To reach Gen Z, businesses have had to get creative with social media platforms, like TikTok. According to the 2022 Shop Small® Impact Study from American Express, 72{8ba6a1175a1c659bbdaa9a04b06717769bcea92c0fdf198d429188ebbca09471} of small business owners said their customers rely on social media channels for store news, and almost 88{8ba6a1175a1c659bbdaa9a04b06717769bcea92c0fdf198d429188ebbca09471} said it has helped them find their new customers.
So to help businesses reach the next generation of consumers, American Express is partnering with TikTok ahead of Small Business Saturday, a global movement founded by American Express in 2010. Small Business Saturday is dedicated to supporting local businesses that create job opportunities, stimulate the economy and make neighborhoods better around the country. It’s always held on the Saturday after Thanksgiving, which this year will be November 26.
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Amex’s partnership with TikTok
TikTok has become a go-to platform for finding new businesses with 77{8ba6a1175a1c659bbdaa9a04b06717769bcea92c0fdf198d429188ebbca09471} of people on the app saying that TikTok is likely to give them gift ideas this year. The partnership involves American Express and TikTok working together to launch the #ShopSmall Accelerator to help small businesses grow.
The Accelerator is a video toolkit that provides best practices and resources for small businesses so they can reach Gen Z and Millennial shoppers on TikTok. The product will also help businesses tell their stories authentically and stand out in the impending holiday shopping season. TikTok will also offer eligible small businesses a $100 ad credit to use on the app after they spend $50 on their first TikTok Ads campaign.
The social media platform and credit card issuer are also getting some social media creators involved. Included in the project are Anna Sitar, Brandon Blackwood and Sofia Bella.
Other resources available to small businesses
American Express is also kicking off a new initiative this year. As the first introduction of a Kabbage Funding reward as part of Small Business Saturday, there will be a Kabbage Funding from American Express offer, which includes a $250 incentive from Nov. 14, 2022 to Feb. 28, 2023.
The offer will be available for new Kabbage Funding customers that apply and get approved for a Kabbage funding line of credit during the specified promotional period. Businesses do not need to have an American Express card to take advantage of this offer.
Other Shop Small resources available to business owners include the Shop Small Studio, which provides templates to create customized marketing materials, and ByBlack, which is a platform designed specifically to support and bolster Black-owned businesses.
American Express business cards
While businesses partake in the upcoming festivities, they might find it wise to use an American Express business card so they can earn rewards for any business-related expenses they might incur they need to make anyway.
With the American Express® Business Gold Card, you can earn 70,000 Membership Rewards® points after you spend $10,000 on eligible purchases with the Business Gold Card within the first three months of membership. You’ll also get 4X Membership Rewards® on the two select categories where your business spent the most each month.
American Express® Business Gold Card
On the American Express secure site
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Rewards
Get more rewards with 4X Membership Rewards® points on two select categories where you spend the most each month and 25{8ba6a1175a1c659bbdaa9a04b06717769bcea92c0fdf198d429188ebbca09471} points back after you book a flight using Pay with Points (up to 250,000 points back per calendar year).
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Welcome bonus
Earn 70,000 Membership Rewards points after you spend $10,000 on eligible purchases within the first three months of card membership
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Annual fee
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Intro APR
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Regular APR
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Balance transfer fee
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Foreign transaction fee
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Credit needed
The Business Platinum Card® from American Express
On the American Express secure site
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Rewards
Earn 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com and 1X points for each dollar you spend on eligible purchases. Also, earn 1.5X points (that’s an extra half point per dollar) on eligible purchases at US construction material & hardware suppliers, electronic goods retailers and software & cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year.
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Welcome bonus
Earn 120,000 Membership Rewards® points after you spend $15,000 on eligible purchases within the first 3 months of card membership
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Annual fee
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Intro APR
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Regular APR
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Balance transfer fee
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Foreign transaction fee
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Credit needed
The Blue Business® Plus Credit Card from American Express
On the American Express secure site
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Rewards
Earn 2X Membership Rewards® points on everyday business purchases up to $50,000 per year, then 1X point per dollar
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Welcome bonus
Earn 15,000 Membership Reward Points® after you spend $3,000 in eligible purchases on the card within your first 3 months of card membership.
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Annual fee
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Intro APR
0{8ba6a1175a1c659bbdaa9a04b06717769bcea92c0fdf198d429188ebbca09471} for 12 months on purchases from date of account opening
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Regular APR
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Balance transfer fee
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Foreign transaction fee
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Credit needed
And if you’re a non-business Amex cardholder, there could be something special in store for you as well. Although not announced yet, in previous years, American Express has given cardholders up to $50 back in statement credits to shop small businesses, so be on the lookout for that offer in case the issuer offers if again.
Bottom line
With inflation putting more financial pressure on small businesses, finding ways to shop small is important. One way American Express hopes to help small businesses this Small Business Saturday is through its partnership with TikTok, which will include cash incentives and a toolkit to help businesses market themselves effectively.
Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.
