Each year since 1963, National Small Business Week (NSBW) is celebrated in America. And while the dates may change, its important purpose stays the same: investing in your community. This year, NSBW is taking place May 2-May 6.
At TFNB, we’re proud to put our hard-earned dollars to work in our communities by supporting Waco’s entrepreneurs. From using local vendors to supply our lobbies to our bankers enjoying a night on the town at their favorite local restaurant, or even through the work we do to help put financial solutions in their hands—we’re invested in the well-being and growth of local businesses.
If you’re a small business owner in Waco, now is a good time to start planning how you’ll promote your business and engage customers during this year’s holiday. Here are some strategies to get you started.
Offer a Discount to Commemorate the Holiday
Who doesn’t love a deal? People love saving money, but offering a sweet incentive like this can be hard if you’re a small business owner with razor-thin profit margins. Thankfully, there are several ways you can do this and improve your bottom line.
Consider offering deals on inventory you’ve had trouble moving in the last year to help boost profitability. Instead of buy-one-get-one-free deals, you could offer a discount on a future purchase or a gift card as an incentive to get customers to return and shop with you. If this isn’t possible, consider swag and small customer appreciation gifts you can add to customers’ orders, like a branded mug, hat, or t-shirt.
If you have an online-only business, you could host a free virtual event or webinar. You might also consider offering flash sale deals that expire after a certain time, with a cap on the number of orders. Just think of something that aligns with your business and use it as a way to thank your customers and remind them of your brand.
Start Getting Social
Customers want to feel connected to the businesses they support, so using social to engage your community can boost your business’s visibility and might just drive sales—this week and year-round.
You’ve got a week to plan, so start creating a strategy about how you’re going to promote your business this upcoming NSBW. This can be as simple as publishing a promotional post to let customers know about upcoming deals and events you plan to offer during the holiday. Or you could share video or text-only posts about your business’s story and how you’ve overcome challenges in the past few years thanks to your customers’ support.
And don’t forget to use the Small Business Administration’s official Small Business Week hashtag to make sure everyone sees your posts. The promotional materials the agency provides, which include social media graphics, also can take a lot of the work off your plate.
Team Up With Another Local Small Business
In a small community like Waco, it’s important to work with your business neighbors. Consider joining forces with another small business this upcoming holiday. This can not only expand your consumer base, but it can help drive sales too.
For example, a jewelry store could increase its exposure by setting up a display at a local spa and providing 10 percent off coupons to all spa customers.
Look to collaborate with businesses that reach a similar audience, so your products and services complement nicely—without competing.
Invest In Education
Throughout NSBW, the SBA usually hosts free webinars to help you learn new skills and increase your impact.
At TFNB, we’ve also have an arsenal of free resources to help you sharpen your business savvy skills. Whether you want to learn about small business essentials, treasury management, SBA loans, or how to write a business plan, you can find everything an entrepreneur needs to know in our knowledge center.
Happy National Small Business Week!
This National Small Business Week, we want to thank our small business family. Not only do you make this community unique, but you help Waco thrive thanks to your investment in our area.
Hopefully, these ideas will give you some ideas to take advantage of the holiday.
At TFNB, our mission is to help support small businesses this week—and for all the years to come. Whether you want to grow your business or maintain your current success, we have products and services to help you build the future you envision.
To meet bankers who understand your needs as a small business owner, visit your closest TFNB location. Like with Di Campli’s Italian Ristorante, or Waco Ale Company, we’d love to hear about your goals and help you get the right banking services to make them happen.
If you have any questions or would like to know more about our banking solutions, contact us at 254-840-2836
