Let’s make a deal

Priceline’s new feature to search hotels by special offer, like an extra night stay, free breakfast or free spa credit adds the newest spin on the list of social deal sites. This one gives the individual user the power to search for specific discounts that are unique to them.

And the list grows every day. Just to name a few, we’ve got:
One-day, one-deal sites (Groupon, LivingSocial and LocalTwist)
The luxury lifestyle for a limited time site (Gilt and RueLaLa)
Bidding war sites (OffandAway)
Specifically travel (Jetsetter and SniqueAway)
Location-based fun (FourSquare)

Coupon clipping is nothing new, but the accessibility for any business to be part of the social deal trend is. And trends are always exciting until someone starts asking, “What’s the ROI?” And it seems people are starting to ask that question.

What’s your deal?
If you’re thinking of promoting a deal on one of these types of sites, it pays to be prepared. Here are a few tips to think about before you make your offer.

• Research the site that fits your brand and goals
  One-day deal sites are great to attract some new local customers, but they may not become regulars while FourSquare can be used to reward your already loyal clients to get them to bring a friend. Do you need to convert loads of new customers or nudge your current ones to visit more often?
• Watch and learn what works
  Subscribe to a few sites (if you haven’t already). Which type of deal gets the most buys? Which ones make the brand more memorable? Sometimes I will see a deal that I don’t really want, but the brand is presented so uniquely that I find myself going there anyway.
• Ask someone who’s done it
  Many of these new deal sites cater to local, small business. Reach out and ask your neighboring business who’s used a deal site about their experience.
• Ask your best clients
  Want to make a client feel really special? Ask her what she thinks would make a unique offer at your business. If you follow their advice, be sure to thank them in a special way too.
• Wrap it in a pretty package
  Sure 50% off anything you offer might seem like a good deal, but is it a good deal for you? Many spas will offer a signature treatment or a restaurant will offer a three-course meal as a discount “package” not just a discount on everything.
• Set a budget
  Many sites will let you “sell out” of your deal. Do the math and figure out how many packages you can afford.
• Have fun!
  Social deal sites can be a win-win for the client and the business. Go ahead and get creative, have fun and enjoy the ride!

Post written by Katy Garsi | Wilmerco Account Executive

Advertisement