Groupon, the ultimate marketing gimmick, is known to attract shoppers’ attention and mask worth at the cost of both the seller and the shopper. Are you ready to change the ways in which you portray your business and attract customers?
Sure, social couponing attracts plenty of new customers to your business— but is it for the right reasons? Are these Grouponers truly the best fitting customers for your business?
We all know that Groupon users are just out for cheap deals and not to form relationships with their local businesses. For the most part, Groupon users are overcritical and less trustworthy than your already existing customer base.
In fact, a recent study by John Byers and Georgia Zervas from Boston University and Micahel Mitzenmacher from Harvard University finds that Yelp reviewers that mentioned either “Groupon” or “Coupon” rated the business with scores that were 10% lower than average. In the case where both words were used, review scores were 20% lower.
Did you get that? Groupon and coupons are NOT worth your money or time. Try building up the customer base that you already have instead!
The good news is that there are far better and more fruitful ways to increase profits and customer loyalty.
Consider the following:
· Make every customer a Brand Advocate through an enhanced Digital Presence
Make your existing customers feel appreciated; give them special discounts, exclusive giveaways, and useful information through engaging social media updates and blog posts—these will excite and delight your audience, but also their friends. Your existing customers base will more likely share this content—this means that you’ll be able to capture the attention of a whole new audience!
· Getting involved with the local community
Take advantage of your local business scene. Get involved with local markets or meet-up groups that correspond with your service or product. You’ll meet plenty of potential customers that will appreciate your efforts of wanting to become more involved in the community.
Originally written for ThinkTank Creative Agency.