This is the question so many business owners ask themselves. I have seen Groupon and LivingSocial transform over the years to what now is a risky business. There are some circumstances where it can be profitable to run a deep discount campaign but beware as there are numerous downsides as well.
Check out my short ebook on Amazon: How To Survive The Deep Discount Devils Not only is it a must read for anyone considering running a Groupon but it is a must read for anyone whose industry is affected by these campaigns. Ask yourself, is there a Groupon for anyone in my industry right now? Then check out Groupon and search. If so, you need to prepare yourself for a few things:
- Perceived client value
- Market flooding
- Overall declined value
- Possibly loosing loyal clients to deal hopping
Learn how and when it’s safe to run a deep discount deal:
- What are your profit margins?
- How much time does it take to complete a service?
- Will it take time from paid staff to complete?
- How can I get the most money in as little time as possible with a Groupon?
Learn how to turn Groupon hoppers into loyal clients!
- Do you really want a long list of cheap clients?
- Did you know Groupon clients are the most likely to write Yelp reviews?
- Did you know you can negotiate your commission?
- Every client should purchase another product or service before they leave that day!