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Marketing Insights

To Groupon OR Not to Groupon?

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Caution: Is Groupon Right For Your Business?

Along with Groupon, the hugely successful social coupon buying site, many similar companies are sprouting up and offering the same concept with local offices in your marketplace, such as Living Social and Social Buy. Even Google introduced its own program called Google Offers.

While the program is immensely popular with customers embracing an opportunity to save 50 percent or more on your product, you should be aware that the Groupon concept is not for every business.

If contacted by a local Groupon representative, understand the pros and cons of the program. You will be mesmerized by the success stories and immediately see visions of thousands of new customers entering your door. But are they your customers or just one-time coupon clippers?

We urge you to do your own objective research before entering into an agreement with these companies. While you've probably heard about all of the success stories, such as programs with The Gap and other mega brands, little is being said about the costly failures ... the ones that can create unrecoverable losses to your bottom line.

Why Word Of Mouth Is More Important Than Buzz

People often use "buzz" and "word of mouth" interchangeably. Buzz typically centers around a one-time event and has a short life span. The buzz surrounding last month's Super Bowl ads, for example, created excitement for about a week and then suddenly disappeared.

Word of mouth - the most successful and efficient way to increase sales - is a long-term process based on the interesting, unique and common-sense way your company does business each day, interacting with your customers.

Word of mouth marketing should be an integral part of your company's sales-building plan. Every customer touch point should create an interesting experience that encourages your customers and clients to share those experiences with others. The more your customers talk about you, the more your reputation spreads and sales increase.

The 60 Second Close: Staying A Few Steps Ahead

With the Internet and social media making our world much smaller, word of mouth still plays a huge part in your company's success. Positive and negative comments can circulate among millions of people within seconds.

Groupon, Angies List and numerous online opportunities are available. They are only effective if your customer uses them. Choose wisely.

We stay one step ahead, so you can stay ahead of your competition. To find out more on how to stay ahead, just contact us. We can get you there... faster than ever.

Topics: Social Media, Advertising, Branding, Marketing, Business Management

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