Methods To Make Money In The Daily Deal Industry

On Wednesday, we discussed 5 methods to generate revenue by running a daily deal aggregator website, and today we are going to be broadening the spectrum and discussing ways that people are generating revenue from the daily deal industry as a whole.

There are a lot of various areas that one can get involved the daily deal industry.

Be A Publisher.  The most obvious way to get involved the DOD industry would be to create and launch your own daily deal website.  There are daily deal sites in existence in many geographic locations as well as niche markets, but that does not mean that the potential to create and launch your own daily deal site is still not very much doable with the potential to pull profits.

A few months back I discussed 18 Business Ideas and many of  those ideas are for niche specific daily deal sites…  Since writing that post a few of the daily deal ideas have materialized, but many have not – and the potential for you to create your own daily deal website, put a unique spin on it or choose a fresh geographic location is wide open.  Especially as the holiday season approaches, the daily deal industry will continue to grow.

You could use DailyDealBuilder.com, our pre-built daily deal software that allows you to have a proven platform and technology up and running quickly to allow for a quicker launch.  We provide example contracts to lock deals in with, HC Traffic Pro traffic software to help you get eyeballs to your site, and full support to help ensure you are making the right moves…  We also negotiate and have a deal feed through iCouponOnline where we can run deals through your website for you and you focus solely on driving traffic and getting eyeballs to view your website.

You could also develop your daily deal site from scratch, but I highly recommend to use a service like Daily Deal Builder, even if you want to fully customize it – as you won’t be building from scratch –  but instead from a platformready to be launched.  With DailyDealBuilder – we give you full capability to customize and update your website if you desire to – or – you could simply stick with the out of the box solution, because it works and does the job needed to do.

As a daily deal publisher, you will typically generate revenue by getting a percentage of the deal that is offered on your website.  There is no set-in-stone industry rate that publishers get, but the average that I have seen is that most daily deal publishers strive to get 25%-50% of the revenue generated from selling a deal on their site.

Run a Daily Deal Aggregator Site.  If you have followed my blog, you will have noticed that the past week we have discussed the benefits and potential future value to run a daily deal aggregator website that pulls deals from the most popular daily deal sites on the web.  Running a daily deal aggregator really makes sense for the end consumer because people don’t want to subscribe to 20 different daily deal sites, when they could subscribe to one or two aggregator websites that show them all of the deals from their favorite places.

This has been, and will continue to be a HUGE opening in the daily deal industry to allow you to easily get involved and begin to cut yourself in on the massive pie, as witnessed by Google just recently acquiring dealmap.

You could use a DODAggregator.com, our pre-built daily deal aggregator platform that allows you to run a deal aggregator basically on autopilot.  You could generate revenue from running an aggregator through affiliate commissions (when & where applicable), Advertisement revenue, list management, Joint Venture Opportunities, and social media.

Other types of Aggregation.  There are other forms of aggregation that you can do to get involved in the daily deal industry.  You can aggregate and report on news in the daily deal industry, such as DailyDealMedia.com.

You could aggregate daily deal companies and host an event.  We will be at the Daily Deal Summit in Chicago, Sept. 8th & 9th, 2011 (let us know if you plan on attending also).

Sell A Product or Service On A Daily Deal Site.  If you run a store or have services or products, you could feature one of your products or services for a discount on a daily deal website.  If you do feature one of your products or services, you will have to offer it at a discount (usually 40%-90% retail value) and you will typically have to cut the daily deal publisher into the mix.

You need to be sure you carefully figure out a maximum number that you are willing to sell, and potentially a minimum number (if the daily deal site uses group buying power).

There have been many scenarios where businesses have gone into the hole by featuring one of their products or services on a daily deal – but there are hundreds of examples where the merchant came out very well.

Just be sure to do your homework and have a good follow up plan to make the coupon purchasers – repeat customers.  Also be sure to have your terms and conditions mapped out very clearly in advance.  You could run a deal through our network of publishers by emailing deals@dailydealbuilder.com.

Deal Broker / Sales Rep.  You could generate revenue in the daily deal industry by brokering deals with merchants and daily deal publishers.  You could potentially do this as free lance work – but your best bet would be to get in touch with a daily deal site in your geographic region and work for the daily deal site.  You will probably earn a salary and have it coupled with commissions based on the deals that you set up.

Capital.  One of the ways to create economic value is to use capital to invest in a business by purchasing an ownership stake in a business, then collect a corresponding portion of the profit as a one-time payout or ongoing dividend.  There has been a lot of venture capital money that has been invested into the daily deal industry and in 2011 alone, there has been over $1.6 Billion invested.

Developer.  As a developer, you are in great demand in the daily deal industry.  Whether or not you want to work for a daily deal site already running, or help a client develop a daily deal site from scratch…  There is a lot of room for developers and designers in the daily deal industry.

The above are a few of the major ways that you can get involved in the daily deal industry and make money.  By no means is this an end-all-be-all list, and the potential is just about endless.

Make moves today,
Marc Horne
HC Consulting Group

PS – If you are interested in setting up and launching your own Daily Deal website, we invite you to check us out at http://www.dailydealbuilder.com.

PPS – If you are interested in setting up and launching your own Daily Deal Aggregator website, we encourage you to view our presentation at http://www.dodaggregator.com.