Benefits of Group Buying for Business

Benefits of Group Buying for Business

Benefits of Group Buying for Business

Group buying, or social buying, is the newest craze hitting the streets of Vancouver. For local businesses, it's affordable advertising that uses the power word-of-mouth power of social media. It's like having a bunch of sales people from all over town, talking about your business. You offer a coupon saving your customers 50-75% off your products or services and just sit back and watch the power of social media work for your business.

Each business deal is only offered for 1 day. It is accompanied by a details of the deal bio of your business, several reviews and often a summary of reviews of your business.

Small businesses have nothing to lose by advertising their latest Vancouver coupon deal on a group buying site. Your customers purchase your coupon directly from the group buying site. You set a minimum and maximum number of coupons you are willing to sell. Once the minimum is reached the coupon is activated ad will continue to sell until your set maximum. If the group buying site doesn't sell your minimum, you won't be charged. It's really a no risk advertising investment for your company.

These group buying sites only make money when you make money. They take a portion of your coupon profit. If your coupon doesn't reach your minimum sales requirement, you don't have pay anything, and the coupon is not valid.

Group buying sites have email subscribers who opt-in to receive your offer in their inboxes every morning. Many of these people look forward to receiving the daily deal in the morning and they rush to check it right when they get up. When they see a deal they like, they'll tell their friends on Facebook and twitter (and their other social media sites). Group buying sites offer incentives when their subscribers refer people to the daily deal. When a subscriber refers someone who signs up using their referral code, the referrer receives cash credit towards their next purchase.

Small businesses may benefit the most from this cheap, but extremely effective, form of social media advertising for their business. Offer a coupon deal that is hard to refuse and work with your account rep at the group buying site who can help recommend ways to get maximum exposure for your business and your daily deal.

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