Have you considered using daily deal sites like Groupon in your small business?
Wondering why you would want to use daily deal sites like Groupon as a marketing strategy for your small business?
Below are 10 ways your business can benefit from using daily deal sites:
1. Get new customers fast – If your business is looking for a way to bring in customers or clients fast, running a deal on a daily deal site is the most effective way to do it. Groupon and others like it can send you tons of new customers that you can then convert into long-term customers. Your return on investment (ROI), in terms of getting new customer in the door, is unmatched compared to other advertising options.
2. Generate cash flow quickly – Need cash in your small business? I’ve never met one who said “no”. Top daily deal sites like Groupon have generated sales in the tens of thousands for many business owners. For me, it was the key strategy that took my struggling coffee and smoothie business from $500K in debt to a 7-figure profitable business. Daily deal sites pay you a large percentage of sales from your deals immediate so you get that cash right away – and when you know how to structure your deal correctly, those customers won’t redeem them immediately giving you time before you have to service them. No other advertising model rivals the rate at which deal sites can inject cash flow into a business.
3. No upfront costs – Deal sites pay for all of the marketing and advertising to bring you new customer for which you’ll pay them a commission or a percentage of the sales for the deals that are sold. This means you don’t have to pay anything upfront to use their services. What other kind of marketing doesn’t cost you anything out of pocket? None. That’s why it’s such a great strategy for cash-strapped businesses. Barring unauthorized purchases or any refunds that buyers submit to the deal site, your advertising expenses produce real results in terms of customer acquisitions and the production of sales.
4. Measurable results – Businesses spend millions of dollars on local radio, television, print, and online advertising campaigns and never see any clear increase in sales, let alone any change in traffic to their local stores. Daily deal marketing is measurable. You’ll know exactly how many deals were sold and how many were redeemed. This way you can easily track the profits and expenses for each voucher sale that’s generated.
5. Increase online visitor traffic – People will check you out before they buy a deal. This means they’ll visit your web site, check you out on social media, and see what the review sites say about you. This can be good or bad so make sure you’re making a good impression in the online world.
6. Gain Facebook & Twitter followers – People love businesses that offer deals to their customers and they’re more willing to hit that “Like” or “Follow” button on Facebook and Twitter because of it. Business owners have reported that their Facebook fans and Twitter followers have increased after being featured on daily deal websites like Groupon.
7. Minimal time commitment – Groupon and other daily deal sites do almost all of the work for you. Your time commitment upfront is limited to gathering a few images and creating some text copy regarding the limitations of your deal offer. The larger daily deal sites have dedicated and experienced staff that will design your deal so it pops off the page and it creates quite a buzz for your establishment. In comparison, effective online advertising requires a much larger investment of time to create the ads, complete the necessary keyword research, and setup conversion tracking.
8. Incredible business exposure – Large social buying sites like Groupon have millions of subscribers and they get just as many website visitors each month. Not only do you get the exposure from the daily deal site, but you’ll find that their subscribers share and/or retweet your deal as well, giving you additional free exposure. This means you’re essentially getting free advertising to boot and lots of more buzz for your business.
9. Highly desirable customer demographic – The average user of daily deal sites like Groupon tend to be educated females with money to spend that are socially active both online and offline. If you’re a local business owner that’s usually a great demographic to have – and those new customers possess a great potential to return to your establishment and share their experience with their friends.
10, Customers are big spenders – According to GrouponWorks.com 73% of customers spend beyond the value of the deal. That means no revenue share with the daily deal site. It means more money to you.
To learn more about daily deal marketing and how you can use it to skyrocket your business growth, register for the Daily Deals for Massive Profits Training Program.
About Stacey Riska
Stacey Riska, aka "Small Business Stacey" is a serial entrepreneur who is passionate about helping small and local business owners get MORE: MORE leads, MORE customers/clients, MORE sales, and MORE money. She transformed her coffee and smoothie business from being $500K in debt to a 7-figure profitable business by using daily deal marketing. Now she teaches others how to skyrocket their business growth and get massive profits. When not saving the small business world, she enjoys sipping red wine, eating chocolate (who doesn't!) and spending time with her amazing husband.