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Published November 08, 2018
A weekly look at issues facing Wyoming business owners and entrepreneurs from the Wyoming Small Business Development Center (SBDC) Network, a collection of business assistance programs at the University of Wyoming.
Saturday, Nov. 24, is Small Business Saturday, which is often the biggest shopping day of the year for local retailers and downtown shops. But, really, every day should be small business day. Every dollar spent in a local small business keeps 60 cents circulating in the community, compared to just six cents with a big box retailer. So what can you do to capitalize on Small Business Saturday and keep customers coming back?
Offer a Deal
Most holiday shoppers are looking for a bargain. Offer a discount on products, or throw in a gift with their purchase to get them through your doors. However, reducing your prices too much can actually discourage shoppers from returning later when the prices aren’t as low.
Leave a Good Impression
A 2017 American Express survey found that consumers are willing to spend 17 percent more at businesses that deliver excellent customer service. Make sure the atmosphere of your shop is welcoming and highlights your passion for the products or services you offer.
Work with Other Small Businesses
If it’s done the right way, you’ll find that banding together with other small businesses can be a win-win situation. Work with your local downtown or main street organizations to create incentives for shoppers during the holiday season and throughout the year.
The Wyoming SBDC Network can help you put together a balanced and effective promotion for Small Business Saturday. Visit www.wyomingsbdc.org to get in contact with your local adviser for no-cost, confidential assistance. You also can find more information about preparing for Small Business Saturday right now in the blog section of our website.
The Wyoming SBDC Network offers business expertise to help Wyoming residents think about, launch, grow, reinvent or exit their business. The Wyoming SBDC Network is hosted by UW with state funds from the Wyoming Business Council and funded, in part, through a cooperative agreement with the U.S. Small Business Administration.
To ask a question, call 1-800-348-5194, email firstname.lastname@example.org, or write 1000 E. University Ave., Dept. 3922, Laramie, WY, 82071-3922.