From a business perspective, the daily deal market is being flooded by Websites, in which entrepreneurs and store owners of all kinds can offer special sales around the clock. These trendsetters can be, and have historically been, all types of business professionals who clearly see the potential behind what has already taken the internet by storm …Daily Deals!
Groupon, Steepandcheap, and Woot have all exchanged millions of dollars by now, and to say that they are far ahead of the trend would be a complete fallacy. These 3 sites have only, merely capitalized on 3 niches out of millions of starving industries that are begging for a means to move their inventory more efficiently.
As a company we are focused on serving niche marketplaces by providing a platform to base a deal of the day style with ease. We see all sorts of ideas, but in general I wanted to share my knowledge with people and/or companies looking to start a daily deal program:
5 Tips to Keep in Mind
1.) Know your target market and know them well:
It is critical to identify who will be buying and WHY. You must know what they are looking for, and what kind of deal will entice them to come to your site. Not just once, but again and again.
2.) Return business is key!
What type of customer is coming to your site, and what type of products will these people want to come buy at a special price? What arrangement of deals can you put in sequential order so that the product offers will actually build of one another?
ie. “I just bought skis, now I’m going to need some ski boots too.”
3.) Remember that your Daily Deal is a Brand… You must manage it!
Keep in mind that people are going to be talking and telling their friends all about where they got 60% off… Make sure that your brand is memorable and recognizable.
4.) Are you actively supporting your products and caring for your clients?
Make sure that you are taking care of those that helped you financially. Take care of them, tend to them, and have a good attitude! Be as personable as possible, and your clients will come back again and again. Sell them a great relationship on top of a great special offer.
5.) Lastly, what research have you done??
Take a good hard look at what is already out there, and see how you can beat the competition. Do a S.W.O.T analysis for you, as an online business owner, and your brand as a whole. Look at Google Trends and see what keywords are hitting… Look at the news and see reviews and forums on your potential industry. From here, you can see what the people want, and you can then provide it to them with excellence. Solve their problems and give them a great deal, based on what you can learn from your research.
Owning a deal of the day storefront is the perfect virtual asset to have online, especially in these times. For more information please click here.
-Tyler English
HC Consulting Group
HCDesk.com
Bloopio.com
404.939.6011
Thanks loads for this info. 🙂