caryfh Posted April 21, 2011 Share Posted April 21, 2011 Has anyone on here used Groupon to promote their business? This has been a slower month for us, so I was working on some new marketing ideas and Groupon popped into my head. We don't have a brick&mortar location, but I was thinking they must have e-commerce stores that utilize their service. If anyone has looked into this I would be curious to hear your feedback. Quote Link to comment Share on other sites More sharing options...
EccoLights Posted April 21, 2011 Share Posted April 21, 2011 I have used them on the retail side but never for promoting our business....It has crossed my mind tho so I would love to hear others thoughts on this too =) Thanks for bringing this up caryfh =) Quote Link to comment Share on other sites More sharing options...
southern.scents Posted April 21, 2011 Share Posted April 21, 2011 I hate to be negative but Groupon can completely destroy your business. If I was you, I'd do some research on success and failure stories before proceeding...this is one article that points out some huge flaws.http://www.pcworld.com/businesscenter/article/212328/groupon_nightmares_and_how_to_avoid_them.htmlAlso, keep in mind that with Groupon, stock is a non-existent thing...you cannot limit the number of offers that are sold.Additionally, keep in mind that to grab the attention of Groupon you have to offer an amazing deal (so you start off by cutting your profit margins.) Then, you take out their percentage which can be in the range of 40-60%. After all of that, will you be left with enough money to even cover your costs? Many business have found out a little too late that the answer was no. I'd say that if you want to offer a "group" deal..start off on your own. That way you can limit the number of purchases and keep most, if not all, of the incoming funds. If you want to go this route, check out THIS Facebook application by North Social. I've used it several times with success.I hope that helps and, if you do go with Groupon, I'd love to hear how it turns out for you. Quote Link to comment Share on other sites More sharing options...
EccoLights Posted April 21, 2011 Share Posted April 21, 2011 Wow, southern.scents that was a great article and very informative. We also have been looking for some new ways to market our wares and did look into Living Social. From what I saw with them is you CAN limit the number of "deals" apposed to Groupon where you cannot. Either way I have to agree with the article that by using these services your best outcome will be "one time" shoppers and also could "devalue" your name.... Thanks for the info and will keep posted on this topic =) Quote Link to comment Share on other sites More sharing options...
Kitn Posted April 21, 2011 Share Posted April 21, 2011 Thank you for that information. Our newspaper is now doing something like groupon, I think I will look into that one. Quote Link to comment Share on other sites More sharing options...
fmsojka Posted April 24, 2011 Share Posted April 24, 2011 Thanks for the information about North Social. I think I might try this. Quote Link to comment Share on other sites More sharing options...
caryfh Posted April 24, 2011 Author Share Posted April 24, 2011 Thanks for the info on Groupon. I was suspicious that it might be something that would exhaust my business without bringing a lot of repeat customers, but wanted to see if anyone had used it. I definitely have found that people who only visit the site because they get something for free are the same people that never return unless you are giving away something else for free. Hard to know the best way to attract new, viable traffic. Quote Link to comment Share on other sites More sharing options...
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