If you see a mob of people rushing the doors of your business, you may want to think twice before calling the police. Instead, welcome the Cash Mob.
There is some debate over who originated the concept, but Cash Mobs have been very beneficial to those businesses fortunate enough to get a visit.
Cash Mobs use social media (primarily Twitter and Facebook) to coordinate “events” at local small businesses. The concept is fairly simply…get a bunch of people to spend money (usually a minimum of some sort, say $20, is used) within a very short period of time at one establishment. In fact, replace “cash” with “flash” and you get the idea.
While cash mobs do offer a boost to small businesses, they also have a social element to them. The mobs will oftentimes gather before or after the event to socialize.
What to do…
Unlike my initial sentence, small businesses are typically engaged prior to a cash mob event. If you are approached by someone wanting to “mob” you, first say “yes”, then prepare.
Depending on how much warning you have, consider advertising a sale that day to take advantage of the increased foot traffic. Just having a lot of people in your store increases the overall perception people have.
You could also offer something like 10% off on a total purchase of $20 or more. In fact, even with little to no notice, I would recommend it. It is one small way to say thank you to the mob. In fact, call it the “Thank You Discount”.
