Oh, the online deal market. Like print advertising has shifted to internet advertising, so has printed coupons shifted to digital coupons. The number of digital coupon redeemers continues to escalate. For 2011, eMarketer predicts that 88.2 million adults in the U.S. will redeem an online coupon or code at least once. What has caused the digital coupon frenzy? Quite a few reasons, actually:
1) The current state of the U.S. economy
2) The continuing use of the Internet to search for products/services
3) The famous daily deal sites: Groupon and LivingSocial
4) Last but not least: everyone LOVES a sale
Ever wondered if there is a certain type of person buying online coupons, like Groupon? Is it you? Well, in February 2011, Morpace, a marketing research firm headquarted in Michigan, determined the Groupon user type. Essentially, the common Groupon user was:
2) Aged 18-34
4) Made over $100K/year
If you are considering releasing a deal online, remember these key points:
1) Know your target customer and what their needs consist of so you can offer an exclusive deal that will be purchased
2) Recognize that daily deal sites are structured differently. Your profit will vary depending on the provider. Do your research and ask any necessary questions before committing to a deal.
Have you joined the digital coupon craze? If you have, was it worth it to you? Would you offer a deal online again? Share your comments below!
About Alan Moore: Alan is an Internet Marketing Consultant with ReachLocal Baltimore. His mission is to help you increase your revenues and decrease unproductive advertising expenses through proven, online marketing strategies. He manages over $1,000,000 in yearly marketing budgets and has worked with local businesses, agencies and the US government. Give him a call at (877)655-3438 to schedule a free consultation.
For the whole story, check out http://www.emarketer.com/Article.aspx?R=1008427