It’s easy for small- to medium-sized businesses (SMBs) to get lost in the holiday hullabaloo, but several major players in finance and social networks are offering ways for these retailers to get their share of the pie (apple, pumpkin or mincemeat, your pick):
- American Express (Amex) and TikTok have launched the #ShopSmall Accelerator to help SMBs reach new audiences beginning on Small Business Saturday, which this year falls on Nov. 26, 2022;
- Amex and Square, the payment platform popular with small businesses, have expanded their relationship and plan to launch a new credit card in 2023 built specifically for Squaresellers on the Amex network;
- Facebook and Instagram parent Meta is providing resources, education and training for Black-Owned SMBs with the third edition of its #BuyBlack Friday site; and
- Meta also will highlight businesses from its Meta Business Leaders Network in the new 2022 Smalliday Showcase gift guide, and provide small businesses with advice on advertising effectively with its SMB Holiday Marketing Guide.
On the #ShopSmall Accelerator, lifestyle creators Anna Sitar and Sofia Bella, along with small business owner Brandon Blackwood, will teach SMB owners how to use TikTok as a search engine; leverage sounds, trends, hashtags and communities; and drive user engagement. Amex also has partnered with musical artist Chlöe Bailey to create a “Shop Small Soundtrack” that TikTok users can add to their content. Additionally, eligible SMBs will be able to earn a $100 TikTok advertising credit.
“The #ShopSmall Accelerator will help give small merchants the tools they need to reach the next generation of consumers on TikTok, where our Shop Small Impact Study found that 67% of Gen Z users have shopped from a small business that was displayed on their For You Page,” said Elizabeth Rutledge, Chief Marketing Officer at American Express in a statement. “Shopping small has a significant impact on helping local communities, with two-thirds of every dollar spent at small businesses staying within the local community. Last year, consumers reported spending more than $23 billion shopping small on Small Business Saturday, and we want to exceed that in 2022.”
The new Square-specific Amex credit card, which will be powered by i2c Inc. and issued by Celtic Bank, will be the first credit card Square offers to U.S. small business owners. It will integrate directly with Square’s solution ecosystem, empowering sellers to organize their finances and manage cash flow from the same platform they use to run their business. Square plans to announce additional details about the card in 2023.
Multiple Meta Resources
For the third straight year, executives at Black-owned SMBs can visit the #BuyBlack Friday site to scheduled and receive 1:1 marketing support. The website also highlights several Black SMB owners offering personal tips and guidance on how they’ve found success using Meta’s business tools.
The Meta Boost Leaders Network Holiday Gift Guide, which will launch Nov. 21, is designed to encourage people to support SMBs throughout the holiday season, and those shopping the guide will have access to special holiday promotions and discounts.
The SMB Holiday Marketing Guide offers advice on using Meta’s tools and products to help retailers meet shoppers’ expectations and grow sales. It will include the Holiday 2022 Meta Foresight Interactive Report, offering insights from the 2019, 2020 and 2021 holiday seasons across 33 key markets as well as tips on turning new holiday customers into returning shoppers after the season ends.