February 26, 2024 Update: Updated “subscribe” language for consumers to “follow” local businesses.
Today, we’re excited to introduce enhancements to Venmo business profiles, offering more personalized and rewarding experiences that bring local businesses and consumers closer than ever before. As small businesses strive to reach and engage loyal customers to grow their business, and consumers seek to shop locally and access deals, Venmo is uniquely positioned to connect these communities through new business profile features that address these needs.
If you’re a small business, you rely on word-of-mouth, social media, and reviews on other sites for referrals. But it’s hard to stand out on social, and one bad review, legitimate or not, can set your business back. Enhancements made to Venmo business profiles offer powerful new ways to help businesses attract new and existing customers to drive traffic, generate sales, and more meaningfully grow their business. Here’s what business profile users can expect from Venmo’s new business profile experience:
Research shows that 90% of consumers go out of their way to do business locally1, and 92% of consumers regularly seek out coupons or discount codes whether shopping online or in-store2. While consumers want to support local businesses in their community, they often rely on peer recommendations to discover new places to shop or book services. Through enhancements to Venmo business profiles, consumers can:
The new Venmo business profile experience is currently piloting in Seattle and will be available across the U.S. in the coming months. For more information, click here.
DDon’t have a Venmo account? Creating one is free and easy – sign up online or download the Venmo app through the Apple or Google Play app stores. Learn how to sign up for a Venmo business profile if you're a business.
1Podium 2022 Local Business Trends Report
2Savings.com 2023 Consumer Survey
Help grow your small business with Venmo: Business profiles are officially available for all sellers
Venmo Launches Limited Pilot of New Tools for Sole Proprietors with the Introduction of Business Profiles
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