I’ve talked before about how important providing promotions for blog readers is, and it is very true that people are interested in getting free stuff. While you are ultimately looking to make sales, giving potential customers the chance to try out your products at a discounted rate before they commit to buying can have big payoffs in the end. In fact, online deal promoter LivingSocial found that 91% of their deal redeemers were either current merchant customers or planned on returning after they had used their deal. That’s pretty compelling evidence that people are on the Internet looking for deals, and that trying something for a reduced price can lead to future full-priced patronage.
How Does LivingSocial Work?
A merchant approaches LivingSocial about a deal they want to offer, and if LivingSocial accepts the offer, it is run through the website. Customers purchase the deal through LivingSocial and a fraction of that upfront cost goes to LivingSocial and the rest to you as the merchant. While running a deal on your website or Facebook page is a great way to engage current customers, if you’re looking to capture a wider client base, using an online deal provider like LivingSocial increases your reach. Because LivingSocial organizes the deals by geographic location, and the deals change frequently, deals are a lot easier to find than if they were hidden on your Facebook page. For ideas about the kinds of promotions you could do for your business, go onto the site and take a look at how their deals work, and read up on the terms and conditions for merchants.
Promotions Bring Business to You
The biggest incentive for you to run a promotion is to invest in future business, and you definitely have to see it as that because you may lose money if you are discounting products and services. However, simply having more people come through your doors or onto your site isn’t going to guarantee that they will come back; in order to make them returning customers, you need to provide good service and high quality products. If you’re a new business, holding a promotion will help you get your name out there, but you want to build a good reputation, so investing the time and energy into making sure your products and services are spot-on will help you to expand in the future. While holding a promotion is a great way to increase awareness, it is important to remember that you are investing in the long term goal of more customers, so losing some profits with discounts and investing in your services is an important part of building a long term, loyal client base.
“Partner with Us.” LivingSocial. https://getfeatured.livingsocial.com/getfeatured/us. (7 June, 2013).