great article and practical tips for marketing when branding and communicating – just think of the humble speed sign, check it out ‘four marketing lessons at 60kms/hr, what your business can learn from a speed sign‘
Category: Marketing Communication and Advertising
JumpOnIt, Deals/Zoupon, LivingSocial, Scoopon, Groupon, Cudo – daily deals group buying sites are exploding in popularity, but what benefit do they really offer to small business, and is there more downside than up?
As a small business marketing consultant, and an avid buyer of consumer ‘deals’ from these group sites, I wondered how small businesses could be making money out of these ‘too good to be true’ deals and what marketing and business benefits had been achieved, so I sought the perspective of a number of small businesses who have engaged in this marketing approach.
Can you attract too many customers?
Following an article ‘Daily Deals on Group buying sites – is there real benefit to small business?’ where Marketing Space profiled the experience of a range of small businesses and their experiences with group or deal based buying sites, here are some key lessons and tips to consider for marketing via group or deal based buying sites:
- Capacity – what volume can you deliver and afford? Should you cap your deal to XX sales? Don’t damage your business and brand by overselling your services and not being able to meet the customer demand.
- Redemption – most businesses report that customers who redeem or use their voucher are at least 20-30% lower than the actual volume of vouchers sold. This could be a good thing to provide you with the revenue and yet not have to resource the offer, but could be a negative if you are relying on these leads driving more leads and repeat business! More
As an alternative to the popularity of daily deals through group buying sites, TrueLocal have introduced a new capability for small businesses to add a deal to their business listing, for free!
So when people look at your business listing details, they will also see a ‘deal’ if you have added one (valid for up to 90 days). And as a bonus, the latest deals are featured randomly on the homepage of TrueLocal (www.truelocal.com.au).
So if your small business is on the lookout for free marketing, take advantage of this – and that’s not to say all free marketing is worthwhile, but if the TrueLocal website is a good potential traffic source for your business as a popular business directory in Australia, then it’s worth giving it a go, surely! More