Small Business | Forum « groupon or not

groupon or not (14 posts)

Topic tags: groupon

roma said
5 months, 4 weeks ago:
has any body used groupon and saw it as an effective way of getting rid of excess merchandise? i read this post online and was fascinated to read why it’s not.. how i see it:
the bottom line- what do you want to sell your item for!! that’s it.. if the cost of storing it outweighs your time and energy then sell it at any cost.. lol
here is the posthttp://socialmediatoday.com/jgibbard/337550/considering-offering-groupon-read-first
please let me know if you had a successful experience with it..thanksroma
@avatar1919 | # | Top
Rich Brooks said
5 months, 4 weeks ago:
@avatar1919
I think that Groupon and LivingSocial can be used well or poorly.
I’ve seen local shops get hammered by people only looking for a deal, never to return.
I’ve also seen restaurants use it to promote certain meals that they might not usually get a lot of traffic for. For example, a Mexican restaurant near me did a groupon for $50 of food or drink for $25.
I spent my $25 and got $50 worth of high-end tequila. Not what they had in mind.
Next groupon they did was the same discount, but for brunch…a meal they weren’t known for, but wanted to build a business for that crowd.
@rich-brooks | # | Top
Anita Cohen-Williams said
5 months, 4 weeks ago:
I would not recommend Groupon at this time. See if any local newspaper or website is doing Daily Deals in your area.
@anitacohen-williams | # | Top
Diane Bianchi said
5 months, 4 weeks ago:
I’ve never used Groupon, but I wouldn’t recommend it because of what I’ve heard of others experiencing. The cost of the Groupon would be way more than what you would get and it appears that most people who get them are just looking for the deal and don’t come back.
@dianebianchi | # | Top
Bob Green said
5 months, 3 weeks ago:
I have used Groupon as a consumer many times. The deals are always good and I have found some really good out of the way restaurants and wine bars that way.
I would not use it as a business though. Heard too many horror stories. I would put my effort into Facebook promotions…discounts for checkins from FB and any social media (Foursquare, Yelp, etc.).
If you are looking for a good value in coupon marketing, go with ValPak or similar services. And finally…Negotiate!
@bob-green | # | Top
E N Brown said
5 months, 3 weeks ago:
Hi Roma — @avatar1919
I agree completely with the article you posted as Groupon seems like a good deal for the consumer but not so much for the business owner. It’s a way to get new people in the door; a true ‘loss leader.’ Other than that, unless you have deep pockets, I’d not jump on that particular banana boat.
It is a good article and explains exactly how Groupon works though so if you needed a handle on the article itself – my recommendation is to believe it and move on. Do what he says: “focus on YOUR customers…” and offer THEM a deal that they will appreciate and if successful, THEY will pass on the word.
Eileen
@supereb | # | Top
E N Brown said
5 months, 3 weeks ago:
Side NOTE — @rich-brooks
“…I spent my $25 and got $50 worth of high-end tequila. Not what they had in mind.”
OMG – did you drink all that yourself? I’d be drunk off my uh, you know.
Eileen :O
@supereb | # | Top
Ann at greenoak said
5 months, 3 weeks ago:
ive heard both sides…. just be careful in picking your offer and that you will be happy selling lots at the a greed price…..
i think they have to approve you too, you cant just sign up.. last time i heard about it….
i would probably give it a try for our store just to see… , but its not available in my rural area …
@annfurnivall | # | Top
Preston Odenbrett said
5 months, 3 weeks ago:
We had done some extensive research when I was part of a start up a few years ago doing some consulting and we found it is a good deal for the consumer but for the business owner it was not.
First, the business has to give a deep discount on his product or service- if it is 50% off something- so there is a lost in revenue right there. They then need to pay 1/2 of what the deal creates back to Groupon or Living Social- I have seen businesses go out of business cause they accepted all these “DEALS” and would be lucky to make 25% on these sales. That means they lost 75% on each customer that came through their door.. that is just crazy.. However, the sales people are trained to tell their customers that this is the best way to get new customers and they will bring their friends, you want to get more revenue right. I would steer clear of this. We are creating something that will be good for all business owner, connect with me then I can message you more information.
@avatar1919 @anitacohen-williams @dianebianchi @bob-green @supereb @anitacohen-williams
@prestonodenbrett | # | Top
Darrell Ellens said
5 months, 3 weeks ago:
@avatar1919 There are many ways to run a daily deal. You can use Groupon or many others in your city. There are also many different technologies that allow you to run your own deal/coupon. Rice University has a very in depth study of which types of businesses do well.
What are your long term plans for your company?
Please feel free to give me a call to discuss.
I am the Linkedin group manager for “Daily Deal Industry”
@darrellellens | # | Top
roma said
5 months, 3 weeks ago:
wow- what thoughtful and resourceful people on here!.. it’s always good to have a strong networking group and love that people respond to these forums on this site.. IT IS AMAZING… IT IS AWESOME AND what great helpful people on this site with no hidden agendas… kudos to all of u!
@avatar1919 | # | Top
roma said
5 months, 3 weeks ago:
i guess i will not be participating in the groupon coupon.. i think that u really have to have deep pockets to join and i also don’t like the fact that tehy vet you and not the other way around… my humble 2 cents
@avatar1919 | # | Top
Rich Brooks said
5 months, 3 weeks ago:
@supereb
Ha! No, I split it with a friend. That’s the best way to drink tequila anyway, right?
@rich-brooks | # | Top
Milan Steskal said
5 months, 3 weeks ago:
I’d say that it’s important to determine, whether your goals are short-term or long-term. Groupon usually brings loads of bargain hunters who come to get the 50% off deal and never come back. One of the biggest Groupon type portals in my country collects some stats and only ±15% of customers, who get the deal come at least once more.
I believe, that Groupon isn’t the way for businesses, who have long-term goals and want to build a family of loyal customers. They need to get smaller discounts of special offers, but everytime when they come. That’s how you can build relationship with someone. Step by step.
@milan-steskal | # | Top