get the real deal on daily deals lunch & learn
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This is the exact same presentation from the Lunch & Learn on April 25, 2013. Please enjoy.TRANSCRIPT
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Get the Real Deal on Daily
Deals
Arkansas Small Business and Technology Development
Center
© ASBTDC 2012 All Rights Reserved
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The Good
Daily deals are still purchased
Groupon: + 70 M subscribers
No difference in DDVs
20% repurchase rate
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The Good
Success!
Special Events
Restaurants
Adventures
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The Bad
DDVs keep 50%
20% redeem beyond value*
40% business dissatisfaction*
Cash flow problems
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* What Makes Groupon Promotions Profitable for
Businesses? Uptal Dholakia, Rice University
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What’s wrong with daily deals?
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What’s wrong with daily deals?
Saturated
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What’s wrong with daily deals?
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What’s wrong with daily deals?
“[All] The deals are for the same types
of products with hardly any variation.”
–Tom Adams, Chesapeake, VA
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What’s wrong with daily deals?
“When the deals were more experiential
they kind of piqued interest a little more.
My favorite deals from the past have been
ones that really enabled me to try new
things.”
– Kait Smith
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Right for My Business?
Unprepared for large influxes
Never have repeat sales
Lacking customer service
Don’t have a goal
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New Target Market
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When to use a daily deal
• Introduce new product
• Excess inventory
• Gain repeat sales
• Price conscious
• Instead of advertising
• Excess capacity
• Attract a new
demographic
• Generate buzz
• Additional sales
© ASBTDC 2012 All Rights Reserved
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Can I handle the traffic?
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Best Practices
1. Limit the deal
2. Get an add-on
purchase
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Best Practices
3. Have great customer
service
4. Make them come
back!
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http://mobmanager.com/daily_deal_calculator
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Arkansas Small Business and Technology
Development Center
www.asbtdc.org
www.facebook.com/atbtdc
@ASBTDC
@JennyRockus
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