For small or medium businesses wanting to get exposure and attract new clients, signing up with a daily deal site may seem like a no-brainer way to go. However, daily deals and group buying sites have been in the wrong side of the spotlight over the last few years, no thanks to win-lose partnerships.
According to partnership marketing expert Simone Novello of PartnerUp, “The secret to forming successful partnerships is having a genuine win-win intent. If you can’t see how you can win and how your partner can win you should walk away.”
Are daily deals sites right for your business?
Deal campaigns have the potential to be highly effective and a great strategy for launching and growing a business. They are best suited when launching a new product or service, trying to combat a seasonal downturn, if you have a unique product or service offering, or if you have excess capacity.
But due diligence is required, as with all matters in business partnerships. In order to avoid a negative experience it is essential that you understand what questions to ask before signing onto a campaign. Katrina McCarter of Bubbler Deals shares her Top 3 tips on running a successful deal campaign.
1.Choose your partner wisely
Sounds simple, but this is a really essential step. Critical to your success is selecting a deal site that has similar beliefs and business practices to yours. Do they have a good reputation? How do they handle complaints? Do your research. Google their reviews and check online forums to see what people are saying about their site.
In addition, have a thought about whether the potential partner is a mainstream site or if they have a niche market that fits your target market. Many sites will WOW you with their large database stats and reach but if they are not in your target market, or if they have poor customer engagement, they can deliver a very disappointing result.
“At Bubbler Deals, we know that if a customer has a bad experience redeeming their voucher, they are unlikely to purchase another voucher from our site, so be selective about which businesses you work with, “ advises McCarter.
2. Get the offer right
The primary purpose of any deal campaign should be to acquire new customers. Hence, ensure that you give a good first impression of your company. Lead with your core business or one of your best selling products.
An important success factor is getting your offer right. Give people a taste of what you do, but don’t offer them a feast! I recommend to clients to offer a small part of their core service or something from their best selling product range or category, and that they provide a significant discount rather than offering their entire program. This creates a win-win for the customer and the business.
The customer is happy as they have secured a discounted activity for their child for the school holidays, or they can see what the quality of tuition is like without the commitment of spending a full term’s fees. The business is happy as they have secured a new client whom they can impress with their product or service, and they have the opportunity to convert them into a long term, full fee paying customer.
3. Expose Yourself… and Be Extraordinary
Your deal campaign is about your business, and not the deal site. You should consider the level of exposure the campaign is offering. Your deal site acts as an online advertising service for your business so you need to understand what exposure you are investing in.
“The best way to maximise your exposure is to be proactive. Be innovative and enthusiastic about suggesting ways you can wow your partner’s audience,” advises Novello.
Consider doing something unexpected. Go the extra mile every time and it will pay you back in droves. It could be as simple as sending off the order with a handwritten Thank You note, or popping in a 10% discount voucher for the next purchase.
If you provide extraordinary service, people will come back to you. They will hear about you from your loyal fans and you will enjoy the flow on effects of your campaign long after it has run.
Katrina McCarter is the Founder and Managing Director of Bubbler Deals . In the past 2 ½ years, she has helped over 300 businesses gain new customers, increase their cash flow and create awareness of their brand in that time. Katrina is passionate about helping small businesses achieve their growth and sales goals.For further information, contact her at [email protected]
Simone Novello is Australia’s leading strategic alliance and partnership marketing expert with nearly two decades of experience.She is an ex-corporate entrepreneur who has created hundreds of millions of dollars in increased revenue for a myriad of companies from airlines and banks through to start ups through strategic alliances and marketing partnerships. She now runs a partnership brokering and coaching business at www.partnerup.com.au.