Are you considering getting into local deals (also known as daily deals), or just want to brush up on the basics before you set up your next offer? Here are three things you need to make sure you have from a vendor before running a deal that will help put your business on the path to success:
– Control over the details of the deal
– An easy way to measure the deal’s success
– Ability to engage with customers AFTER they’ve taken the deal
Let’s take a closer look at why these three things are so important.
1. Establishing control
Traditionally, many deal providers dictate the terms of your deal. Good for them, but not always good for you. When you have full control over your deal, you get to decide what works for your business. This means you can:
– Cap the total amount of offers available so you have a manageable number of deal buyers, not a flood
– Run effective deals without having to offer a 50% discount, which allows you to make more money while the customer still gets a great deal
– Determine how long to run your deal to best meet your needs
2. Measuring success
Sure, making money on a deal is great, but it’s not the only way to determine if it was successful. Did people share your deal? How many people redeemed the deal? What was the breakdown of new and existing customers who redeemed the deal?
3. Engaging customers AFTER the deal is over
The biggest challenge with deals today is that they’re blasted to thousands of unknown consumers and you don’t have access to their contact information so you can connect with them in the future. This type of deal—is less than ideal. Having their contact information allows you to:
– Follow-up after the deal to thank them and include another offer
– Encourage them to share your deals with friends
– Send a short survey to get feedback and ideas for future offers
– Send targeted offers based on what they’ve redeemed in the past
Why are these three things so essential?
The bottom line is that deals – when done right – can help grow your business. However, more often than not, deals are not set up for merchant success and attract lots of deal-hunters, not long-term loyal customers. By making sure you have control over the details of the deal, an easy way to measure the deal’s success and the ability to engage with customers after they’ve purchased, you will go a long way to ensure that your deal is successful and helps drive repeat business.
Unsure if running a daily deal is right for your business? Download a free copy of “5 Reasons Why a Daily Deal Can Help Your Business.”
Gina Watkins is a leading expert on e-marketing for small business – and has a real passion for helping businesses to succeed. Her ongoing series of dynamic lectures are filled with real-world examples, humor and results-driven wisdom garnered from more than two decades of sales, business development and marketing experience. In addition to owning her own business, she is an award-winning direct marketer, has been featured on WUSA Channel 9’s Mind Over Money show, Dr. Gayle Carson’s Women In Business radio show, Morgan State’s Briefcase Radio program, and in numerous other media. In her role as Constant Contact Regional Development Director, she’s presented to more than ten thousand seminar attendees about the keys to success with easy, affordable, highly effective technology tools that grow trusted business relationships.