Last-minute tips to prepare for Small Business Saturday
November 20, 2013

The holiday shopping season is just around the corner, and the current economic outlook suggests this year could be especially profitable for small and medium-sized businesses. Investing in high-quality electronic payment systems can allow store owners to the make the most of both a recent spike in consumer confidence and a renewed interest in supporting local enterprises.

According to a report from The Associated Press, U.S. retailers measured a significant increase in sales during October despite previous predictions that the shutdown of the federal government would have consumers holding on to their wallets as much as possible. Instead, the U.S. Department of Commerce said businesses in the retail industry charted 0.4 percent growth in overall revenue during the month. The AP said this measurement indicates shoppers are more than willing to spend money on gifts this year. Not only that, but NBC News reported many small companies around the country are eagerly anticipating Small Business Saturday, a nationwide event the day after Black Friday in which shoppers are encouraged to support local retailers in their neighborhoods.

Small Business Saturday is approaching fast. Here are some last minute tips for store owners who want to maximize the revenue on this important day:

Boost marketing
Such a large-scale event can present unforeseen challenges for companies that fail to get the word out about their unique limited-time offerings. Consumers are likely to be overwhelmed by the amount of promotions during the days after Thanksgiving. As a result, Forbes said small-business owners must do everything they can to enhance their marketing efforts during the weeks leading up to the start of the season.

Offer discounts
Another effective way to attract customers on Small Business Saturday is to give them a good reason to walk through the door. NBC News said many companies are offering limited-time discounts to reward shoppers for supporting the local economy. These marketing tools can have positive impacts on long-term customer retention rates as well.

Invest in the right infrastructure
Preparing for an increase in both in-store and online sales activity requires reliable transaction technology. By investing in tools that make it easier to accept credit card payments from a variety of channels, businesses can maximize revenue and eliminate the need to spend excessive time and resources organizing financial information.

Nexus: G-WEBCD5