Alliance Bank has worked closely over the past 5 months to help small businesses, support non-profits, and celebrate essential workers in our communities. The introduction of Cash Mobs has been their biggest effort to date! A trial Cash Mob on Small Business Saturday in 2019 was very well received. Alliance Bank decided the impact of COVID created a significant need for this program and offered a great way to spark their community!
Hosted at local small businesses, Alliance Bank Cash Mobs encouraged the community to come out and spend locally. These businesses have been forced to close or operate at limited capacity and needed the community’s help, now more than ever. Along with significant advertising on social media and its website for small businesses, Alliance Bank provided shopping vouchers to customers during the Mob. Depending on the business, additional criteria are set (i.e. minimum purchase, gift certificate purchase) that qualifies shoppers to play its ‘Plinko’ game to win additional prizes. These prizes, also provided by Alliance Bank, included: cash, bank swag, local gift certificates, or goods from the Cash Mob business.
Since late July, Alliance Bank has hosted three Cash Mobs and expects to hold 4-6 more in 2020. Alliance Bank is trying to reach at least one business in each of its 7 communities as soon as possible and then begin an ongoing monthly rotation.
The Mobs are a financial investment for Alliance Bank and its Marketing Director works closely with the business owner to prepare for the event. Each Mob requires approximately 12 hours of staff time. Alliance Bank estimates that its initial 3 Cash Mob businesses have had receipts, on average, of $375. As the Mobs gain popularity and the public learns more about them, Alliance Bank expects this number to grow.
There are residual benefits to each business after the Mob as well. The exposure gained during Mob advertising leads to additional business, as do the sale of gift certificates during the Mob. The hope is that the Cash Mobs will create a ripple effect in small communities, reminding residents how important it is to spend locally.
