Small Business Saturday — Five Years Strong

first_imgHistorically, while big box retailers have spent countless marketing dollars spotlighting their Black Friday deals and attracting shoppers, smaller retailers with fewer advertising dollars were handcuffed to their own small marketing budgets. In recent years, small retailers have embraced “Small Business Saturday,” a movement that offers shoppers an alternative to the doorbusters offered by big box stores. Through a mix of social media and word of mouth, what started as an initiative by American Express in 2010 to support small business marketing efforts ended up becoming a cultural and economic movement. In 2011, the U.S. Senate officially recognized the day and it has been developing momentum ever since.Powering Up Small BusinessAs the movement has grown, shoppers have embraced the day and opened their wallets up to small businesses. In 2013, shoppers spent an estimated $5.7 billion on Small Business Saturday. The rapid evolution of point of sale (POS) systems is a big reason why small business is booming. Innovative new technology, like tablets or 2-in-1s allow businesses to offer easy ways for their customers to make purchases. While older POS machines generally had limited functionality, newer systems integrate inventory control, timesheets, communication, and more. In addition to expanded functionality and business integration, new POS technologies have untethered businesses from their storefronts. Now that inexpensive payment dongles have transformed mobile phones and tablets into mobile POS machines, small retailers don’t have to be confined to a brick and mortar.Small, But Smarter Than EverWith small businesses turning toward data-centric solutions, it’s clear that big data isn’t just for big business. In addition to advances in POS technology, small businesses are taking advantage of new cloud customer relationship management (CRM) solutions that aggregate customer demographics, purchase history, and payment preferences. These dashboards also integrate social media trends, project management functionality to deliver a rich snapshot of the business.While many large enterprises can be slow to adopt new technologies, small businesses are uniquely positioned to take advantage of new products and offerings as they emerge. By leveraging this flexibility to adapt to a changing business landscape, small businesses can stay competitive and sharp.Check out Intel Small Business to learn more about how your small business can take advantage of a changing technological landscape. The power of small businesses cannot be overstated; the most recent census revealed that nearly 90% of the 5.7 million employer firms in the United States had fewer than 20 employees. Small businesses account for nearly half of the GDP, and many economists believe this group holds the keys to a successful economic recovery. However, in order to gain traction and new customers, small businesses need as much marketing help as they can get.last_img

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