5 Hidden Things with Using Groupon for a Business!

Click on the link below for more.. Hey wutz going on. Everyone wants a deal so a coupon site such as Groupon could be the best thing ever. There are some hidden things that you may not know, that I wanted to share. Reason 1 - The service is VERY expensive. When you look at the website it seems there is NO upfront cost and its pay-as-you-go, it seems great right? The truth is they take 50% of your revenue as fees, to begin with, and that doesn't even include the discount you are giving to the consumer. Some more bad news is Groupon requires that a business discount its services by at least 50% and sometimes more. With a $100 product, you would get "at most" $25 and at worst $5. Reason 2 -There is a risk that new users would get a discount and the loyal customers that have been supporting you pay a higher price. It just seems wrong, and maybe a small discount wouldn't be bad, but a large one is almost like a slap in the face for repeat customers. It would be nice if you could customize the discounts such as everyone getting the same discount, but the longer someone has been a customer the bigger discount they would get. This way it would encourage someone to keep doing business with you. This just seems better to me! Reason 3 There is a risk that Groupon customers are "first" and possibly ONLY interested in the discount. It makes sense since they first wen't to a website to look for bargains, and they choose your business ONLY due to the bargain. The reality is different than what the customer is getting and this can be a problem. You can't continue doing those prices. Reason 4 there are concerns with returning visitors. The argument for using this coupon website is that by offering a one-time discount you have a chance to pick up a loyal customer that will pay you into the future (at full price). Imagine you get a killer deal on gas, but a week later the price increases by 75% are you going to be super excited to go back there? No, you probably will be pissed off right? Instead, you probably will continue to look for another deal that is close to the same price you already paid possibly on Groupon. Reason 5 – Is if Google the topic "should my small business use Groupon." You will probably see many examples of "approach with caution" or even "horror stories" except for when the website Groupon shows up. You might be wondering if there is a better option or if offering coupons are worth it. The answer is yes, I go over this in more detail as well as some cool stuff you can do with coupons, and some more of the Groupon story, which is fascinating. Click on the link below or go to trustthelink.com for more. Oh, and what do you think? Am I wrong? Have you used Groupon, what has your experience been like? Bye for now.

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5 Hidden Things with Using Groupon for a Business! is an episode from Kevin Whitsitt by Kevin Whitsitt.

This episode is 00:04:58 long.

This episode was published on Mar 23, 2023.

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