Almost 70% of Small Businesses Are Running Holiday Promotions. Here Are 3 to Consider

It pays to put these on your list.

We're pretty much getting into the thick of the holiday shopping season, and that's a time when customers are typically more willing to open up their wallets or swipe their credit cards. It's also a time when consumers generally expect some sort of bargain when they go out to shop. And as a small business owner, that's something you should aim to capitalize on.

In a recent survey by Incfile, nearly 70% of small business owners said they'll be running holiday promotions. And that's a smart idea.

If you want to drum up revenue for your small business, it pays to follow their lead. Here are some promotions you might consider offering.

1. Free gift cards or store dollars with a purchase

Some business owners offer discounts on purchases to entice customers to buy things (or buy more things). That's not a bad tactic. But what might happen then is that customers flock to your place of business to snag those deals and then stay away for months.

That's why you may want to offer up a free gift card or free store dollars with a purchase during the holidays that can be redeemed in early 2023. Doing so is a great way to get customers back in the door at a time when things may not be as busy. If a given customer has a $15 gift card, or $15 in store dollars, they might come in and spend $60 or $70.

2. Buy one, get one free

If you have excess inventory you're looking to unload, then it pays to consider a buy one, get one free promotion -- or a buy one, get one half off deal if you can't afford to completely give goods away for free. Keep in mind, though, that this deal really only makes sense for you if you're looking to clear your shelves of inventory and make room for new products.

In fact, a lot of small businesses are still having trouble accessing inventory due to continued supply chain shortages. If that's the boat you're in, you may want to pass on this specific promotion and come up with another one that's easier for you to pull off.

3. Discounts for Small Business Saturday

Small Business Saturday might appeal to some consumers, so you may want to offer targeted deals for that day alone -- things like discounts on specific items or even general discounts, like 10% off a purchase of $100 or more. Many people opt to skip out on Black Friday shopping because they don't want to have to battle crowds (or because they want to sleep in and spend the day relaxing after a late Thanksgiving dinner). But come Small Business Saturday, shoppers may be eager to get back out there, so it pays to capitalize on that if you can.

Running promotions for your small business is a great way to encourage people to come by and spend money. Consider these options to boost your revenue toward the end of the year -- and close out 2022 in a much better place financially.