Five Pitfalls of Daily Deal Sites for Small Businesses
Daily deal sites hold promise for smaller businesses because they help them gain access to a wider market and generate income through higher volumes at affordable prices. One in the latest website services available, daily sites like ‘Groupon’, Living Social, and local ones like ‘TryItLocal’, help small enterprises reach their target clientele that is searching on the internet for his or her specific products. These sites offer heavy discounts on selected products to lure a lot more customers. The promise of more business, getting noticed from the masses, higher profits, and wider market access pushes small businesses towards such sites. However, this approach to sales success is fraught with pitfalls, five of which are listed below:
1. A high amount of the sale price needs to be shared
Daily deal sites like ‘Groupon’ expect 50% with the final sale price as service charges. This is not a small amount and … Read More ...
