Increase Visibility and Drive ROI with the Right Daily Deal Sites

Some small to medium-size businesses accredit daily deals for exponential growth, and other businesses blame daily deal sites for lost profits.  It is important to recognize that daily deal sites, like other local internet marketing tools, need to be used wisely.  Before investing in a daily deal, you should think about the following:

• Know your margins.  Do not guess how much you can invest in a daily deal marketing strategy.  Also, driving immediate ROI is meant to be part of daily deal promotions per se.
• Conceptualize daily deals as promotional events.  The real profit that can be gained by this marketing strategy often lies in attracting new, repeat customers that later pay full price. It is important to anticipate an immediate fiscal loss and later returns.
• Make daily deal promotional events count.  Like in almost any other SMB promotional event scenario, do everything you can to attract new, repeat customers.  Have all training and staffing next to perfect.  Give customers a reason to return.

How to Find the Right Daily Deal

It is important to research the right daily deal site for your business and be familiar with all of the rules and regulations for that site.  SMBs often have to stick to tight budgets.  A few things to look for include stipulations on the number of deals that can be sold, pricing, extra incentives for businesses or customers, etc.  The perfect site probably will not work if the immediate profit margins are not viable for your business, even if the future projected profit margins are phenomenal.  It is important for any business to not run out of cash.  Outstanding projected return after a few weeks, a few months, or a few years down the road is great.  However, a business cannot run without resources.  Employees generally quit pretty quickly when paid in IOUs, and it is important to sometimes grow at a slower rate to ensure that your business remains financially stable.

Incorporating Daily Deals into a Comprehensive Online Marketing Campaign

Effective local internet marketing is a conglomerate of strategies that all complement each other.  Social media marketing campaigns can easily complement local SEO strategies and so on.  It is almost ideal to incorporate daily deals into existing marketing strategies such as social media marketing campaigns and email marketing lists.  Often, the best content-based marketing strategies provide a variety of content.   Rather than only sending emails with “Tips for Date Night” or posting industry news on Twitter, it is best to add something different.  Daily deals can be another way to engage your target audience online, and provide an incentive for a local audience to patronize your business in real life.  The same social media and email marketing platforms can later be used to keep a local audience engaged.

Takeaway Points for Daily Deals

Below are a few takeaway points when investing in daily deal promotions:

• Do NOT run out of cash.
• Take the time to find the best daily deal site for your business and your target audience.
• View daily deals as promotional events rather than a way to make quick cash.
• Incorporate daily deals into part of an existing comprehensive online marketing campaign.