and Cyber Monday. Small businesses that get involved benefit from increased revenue, greater brand loyalty, and a strengthened local economy.
By highlighting these advantages, you can position yourself as a knowledgeable advisor who not only understands the event’s impact but also the local community’s dynamics.
2. Help Customers Enhance Their Digital Presence
More than one-third of shoppers prefer to engage with small businesses online, making digital readiness crucial. Encourage your clients to prominently display their Small Business Saturday deals on their websites and social media. You can even offer advice on optimizing for mobile responsiveness and encourage using local hashtags (e.g., #ShopSmall and #SBS2024) to reach a broader audience.
Additionally, provide resources like American Express’s free marketing tools, such as banners, social media templates, and email content. By equipping them with these tools, you empower them to build digital visibility and excitement, helping them to stand out among competitors.
Source: American Express
3. Improve In-Store Payment and Customer Experience
For the 64% of customers who prefer in-store shopping, creating a memorable in-store experience is essential. Encourage your customers to organize in-store events, such as product demonstrations or mini-workshops, and ensure their payment systems can handle the increased transaction volume smoothly.
Help clients set up contactless and mobile wallet payment options to reduce checkout friction, which is particularly useful during high-traffic events. Additionally, by offering dual pricing or cash discount programs, they can keep transaction costs low—helpful when dealing with a higher sales volume.
4. Recommend Time-Sensitive Promotions
Creating a sense of urgency can drive additional sales. Suggest limited-time discounts, flash sales, or bundle deals to keep customers coming back. For example, a business might offer a “20% off for 3 hours only” sale or surprise flash deals announced on social media. These time-limited offers encourage shoppers to act fast and can significantly boost sales during the day.
You can also discuss ways to leverage loyalty programs to retain first-time customers. A simple thank-you message with a discount code for a future purchase can incentivize customers to return after the event.
Source: American Express
5. Partner for Cross-Promotions and Community Engagement
Suggest that your clients collaborate with other local businesses to create joint marketing campaigns or bundle products and services. For example, if you have several clients in the same neighborhood or industry, they could work together on cross-promotional deals, driving foot traffic between stores and creating a stronger community presence.
Local partnerships reinforce the sense of a supportive community and can also lead to future business for you. These connections can turn into leads as more businesses look to join the growing community of Small Business Saturday participants.
6. Collect Feedback and Plan for the Future
Small Business Saturday provides an excellent opportunity for gathering customer insights. Encourage clients to set up a feedback station, whether digital or in-store, where customers can share their thoughts in exchange for a small discount or free item.
These insights can help you and your customers prepare for future SBS events and other peak shopping days. Additionally, reviewing sales data from SBS can reveal trends and popular items, enabling merchants to refine their inventory and marketing strategies. By helping them analyze these insights, you position yourself as a long-term, data-driven partner.
Source: American Express
7. Offer Post-SBS Support
Following the event, assist clients in maintaining customer relationships. They can send thank-you emails, showcase highlights from the day on social media, or share a sneak peek of upcoming deals to keep the excitement going. This is a great time to introduce clients to tools that streamline follow-up interactions, such as automated invoicing or mobile payment solutions.
Finally, review their Small Business Saturday success metrics, comparing sales data to previous years to assess growth. Offering this post-event analysis demonstrates your investment in their ongoing success and strengthens your position as a reliable partner.
Supporting Small Businesses, Growing Merchant Relationships
Small Business Saturday isn’t just a one-day event; it’s a movement that highlights the importance of supporting local businesses year-round. As a merchant service representative, guiding your clients to make the most of SBS can deepen your relationship and expand your business. By providing them with strategic guidance, innovative payment solutions, and community-driven support, you’re ensuring they maximize this opportunity—and in turn, you’re building a portfolio of loyal, successful customers.
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