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How to make daily deals pay off for your business

If you’re interested in testing the social coupon waters, consider these four tips to help increase your likelihood of success.

Groupon went public in November, and LivingSocial and more locally based coupon sites are also flooding email inboxes with daily deals.

Online coupons can be a great way to find new customers because they cost a business owner only if someone actually uses them. Business owners, however, have to be careful with this powerful marketing tool. As a marketing consultant who frequently works with entrepreneurs, I tell them, “If you don’t structure this opportunity right, it might run you under.”

You can ruin your business as you’re flooded with sales that you’re losing money on. Business owners also fail to take advantage of the opportunity to sell other products and basically upsell off the deal.

…to read this article in full, visit leading US entrepreneurial resource, Entrepreneur.com.