Is Marketing on Groupon Good For My Business?
“Does Groupon Work?” is a question we all ask ourselves at one point when looking through the app.
Can deals be too good to be true at 30, 40 and 50 percent off? Of course, they can, for the consumer. What about the business running the Groupon and how will this affect its marketing efforts?
The good news is that Groupon doesn’t cost anything up front and instead uses a pay-as-you-go model. This aspect of Groupon works well in favor of businesses promoting deals who rely on return customers but can just as easily thrive by word of mouth and more traditional social media advertising.
By no means is Groupon a silver bullet for service industries and other providers. Valorous Circle always suggests that one more or social media channels should help your business. Finding the right combination that includes Groupon, however, could be tricky.
Here are three ways to increase your visibility on Groupon and make it work for your business.
The Long Game
Offer new customers discounts on a series of products or sessions that encourage repeat visits. Be sure to include a few bright spots at the end of the tunnel, however, that are not included in the Groupon. Customers who now feel comfortable with your business offerings will be more likely to extend the relationship until it meets its ending.
The Smash & Grab
Offer one product or service at an extreme discount. Sets yourself apart by going above 50 percent. The idea behind such extreme actions is to move products that reduce an inventory glut. But the customers won’t know that. Groupon attracts new customers, and one of the better ways to draw new people is to ‘go big or go home.’
Groupon builds on itself and across its deals. Hotels, airplane tickets, and tourist attractions can ignite a Groupon frenzy when paired with each other. Flights and hotel chains are hard to compete against directly, but knowing when deals are going into effect can spur attractions or restaurants into action by offering deals that begin around the same future dates.