Guest post by Megan Totka of ChamberofCommerce.com
Exploring a new way to Pay it Forward
So typically, this blog focuses on great things that companies do for others – customers as well as employees. I find both the Green and Purple Goldfish Project to be so interesting and they give great ideas about what businesses both small and large can do to retain not only their customer base but also build loyalty among employees.
I recently came across an idea that actually has the customers turning the tables on great local businesses. This seems to fit perfectly with the idea of harmony between customers, businesses, and employees. Most people have heard of the concept of a flash mob, where people gather in a pre-determined location and cause some sort of scene – dancing being the most popular, but other examples include dressing like store employees and mobbing a store, as well as putting on impromptu performances in public places. The article I found addresses a new phenomenon that is similar, called a cash mob.
What is a Cash Mob?
The concept of a cash mob is pretty simple and similar to that of a flash mob. Cash mob organizers encourage people to bring $20 or more to a designated local business on a specific date and time. The business could really be anything – from a local card shop to a favorite restaurant. The idea is to give the business an unexpected influx of cash on a random day. Most of the time it seems that the business owners who are the ones set to be mobbed do not know that this will be happening, although some organizers choose to warn them ahead of time.
Who Organizes a Cash Mob?
Anyone! This is the beauty of a cash mob (flash mobs as well). Any person with an idea for a business to mob and 1 or more social media accounts can organize a cash mob. Some key factors to get people to participate would be letting them know what great things this particular business has to offer, or that the business is in a crunch and could really use the help. The articles I found regarding cash mobs noted that often businesses that are mobbed are able to double or triple their sales in comparison to a typical day. This helps local businesses to stay afloat in economic times that are slowly getting better, but still stagnant on a good day.
According to the site cashmob.com, several events are scheduled in the next few weeks in the New York City area.
Helping those in need
I honestly could not think of a better way to help out local businesses who may be struggling in the wake of the devastation that was Hurricane Sandy. At the beginning of this year there was a cash mob in Brooklyn that inspired small businesses in the area. Hopefully the cash mobs scheduled in the New York City area have the same effect.
If starting a cash mob appeals to you, there is really no better time to do it than now. With the intense holiday shopping season descending quickly, many small businesses may be feeling the crunch. It’s particularly hard for smaller businesses to compete with the big box retailers. This is a great way to help businesses stay afloat and even prosper through the holiday season!
Megan Totka is the Chief Editor for www.chamberofcommerce.com. ChamberofCommerce.com helps small businesses grow their business on the web and connects local businesses to their local Chamber of Commerce.
