Localspeak

Small Business Saturday: A Big Bang-for-Your-Buck Theory

24 November 2011

It’s official. Black Friday catalogs have been “leaked” as many bricks and mortar stores prepare for their Midnight shopper openings — that is, for holiday shoppers who enjoy this type of blood sport. In addition, savvy retailers with smart social ROI strategies are launching online sales days well in advance.

Instead of following the daunting trail of Black Friday retail giants, Localspeak took a look at the social barometric climate for Small Business Saturday —the program sponsored by American Express (AmEx), powered by Facebook, and taking place this Saturday, November 26.

Compared to the 138 million Americans who on Black Friday will stroll through shopping malls, an additional 89 million will shop their local retailers in support of Small Business Saturday. Now in its second year, last year the program showed a 28% jump in sales volume by merchant retailers compared to 2009 sales. And yet, many feel that small businesses are worse off now in 2011 than earlier years.

Even in a down economy, where the spirit is willing big things can happen quickly to help create and protect jobs. To wit, the creative effort that pulled this campaign together. At this year’s IAB Mixx Awards, the gala’s top prize for Small Business Saturday—Best in Show honors—went to AmEx OPEN® and CP+B & DIGITAS for creating (in just three weeks) the shopping day of which consumers had never heard.

Here is the Small Business Saturday video produced by American Express.

The NetBase social analytics Top Attributes Chart for Small Business Saturday (shown below) automatically analyzed over 17K sound bites since September. They show passionate consumer language lauding the program, which almost feels like a social movement. This prompted my recalling a quote by Oliver Wendell Holmes Jr. that more than aptly describes the social movement “OccupyWallStreet” currently sweeping the globe:

“Once the mind has been stretched by a new idea, it will never again return to its original size.”

AmEx has invested heavily in Small Business Saturday, promoting the program and supporting its participants, noting that research indicates 93% of consumers want to shop small . Further, to encourage Americans to shop locally at a small business, the program features a Members Project from American Express offering the opportunity to get involved locally by volunteering, donating AmEx points or funds to a charity, and/or voting for a non-profit to win a cash award.

This refreshing private sector initiative casts a web of support over entire communities to make a difference.

Insights:

• What if AmEx were to sponsor local/regional “buy local” initiatives at different intervals throughout the year?

• What if AmEx were to make the program sustainable with partners during the year?

• What if AmEx were to help foster and create, in true social ROI fashion, merchant programs to drive viral outbound sales and lead generation initiatives with local communities?

• What if AmEx were to enlist online non-brand communities to help create sustainable local volunteer, donation or shop-local initiatives?

• What if AmEx were to create periodic Small Business Saturday spin-offs to “buy local” in support of woman-owned or ethnic small businesses?

• What if AmEx were to create ongoing sustainable local volunteer and donation program spin-offs?

• What if AmEx Small Business Saturday was held on another day and not in the frenzied shadow of Black Friday?