Daily deal offers and group buying can be used successfully to promote the products and services of a business. Over the last year, many Australian businesses have started using these offers as a modern approach to advertising.
Zhen Lim, director of daily deal aggregate site Buyii, said there are many things business owners should consider when putting together a successful daily deals promotion. “Daily deal offers can bring business success if they are carefully thought through and planned properly.”
Lim released a list of handy hints for business owners on how to get the most out of daily deal and group buying offers.
- Treat your customers equally: The customers who use a promotion should receive the same treatment as those who don’t.
- Try out a competitor’s offer: Try a daily deal from another business in your industry and learn from the experience as a customer.
- Ensure you can deliver: Don’t sell or oversell what you can’t realistically deliver.
- Do your sums carefully: Consider your profit margin and the likely return; is it worth the investment?
- Terms and conditions should be fair and reasonable: Don’t make a promotion so difficult to redeem that it can’t be used.
- Shop around: There are many group buying and daily deal sites, find the best one for your business by researching.
- Offer vouchers to spend on their next visit: If a customer is satisfied with their experience a voucher will encourage repeat business.
- Encourage customers to spend more: Find ways to encourage your customers to spend more than the value of the voucher purchased.