How to Start a Daily Deal Dusiness

HOW TO START A DAILY DEAL BUSINESS Deal of the day is a popular eCommerce concept which implies that a website offers a single product or service each day. The daily deal business model works by allowing merchants to promote discounted services or goods directly to the customers of the deal company, that gets a portion of the merchant's profit. 4 KEY COMPONENTS OF DAILY DEAL BUSINESS DEALS PARTNERS BUYERS WEBSITE Properly planned, scheduled and structured flash sale promotions. Merchants and service providers interested in running daily deal promotions. Target customers, email subscribers and website visitors to distribute deal specials. Domain name, Web hosting and the daily deal software. ARE PEOPLE STILL INTERESTED IN DAILY DEALS? A recent survey by Linkable Networks, conducted to research trends in consumer shopping behavior and purchasing decisions and reaching over 200 million US consumers revealed the following: of Americans use coupons when shopping. 95% 73% of US shoppers admit to using coupons at least a couple times a month. 61% of American consumers use online sites for coupons and promotion codes. THE MOST POPULAR AND PREVALENT DEAL CATEGORIES consider them while selecting your deal market niche 3% FOOD AND DRINK 2% PROFESSIONAL 6% SERVISES SHOPPING 39% ARTS AND 7% HEALTH ENTERTAINMENT AND FITNESS BEAUTY AND SPAS 24% RESTAURANTS 7 STEPS TO CREATE, LAUNCH AND GROW A DAILY DEÁL BUSINESS Market research. STEP The more information you have about your customers the better you can sell to them and cater to their needs. Obtaining detailed information about your target market demographics and competitors operating in your geographic location or niche market is vital for starting å business. Select a niche and plan a unique experience. STEP Is there something that differentiates your daily deal experience from other competitors? Find something new and valuable to offer your customers. Business plan. Develop a detailed plan on expanding your distribution channels, email list building, éstablishing contacts with merchants, advertising and so on. STEP 3 Build the website. You can develop your daily deal site from scratch or choose a pre built software. The website building platforms, such as Getsocio.com, provide powerful customization features and represent an affordable alternatíve to custom software solutions. Whatever you choose, your site needs to be well designed and functional. STEP 4 Testing. It is important to adjust all settings and to test if everything works well with your deal website before releasing it to the public. This will make your website look professional and work for your profit from the first day after launch. STEP Start to attract merchants and buyers. Run an email newsletter campaign; place links to your daily deal site on web directories and media resources; create Facebook, Twitter, Pinterest and YouTube accounts representing your deal business; implement SEO tactics to give your deal website a higher ranking in search results on Google, Bing and Yahoo. STEP Track the success. STEP 1.l.li Use Google Analytics or other analytics tools to track your deal website's performance over time. Monitor how many people are visiting your site and how often, where they live, which websites drive the most traffic to your website and which deals customers look at and purchase most and least often. GetSocio.com provides an online software platform for building full-blown professional highly customizable daily deals websites. SOURCES: Piktochart emarketer.com, dailydealmedia.com, savvr.com, piktochart.com make information beautiful