Finally, pick the right deal partner. The biggest isn’t always the best, especially if you are a provider of specialty goods and services. With hundreds of vertical deal providers, from luxury goods to babies to pets to children (and everything in between), merchants can find the perfect match beyond simple location. A little homework and you will be amazed at the type of deal partner you can find!
Can I make money with this thing?
The most basic question merchants need to ask themselves on the whole deal opportunity is “can I make money withdaily deals”? And if they won’t make money, what is the acceptable amount of loss they could take to justify the marketing expense? Luckily there are a number of online resources available to help merchants understand their cost basis, against revenue and additional consideration (like overages, cannibalization, and new customer growth). Daily Deal aggregator and analytics company Yipit has created a simple spreadsheet tool that allows merchants to easily estimate the chance of profitability a particular daily deal might have on their business. An hour at a spreadsheet will give the merchant an idea what he has to look forward to after the daily deal check arrives.
Schedule that deal…
Some of the biggest pain points for service providers have been in fulfilling the spoils of a successful deal. It’s not uncommon to see an attractive offer, say $50 for $150 of spa services, to sell upwards of 300 or 400 units. Fulfilling 400 massages starts with taking 100 phone calls the first few days and trying to accommodate everyone who wants the Saturday 11AM slot. Many a merchant daily deal horror story has centered on the logistical nightmares of accommodating the front end (and back end) loaded nature of appointment based offer redemption.
Scheduling applications, like Schedulicity, provide easy and inexpensive daily deal management by allowing a service provider to meter the fulfillment of an offer over a specific set of time blocks for the entire duration of the offer. Basically the merchant could set aside 20 appointments for daily deal redemption per week, the availability of which could be easily accessed by the consumer. Once the slots were filled for the week, the consumer would be forced to move into the following weeks for availability. In addition to alleviating the onslaught of phone calls, scheduling services allow the merchant to set aside ample appointment slots for current, walk-in, and other full paying customers.Scheduling solutions can be easily integrated into most daily deal offers and allow consumers simple redemption with a “Schedule Now” click.