subject: How Group Buy Can Save Small Businesses. [print this page] Becoming increasingly popular today is the so-called group buy or local deals. For many local businesses, the effective benefit of advertising is in the strong power of word-of-mouth in social media. In this way, your small business can get all over town talking about your products or services. There are also some local deals that offer the same advantage in giving coupons for fifty to seventy five percent discounts for customers.
Group buy works in offering a business deal valid for one day, which is accompanied by details of the deal and several various reviews, including the summary of your business. This is especially effective for small businesses as they are guaranteed to lose virtually nothing but only gain advertisement. Businesses set a minimum or maximum coupon number, which can be sold. After the minimum is reached, the coupon will continue selling until the maximum is set. If the group buy does not sell the minimum, you will not be charged, as this is a no-risk promotion investment for your business.
Group buy and local deals can definitely help you make money since the deal takes get a portion of your profit in the coupons. If the coupon will not reach minimum requirement in sales, the coupon is invalid and you are not liable for anything. Group buying websites would email subscribers who choose to receive offers electronically every day. Most people are busy and would most likely opt in receiving their daily deal before they rush for the office. In this case, seeing the deal would prompt them to update their friends on social networking sites such as Facebook, Twitter, and others. This strategy offers incentives to subscribers of social networking media from the daily deals. Once the subscriber successfully refers another person to sign up with a referral code, the subscriber automatically gets cash credit on the next purchase.
Using group buy and local deals is an effective yet cheap strategy for small businesses. You can offer a coupon deal that people would find hard to decline and coordinate with your account representative that will help you find ways to maximize business exposure as well as the daily deal.
Features and benefits of group buying for media organization can include the opportunity to generate thirty to fifty percent profit from every coupon or card sold. This can also create advertising buzz and attract potential users via the social networking sites. Group buying can also help grow your email database and add its value for prospective advertisers. Group buying works such that when a gift card is available, the advertiser can emphasize on promotions.
Moreover, online store and promotions exposure can generate up to seventy percent of sale. This is also a type of pay-for-play advertising wherein you pay only if coupons sell. You can also prevent and avoid fraud since name or identification is needed for coupon or check validation. The end user can also benefit from the fifty percent or more discounts from products or services. This is also one exciting way of encouraging customers to buy.
by: A. Mavericck
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