The rapid growth of buying sites like Groupon and Cudo has created, almost overnight, a new avenue for businesses to market themselves to potential clients.
But just because these sites now exist, should you use them and will they be effective in attracting customers to your site?
The answer is use them if they have a database large enough that it will include the sort of customers who would use your business. Make sure people are actually going to the site you want to partner with since there is no point offering a deal that few people will see.
But before you align yourself with a site, make sure you have a strategy to deal with the new customers coming your way. Do you have the capacity to handle all these new people wanting to use your product or service, often in a very short period of time? And have you thought about how you can convert them from one-off users to long term valuable customers?
Used correctly, buying sites, which are likely to become more niche – making offers to people in particular areas, or from one industry only – can work for you. They can expand your customer base, and help grow your business.
But only if you’re ready with a follow through strategy that will make your investment in a short term marketing campaign a long term winner for your business.
In this discussion hosted by Suzi Dafnis (Community Director, Australian Businesswomen’s Network) with guests Valerie Khoo (Managing Director, Sydney Writers’ Centre), and Robert Gerrish (Business coach and consultant, Flying Solo), we talk about how you can make use of buying sites like Groupon and Kudos to grow your business, and the pluses and minuses of this new marketing approach.