The Saturday which comes between Black Friday and Cyber Monday, right after Thanksgiving, is an important day for small businesses all across the world. From the UK to the US and down to Australia, small businesses are always looking forward to this day because as has been witnessed in the past, sales can soar out of proportions on this very day!
Also known as Small Business Saturday or just SBS, the whole thing started about seven years ago to provide small businesses with a special day when they could meet the demands of their customers during the busy holiday shopping season.
In 2014, at least 88 million customers shopped small on SBS, a 14.9 percent increase from the previous year. In total, these shoppers spent a whopping $14.3 billion! There is evidence that the figures for 2015 were even higher.
Did you hit your targets this Small Business Saturday?
The question, however, is not how many sales were made all across the U.S. but how much your business made and whether you hit your targets. Considering that most of the sales are usually made online, we also hope that you are allowing customers to use credit cards at checkout on your e-store. Otherwise, you could be missing out on a lot of money. Simply get a high risk credit card processing account from highrisk-merchantaccount.com and get started on safe, secure online transactions.
So, back to topic, here is how to measure your Small Business Saturday marketing performance.
- Determine what you gained
SBS is all about making sales, plenty of them. All the preparation and shop setup should be done early on. When the curtains are drawn at the end of the day, go straight to your sales records to determine how much you made.
There are three things to you need to pay particular attention to; your expenditure, your revenue, and the profits.
- Did you hit all your targets?
Every small business usually sets goals for SBS. When the curtains are drawn at the close of sales, you also need to review your performance and see whether you achieved your goals. For goals that weren’t met, what can you do to improve chances of success in the future?
- Did you learn anything from your customers?
Finally, always think about what you learned from the customers. If a majority of customers are praising your products and services but complaining that you haven’t been available most of the year, you know what to do.