Vowcher and Groupon for Small Firms – Podcast has been updated and is below.
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Vouchers for small and medium sized firms are a great way to get new business – but there is a catch. Most business owners don’t go about it the right way.
If you would like to set up a ‘Discount Coupon Scheme’ for your business – I can have them up and running within hours for you.
During 2017/18/19 and 21 I have done quite a bit of work and research into the use of voucher sites for small business marketing, and it’s clear there are some issues.
I have outlined below some of these in no particular order and these are based on our own finding and experiences of our customers.
I have updated my advice and guidance in a short MP3 Wowcher_and_Groupon_For_Small_Firms
Please contact me to discuss.
All of the voucher sites tend to operate on fairly fixed and similar model but there are some minor differences. In general terms….
Nearly all of these won’t work for you, really. You can’t make money selling products and services valued at x for y less and hope you can upsell.
That is called hope marketing. Sure it pays to have a positive attitude but you can’t grow a business by selling a discount. That said, if you get the systems and processes right, along with the follow up. You may have a chance.
How do they work?
Small and medium-sized firms will come up with an offer or a daily deal which will then be marketed through the voucher website, using the voucher resellers own email list and also on their websites .
These deals can run from anything from a few days to a period of months, or as is common until a set amount have been sold.
The business owner decides on the offer it wants to promote and the voucher reseller creates the copy and the graphics to form an advertisement on their site.
What Do They Charge?
Sometimes there will be a setup fee or some other form of arrangement fee and the voucher provider normally takes around 45%-65% of the sale price as a commission. Most of these tend to be around 50%
Why Use A Voucher Site To Promote Your Business?
There is no straightforward answer to this, many voucher reseller sites are pretty aggressive with their own marketing, and are often selling into a market that is needy for leads.
That said provided you structure your offer correctly, and put in place the proper systems to maintain your marketing to clients were you have provided a discounted product or service it could be an ideal way to grow your business.
If you are a product retailer rather than a service provider you can use the voucher sites to clear stock at a substantial discount in order to get rid of it quickly or to make room for new stock. If you are rolling out a new service or product and want to test this could be and ideal method. New branches and shops spring to mind immediately...