American Express, TikTok Team Up on #ShopSmall Accelerator – IGWIIKI

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American Express is marking its 13th annual Small Business Saturday Nov. 26 by teaming up with TikTok on the #ShopSmall Accelerator.

The video toolkit provides small and midsized businesses with best practices and resources to reach Generation Z and millennial shoppers via the video creation platform during the holiday shopping season, as well as to share their stories in an authentic manner.

Eligible SMBs can also earn a $100 TikTok ad credit after spending $50 on their first ad campaign on the platform.

As part of #ShopSmall Accelerator, lifestyle creators Sofia Bella and Anna Sitar will team up with SMB owner Brandon Blackwood to teach SMB owners: how to use TikTok as a search engine; how to leverage communities, hashtags, sounds and trends; and how to drive engagement.

Musical artist Chlöe Bailey also teamed up with American Express on a “Shop Small Soundtrack” for TikTok users to add to their content.

American Express shared some findings from its 2022 American Express Shop Small Impact study, which was released Monday:

  • 72% of SMB owners are concerned about the impact of inflation on their business this year.
  • 61% said the current economy is making it even harder for them to compete with big retailers.
  • 96% of SMB owners on social platforms believe those platforms have had a positive impact on revenue over the past year, and 45% said their business would struggle to survive without it.
  • 82% of SMB owners on social platforms have increased their presence on social channels over the past year.
  • SMB owners attribute 57% of their overall sales to Gen-Z and millennials.

TikTok global head of business marketing Sofia Hernandez said in a statement, “More and more American small businesses are turning to TikTok to take us inside their world in a fun, authentic way and, as a result, they are reaching new customers, hiring more employees and growing their business. The real-world impact is undeniable, with 44% of TikTok users saying that they discovered something on the platform and immediately went out to buy it, according to our Global Retail Path to Purchase Study. This holiday season, the TikTok community is ready to #ShopSmall and support small businesses.”

American Express vice president, Small Business Saturday and Shop Small Marianne Rausch added, “The mission of Small Business Saturday has never been more vital, as small business owners need our continued support this holiday season and beyond. This year, we want to help small business owners reach a new generation of shoppers, which is why we are excited to partner with TikTok on this accelerator, which provides businesses with the tools they need to create content that can help expand their customer base. According to our Shop Small Impact study data, nearly nine-in-10 small business owners (88%) say social media has helped them to find new customers this past year.”

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