According to the Small Business Administration, 54 percent of all U.S. sales annually happen at small businesses. This Saturday, the 23 million small and family-owned businesses in the United States will welcome customers new and old in an attempt to get their slice of that number, celebrating the six-year-old “shop small” tradition.
So, how can your family business make the most of Small Business Saturday? Mary Nicoletti, Director of the Initiative for Family Business and Entrepreneurship at Saint Joseph’s University, offers tips:
1. Partner with other small businesses on your block/streetCombine marketing efforts and promote your neighborhood as a Small Business Saturday destination/business district. Partner with local musicians, artists and restaurants to entice shoppers with live entertainment, food/beverage samples and special events.
2. Deliver on experienceSmall Business Saturday is a time when many who don't usually shop small will. Use this time to stand out from the big box stores. Be creative and take the opportunity to let people really experience your brand.
3. Don't be afraid to market your family-ness and tell your family's story. If done in an authentic way, sharing your family business's values, history and legacy can create an emotional connection with your customers. Tell that story through your store (or online) experience - consider using historical photos, a multimedia display, or a video or written account about your family business' legacy or founding entrepreneur.
4. Highlight how your family business gives backMany small businesses partner with charities around holiday time, and Small Business Saturday is a great opportunity to feature the stories of how your business gives back to and benefits the community.
5. Don't shy away from online!A large number of people shy away from the holiday shopping crowds for the convenience of an online experience. Make sure your website is prepared for online shoppers and use social media channels to promote online opportunities to support Small Business Saturday.
The Initiative for Family Business & Entrepreneurship (IFBE) at Saint Joseph’s University provides entrepreneurial families the support, guidance and tools necessary to increase long-term competitiveness, ownership prosperity and family unity for generations to come. Backed by the thought leadership of the nationally ranked Haub School of Business, the IFBE incorporates interactive education in family business, with a deliberate focus on peer-based learning and accountability. The IFBE brings together the dynamic regional family business community and cultivates learning opportunities and relationships that help families develop a robust network of family business peers, trusted advisors and tools to promote successful transitions.
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