Do you wake up every morning and check your inbox to see what the latest online deals are? If so, you’re like me – and I’m starting to think I have a problem.
If you’re not sure what I’m talking about, then you haven’t yet been exposed to the wonder of the Group Discount Site, such as Groupon, TeamBuy, and LivingSocial just to name a few.
These websites work by offering a city-specific, limited-time deal (typically one a day) which must be purchased by a minimum number of people to make it happen. The deals are delivered by email each day and usually offer more than 50% off a product or service, so they almost always sell enough to push the deal through.
What does this mean for your small business? To put it bluntly – a HUGE influx of customers.
Consider this – your business offer gets delivered directly to the inboxes of thousands of people who are looking for great deals. Not only that, but these deal sites encourage their subscribers to refer their friends and reward them for referrals that purchase deals. You get to capitalize on the social nature of the site to expand your reach even further.
The diversity of the types of businesses using this type of promotion is impressive. Through these sites, I’ve bought everything from diving lessons, to house cleaning, to wine making to dining out.
Bottom line – if you’re looking to grab new customers, a group discount site might be a great option for you. Just make sure that you decide how much business you can handle and set a limit on the number of deals you’ll put up for grabs. Some of these businesses are now backed up for months!
Have you promoted your business on a group discount site? Or, have you signed up for one? What kind of deals appeal to you?