By now, you’ve probably heard of the recent success of group coupon websites like Groupon and Living Social. The average Groupon has earned $8750 in revenue from roughly 350 sales. The average Groupon discount is roughly 56%, providing businesses with a convenient way to market and attract local customers by reaching out to them online.
Perhaps the greatest contributor to the smash success of a website like Groupon is its mass support in social media. Today, customers are looking for daily deals from businesses to save money. And it’s easier for customers to stay connected than ever before since most businesses have a presence in social media. When you put the pieces together, it’s clear that customers are on the lookout for daily deals, and the best way to connect with interested customers is online through social networks.
Group buying websites like Groupon, Living Social, and many other similar communities encourage each and every customer to tweet and post their purchase on Twitter and Facebook. In fact, they strongly encourage each customer to do this because if other customers buy based on their link, that first customer will get something for free.
So the key to group buying via social media is to not only introduce daily deals to keep customers interested but to reward customers for participating by spreading the daily deal to their own friends online.
Of course, you don’t necessarily have to sign up to a group buying website in order to benefit from daily deals. You can take the lead from a large retailer like Verizon who made use of the hashtag feature on Twitter by creating #CyberMonday to promote daily deals for 24 days. 3dcart has also recently launched their own daily deal and group buying features with 3dcart 4.0, making it easy for e-commerce businesses using this shopping cart to create regular specials to market to interested customers.
So what is the key to your success when promoting daily deals in social media? The answer is that one size doesn’t fit all. While your business may benefit from a group buying website like Groupon that links to social media, another business may see great success by creating their own daily deals and starting a following on Twitter.
Whatever method you use, make it a priority to reward customers for spreading the word for you. If you give customers a reason to get involved, they’ll be more than happy to tell their friends about your deal to do most of the marketing work for you!
If you haven't taken the time yet to review all the marketing features at your disposal in your online store, you should definitely begin now. For starters, take a good look at the daily deals feature that can surely boost your business.
Isn't it a given that online shoppers tend to flock to stores offering special deals that make them feel as if they've landed a great bargain?
Indeed having wonderful, tempting offers on a daily basis will surely drive better traffic to your store. You can use this feature in your ads and thus encourage more people to visit. And those who have been to your store will likely tell others too or post about this deal on social media, thus adding traffic again. Get ready to enjoy the snowball effect!
Daily deals are a fantastic way to keep your customers engaged. There's something to look forward to every single day, which is bound to make them come back over and over again.
If you offer different deals on various products, such as 50% off and buy one take one promos, all the more that visitors can get excited at the prospect of checking out your store each day. You can even ask them for ideas on deals they would like to see in the future.
When running your own online business, you should not just focus on driving traffic to your store and getting more visitors to sign up for your email list. It's just as important to be able to build loyalty among your existing customers and those who have already dropped by or signed up.
There are many ways to develop and maintain loyalty. One is to build a good relationship with these people. Another is to keep them happy and eager. Daily deals are able to fulfill the latter while also contributing to the first. After all, in order for a relationship to be sustained, those involved need to be happy and satisfied.
When you have a daily deal that has a very limited timeframe, people are more likely to feel the urgency to purchase. You're able to psychologize them into thinking they shouldn't let this incredible opportunity pass. The outcome--- more sales! What's even better is that they're likely to come back and purchase again.
Five Reasons Why Online Stores Should Run Daily Deals
For brick-and-mortar outlet stores, running a sale is a huge way to draw in more customers. That same concept can be applied to online stores—but what’s even better than putting half of your stock on sale for a short period of time? Running a daily deal on a single item, of course!
When 3dcart, online stores will have the ability to feature a daily deal as part of their promotion efforts. As a store owner, you have the ability to slash the price as much or as little as you like.
So how can daily deals help your store gain more quality exposure? Below are five reasons why you should take advantage of the new “Daily Deals” feature.
1. Drive more conversions by adding urgency.
With a daily deal feature, you can set parameters based on time limits and stock that add a greater sense of urgency to the deal. Perhaps a customer considered buying the featured product in the past but set it aside for one reason or another. That customer now has more incentive to buy immediately, closing the sale for your store.
The same rule applies to customers surfing your site; the deal might sweeten the purchase for the customer, causing them to make an immediate purchase rather than dragging their feet and in some cases forgetting about the purchase altogether.
2. Pique customer interest with exclusivity.
Shopping online can be overwhelming, even when you’re only browsing one store. Singling out a specific product and featuring it on your homepage is a great way to pique customer interest in the item. You won’t be able to target everyone, but you’ll be able to single out the customers that are most interested in purchasing that specific product and dangle a carrot in front of their noses.
3. Let partner sites promote your deals for you.
Everyone loves a good deal—especially shopping sites and blogs that love to spread the word on sales and other deals. When you launch a deal with a lower price than shoppers can find anywhere on the web, shopping sites are apt to pick up the news and give your store some extra exposure. Of course, it doesn’t hurt to send out a few emails to sites you’d most like to be featured on; they may be grateful for the tip.
4. Generate more content for social media channels.
You need information to share on social media channels, and unique content is the best kind of content to share with your followers. Using social media to share daily deals makes it simple for your customers to take the deal viral and drive more traffic to your site. Effective use of social media is exactly how Groupon exploded into one of the fastest growing startups of all time.
5. Clear stock of outdated products.
The new model is in and you haven’t sold out of the old one? No problem! Feature the old stock as a daily deal, slash the price and drive more sales as a result.
What are you waiting for? 3dcart's daily deals feature is completely free for all 3dcart retailers! Enable it today and bask in the splendor of a flourishing e-business.