Small Business News

American Express Teams with TikTok for #ShopSmall Accelerator

With the 2022 edition of Small Business Saturday just weeks away (taking place on November 26th this year), American Express is looking to help businesses find new ways to reach customers. As part of this effort, the company has announced a partnership with the popular, youth-skewing app TikTok. Together, the two brands have created the #ShopSmall Accelerator.

Through this program, the two companies are looking to assist small businesses in reaching “a new generation of shoppers” this Small Business Saturday and beyond. Starting today, businesses will have access to tools and resources featuring TikTok creators, including Anna Sitar and Sofia Bella, as well as small business owner Brandon Blackwood.

As part of the Accelerator, businesses can also take advantage of a $100 TikTok advertising credit offer. To earn this credit, new TikTok advertisers in the United States will need to enroll by December 24th and complete an ad purchase of $50 or more within 28 days of receiving their offer details via email.

Announcing the promotion, American Express CMO Elizabeth Rutledge said of the offering, “The #ShopSmall Accelerator will help give small merchants the tools they need to reach the next generation of consumers on TikTok, where our Shop Small Impact Study found that 67% of Gen Z users have shopped from a small business that was displayed on their For You Page.” Rurledge added, “Shopping small has a significant impact on helping local communities, with two-thirds of every dollar spent at small businesses staying within the local community.”

Additionally, TikTok’s Global Head of Business Marketing Sofia Hernandez stated, “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.”

Although the goals of the #ShopSmall Accelerators are certainly noble, Amex’s partnership with TikTok comes as the social media app is gaining renewed scrutiny among lawmakers and other officials. While the direst of impacts — including a proposed ban of the app — are unlikely to be realized any time soon, the bad press could certainly taint the opinions of small business owners when it comes to using and advertising on the platform. Nevertheless, the power of TikTok has been seen again and again, making it a potential tool for small businesses. With that, those interested in the Accelerator should check out American Express’s site to get started.