American Express is Partnering With TikTok to Help Small-Scale Companies Reach Gen Z Shoppers.
Here's what business owners must be aware of
American Express has been hosting Small Business Saturday since 2010.
To reach Gen Z, businesses have been forced to think outside the box with social media platforms such as TikTok. Based on the Shop 2022 Small(r) Research Study by American Express, 72% of small business owners claimed their customers depend on social media for news from their store and information. More than 88% of them said it helped them attract their customers.
To help businesses reach the younger generation of consumers, American Express is partnering with TikTok in advance of Small Business Saturday. This worldwide movement was created in 2010 by American Express 2010. Small Business Saturday is committed to helping local businesses generate jobs, stimulate the economy, and help make communities better throughout the United States. The event is always on the Saturday following Thanksgiving, and this year is the 26th of November.
The partnership between Amex and TikTok
TikTok is now a preferred platform for locating new companies, with 77% of those who use the app saying TikTok is likely to gift the gift of ideas this year. The collaboration includes American Express and TikTok working together to create the #ShopSmall Accelerator program to assist small-scale businesses in growing.
The Accelerator is an online video toolkit that offers best practices and information for small-scale businesses to connect with Gen Z and Millennial shoppers via TikTok. It will also assist companies in sharing their story authentically and stand out during the coming festive shopping season. TikTok will also provide small businesses that elect to receive a 100-dollar advertising credit to use in the app once they have spent $150 on their initial TikTok ads campaign.
Social media platforms, as well as the credit card issuer, are inviting some creators of social media to get to be involved. The participants in the initiative include Anna Sitar, Brandon Blackwood and Sofia Bella.
Other resources are available to small-sized business
American Express is also kicking off a new campaign this year. In the beginning, as the first launch of a Kabbage Funding reward in the context of Small Business Saturday, there will be the Kabbage Funding with American Express offer, which will offer a $250 bonus from November. 14th, 2022, until February. 28 2023.
The promotion will be offered to all new Kabbage Funding customers who apply and are approved for the Kabbage credit line of funding within the promotional period. Companies do not have to possess an American Express card to benefit from this deal.
Additional Shop Small resources available to business owners include Shop Small Studio, which can be used to design templates for custom marketing materials and black. This platform is specifically designed to help and support the black-owned business sector.
American Express business cards
When businesses participate in the festivities coming up, it is beneficial to have the American Express business card so they can earn rewards on all business-related expenses they have to pay for regardless.
With the American Express(r) Business Gold Card, You can earn 70k Rewards points. Rewards(r) points when you have spent $10,000 on qualified purchases using your Business Gold Card within the first three months of your membership. In addition, you’ll receive four times Membership Rewards(r) on two categories you choose where your company spent the most in a month.
If you’re not a business Amex credit card holder, it might be something new for you too. Although it’s not officially announced previously, in the past, American Express has given cardholders up to $50 in statement credits to spend on small-sized companies, so be looking for this offer if the issuer makes it available.
Bottom line
With rising inflation putting more significant financial pressure on small companies trying to find ways to shop locally is essential. One method American Express hopes to help small-sized businesses on Small Business Saturday is through its collaboration with TikTok, which will provide tools and cash rewards to allow enterprises to promote themselves efficiently.
