What's the Deal with Daily Deals? 

Monday, December 19, 2011 11:00:00 AM

At our bike shop meeting last month, a shop owner mentioned that he used Groupon, a major daily deal website, this past season. He said he noticed increased revenue, and overall, recommended the site. However, other small businesses have shared their Groupon/daily deal horror stories, noting that there are many things to beware of when using such sites. So, today we ask, what's good, what's bad, and what's the deal with daily deal websites?

Read on to learn more.

Find the best daily deal site for your business.

Groupon isn't the only daily deal website. It may very well not be the best daily deal site for your business either.

If you're interested in creating a daily deal, shop around, and find a site that works best for you. These days, daily deal sites come in all forms. Search for daily deal sites located in your town or region, including local newspapers and/or blogs. You may also want to search for sites that pertain to your type of business.

By narrowing down the daily deal site that you publish your deal(s) on, you have a greater chance of reaching customers who are actually interested in your business, and may be more likely to stick with your business even after the deal is over. (Afterall, that's what daily deals are all about- finding and keeping customers!)

Be prepared.

Creating a deep discount for your products or services will most likely attract a lot of people, perhaps more than expected, but hopefully not more than your business will be able to handle. Be prepared for an influx of customers, particularly during the first and last months of your deal.

Just as you may overstock during the busy season on the trail, or when you expect a large group ride, you will want to consider overstocking and/or having more staff on hand if you plan on participating in a daily deal offer.

If you own a small business, it may be best to consider capping your daily deal offer, so that only a set amount of people may purchase the deal. This way, you can ensure you will be able to handle the potentially large number of customers you recieve as a result of your daily deal.

Understand that daily deal customers may not be there to stay.

True, daily deal customers may not be there to stay. But think about ways you could make them consistent, paying customers. One good way to do that is to give them the best possible experience when they arrive at your business to redeem their deal, always treating them as you would treat full-paying customers.  

How else can you keep your daily deal customers? For starters, invite them to follow your business on social networks, ask them to sign up for your newsletter or other publication, and/or offer them future discounts/coupons. In addition, here are 7 steps to get repeat customers.

For more reading about Groupon and other daily deal sites, check out:

Have you used a daily deal website for your small business? Good or bad, share your experience below!

Copyright © The Trail Town Program® All rights reserved.

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