4. Reserve capacity-absorbing promotions for obvious deficits, such as filling rooms during the offseason. The surest way to protect your margins is to limit your deal quantity.
Even if you don’t need the short-term cash flow boost, you can use Groupon campaigns to establish a loyal customer base.
If your sales model relies mainly on one-off transactions, running an across-the-board bulk discount promotion for first-time customers doesn’t make sense. We’ve managed to market to a large audience especially West London, and we’ve been able to increase our own database here at Imagine Spa.
This is Groupon’s signature offering. Before you run your first Groupon campaign, claim your Groupon merchant page. For instance, a restaurant might run a three-tiered offer: The third deal is the biggest discount in percentage terms, but it also requires the most buy-in. LivingSocial Merchant Center has moved!
If you need to get rid of unsold inventory to make way for new stock, make up for an ordering error on your part, or zero out an SKU that you plan to discontinue, run a Goods listing or in-store Local Deal for the affected items until you’re sold out. This is the archetypal Groupon use case. In some cases, Groupon permits merchants to use the automated Groupon Deal Builder tool to create deals from ready-made templates, saving you valuable time. Groupon is great for offloading inventory, absorbing excess capacity during the offseason or downtime, or capturing new customers. googletag.defineSlot('/1035677/MoneyCrashers_', [[300, 139], [300, 360], [630, 139], [630, 475], [630, 250], [1, 1], [300, 250], [300, 475], [630, 360]], 'div-gpt-ad-1590780665633-0').addService(googletag.pubads());
You’ll need to delight each Groupon-wielding customer and make it worth their while to return (more on that below).
First, you’ll need to provide some basic information about your business: Next, you’ll build your deal.
A prospective customer not sold on a longer massage might jump at the opportunity to try something more novel. Visit the Groupon Merchant Blog for the latest tips, tricks, and research to grow your business. Should you need such advice, consult a licensed financial or tax advisor. Here’s how to create and launch a deal-based Groupon campaign or list your product in the Groupon Goods marketplace. Our profit-driven campaigns are designed to bring customers to your business, with high potential for up and cross-selling. Optimize promotions, learn about customers, and monitor feedback with intuitive campaign-management tools in your Merchant Center. For instance, your spa might offer a 60-minute massage for the price of a 30-minute massage, plus the holder’s choice of one of several treatments at 50% off.
GROUPON is a registered trademark of Groupon, Inc. We support you in designing a marketing campaign that meets your business needs.
Visit the Groupon Merchant Blog for the latest tips, tricks, and research to grow your business.
If you’re having no trouble with product turnover and your present marketing channels are attracting new customers just fine, you might still have a use for Groupon, but it won’t be on discounts to your top-selling products or services. Top-selling categories include: You can use Groupon’s in-house fulfillment system to ship orders across the United States, offer in-store pickup to local customers for up to 30 days after purchase, or both. Today, Groupon claims that 80% of campaigns are “immediately profitable,” and anecdotal evidence suggests that the average discount is lower than in the past. Get a clear view of how Groupon helps your business grow. Pay only per customer acquisition. Groupon has a sophisticated algorithm that supposedly serves your deals to the most relevant users, but nowhere is it written that you must rely on Groupon alone to promote your campaigns. Sure, careful campaign planning and thorough pre-launch preparation increase the chances that things will go right, but there’s no guarantee of success.
To build a Local Deal, you can use Groupon’s Deal Builder feature (more on that below) or work with a human Groupon representative to customize your offering.
If you run a seasonal enterprise – say, a crafts reseller that does disproportionate business around the holidays or a family resort that sees most of its traffic during the summer – then a judicious Groupon Local Deal, Getaway, or Goods listing could be just what the accountant ordered.
When should you think seriously about running a Groupon campaign? Our experience with Groupon has been a fantastic working-relationship.”, Reach diners, boost awareness, and accept delivery and takeout orders online, Bring in more clients and book appointments right on Groupon, Attract fun-loving customers for events, activities, tours, and more, Connect with local customers who need your services, Promote your property or destination to adventurous travellers, Expose your retail products to savvy Groupon shoppers. If you’ve already tried your hand at paid search ads and social media marketing with limited success, what do you have to lose by shifting gears and running a Groupon campaign?
Before your campaign’s launch, Groupon will send you a detailed guide on how to prepare for and manage your deal. Your Getaways listing is likely to reach a wide audience, including multiple proximate metropolitan markets, plus farther-flung markets that send lots of tourists your way. Now that LivingSocial and Groupon have joined forces, you'll be able to view and redeem vouchers in our new Merchant Center. The more of your search profile you’re able to control, the tighter your grip on your enterprise’s public image and reputation – an important consideration even if you decide never to run a paid Groupon campaign.
More than 1 in 10 millennials have fallen victim to ticket counterfeiting, according to a study by anti-counterfeiting outfit Aventus. Structure your Groupon deals – package or otherwise – to require multiple visits to redeem.
If you’re listing a product or products for sale in the Groupon Goods marketplace, you’ll need to provide additional information, such as how you’ll fulfill orders (shipping or in-store pickup), whether your goods are taxable (check the rules around interstate sales tax collection), and whether and when you’ll accept returns. Every Groupon redemption is an opportunity to win a customer’s trust and add that customer to your customer relationship management (CRM) process. For more details on specific steps of the process, talk to business owners who’ve run successful Groupon deals in the past and ask your Groupon representative if you’re stumped.
This has the added benefit of creating an impression of scarcit – prospective customers shut out of the first run may clamor for a repeat. Brian Martucci writes about credit cards, banking, insurance, travel, and more.
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