Published on February 22, 2014
Daily Deal Builder Training: Creating a WIN – WIN - WIN. A win-win situation does not make sense because there are only two contact points, where three are needed. The Consumer, the Merchant and your Deal Site itself all need to be considered when structuring successful deals..
Educate your merchants. Help them structure and price a profitable deal, and be sure to cut yourself in 30%-50%.
Pricing & Structuring Your Deal Certain price points and percentages can work for some businesses and not others. Realize that each business you work with is unique.
Pricing & Structuring Your Deal Help your merchants figure out a pricing and promotion plan that works for them, their customers, and also you. And be sure that they are educated on how to treat their new customers too.
Pricing & Structuring Your Deal Over-delivery is key when your merchants serve their new customers. Going above and beyond, as well as properly following up, is vital to the success of their promotion.
Pricing & Structuring Your Deal Here are a few types deal structures…
The Bundle Combing two or more of your products as a bundle and offering a discount on it. Typically, you might not offer this bundle to the general public. • Buy one ticket to Symphony Orchestra on __/__/__ and get another ticket for the __/__/__ show. • Receive free breadsticks with the purchase of a Pizza. • Buy product X at full price and receive product Y with no extra charge
The Complementary Bundle Work with two similar / complementary businesses to offer a package deal that includes services or products from two separate businesses. • Dinner and a Movie • GA. Aquarium tickets & World of Coke combo pass • iPhone and iPhone speakers • Dinner at a restaurant and ice cream at ice cream parlor across street
The Special The special is where a business makes a unique offering for their services specifically designed for your Deal Site. • 2 for 1 Valentines day pre-fixed dinner • Laser Hair removal – Large, Medium, Small… • Choice of appetizer, entrée, and desert from special menu. • Software purchase with 1 year free hosting.
The Standard This is where merchants follow the usual route of offering 50%-90% off one of their products or services. • $19 for $50 worth of Food • 50% Off Skydiving Adventure • 1 Year Membership to Gym for $99! An 85% discount!
Reverse Engineer Successful Deals A quick Groupon or Living Social search will show you businesses who regularly release deals in various categories. Breakdown all aspects of the promotion. • What were the pricing points? What were the margins? • What type of copy was used? Headline? Package options? • What were the terms and conditions? • How many sold? Revenue generated?
Maximizing Customer Loyalty Your mission is to help merchants get brand new, loyal customers. Help educate them on how to over deliver when they serve their new customers. Going above and beyond as well as properly following up and nurturing the loyalty will make their promotion a home run.
8 Easy Steps for Your Merchants to Maximize Customer Loyalty When Running a Promotion With Your Daily Deal Builder Site.
1. Thank the customer for their purchase and congratulate them. • • • • • • • • Personally thank each customer for visiting your business and congratulate them on receiving a great deal. Let them know your expectations. You want to impress them and see them again. A primary reason a customer turns into a repeat customer is if they are treated like a star. Although, these customers paid a discount, it is MORE important than ever to go above and beyond for them and verbally let them know you are thankful for their business. Gratitude and a hand shake from a manager can go a very long way. Ask to see the customer again soon. Smile more often. Ensure your employees know the importance of treating your new customers with kindness and respect.
2. Send them off with a “we want to see you again” card or pamphlet. • • • • When your clients are leaving, give them a business card or pamphlet that incentivizes them to come back and bring a friend. One option is to provide incentives directly on the customers receipt. Offer a small discount on the next time they come in. Be sure to include instructions for how to connect with you on Facebook. Include the reason why you want them to connect with you.
3. Gather feedback and testimonials as early as possible. • • • • • Ask the new customer how their experience is going. When someone verbally states they are enjoying themselves, they tend to want to stick by their decision. Let the customer know that you would very much appreciate it if they provided a Yelp review to let others know. Explain to them how this can help you out. Encourage them to tell their friends about their experience on Facebook. If a customer is unhappy, deal with it right away and make it right. We want to avoid negative social reviews at all costs. Often times, unhappy customers can actually become raving fans if they feel the business made things “right.”
4. Provide excellent products and services. • • • • • • A primary reason customers will tell their friends about your business is if they received a superior product or service from you. Provide exceptional customer service. Analyze your customer feedback and figure out your businesses weaknesses. Address and overcome these weaknesses with the customer, and then your employees. What can you do to make your customer experience more enjoyable? Put yourself in your customers shoes. Hang up notices for your employees that are visible to customers, “Remember, our customers pay our bills!”
5. Offer upsells and one-time offers to your customers that make sense. • • • A full-proof way to increase revenue is by offering additional packages or items to your new clients that make sense. Our deserts are delicious, would you like to try one? Would you like another glass of wine? What upsells can your business offer that make perfect sense?
6. Follow up with your new customer. • • • • • • Following up with your new customers at the right time is the easiest way to turn them into repeat customers. Work to get your new customer on your mailing list. Follow up with them with discounts and incentives to bring them back into your business. Paint a picture of future purchases. Connect with them on Facebook & follow them on Twitter. Ask them to bring a new friend to your business.
7. Develop a customer reward program. • • • Develop a system to reward your customers for their visits. Coupons, discounts, deals, and incentives can easily make a customer choose you over your competitor. What type of customer rewards make sense for your business and will bring your customers back in the door?
8. Stand behind your business. • • • • Be confident in your business and stand behind it. Continually work to provide the best possible service. Offer some sort of customer satisfaction guarantee. Ensure your employees are properly trained and know the importance of making your customers happy and loyal.
Dealing With Online Reviews It’s not a matter of “IF” your clients will receive negative online reviews, it’s a matter of “WHEN.”
Finding and responding to online reviews. • Treat each customer as if they are Ego, and are going to write a review of your business in a major publication.
Finding and responding to online reviews. • Every single person who walks in your client’s door has the ability to write a review of their company that could potentially get mass exposure. • Businesses must do everything in their power to make sure that each of their customers receive world class service. Running a daily deal promotion can generate a huge, positive, social media buzz; so have the attitude that each customer is a famous reviewer and strive to impress them.
Finding and Responding to Online Reviews “Respond with Timeliness” • • • • Never ignore an online review. They won’t just go away. Instead respond quickly and personably. You should have Google Alerts set up for your company so that you are notified as early as possible when someone posts a negative review. Responding in a timely manner works with positive reviews also. If someone leaves a positive review about your company, respond to them and thank them and invite them to come on back in to your business and bring friends next time. The only time you would want to completely ignore a negative review is if it is completely obvious that the person leaving a review is crazy or just an internet troll.
Finding and Responding to Online Reviews “Do Not Start a Debate.” • • • • Starting a debate on a public forum with an irritated customer will do no good. Everyone understands that the customer is not always right, but if you have to prove it publically, they are definitely not going to be a customer any more. Demonstrate strong empathy for the customer, let them know that you understand they are dissatisfied, and want to do everything in your power to make it right. If possible, bring the public discussion to a private forum via email or phone.
Finding and Responding to Online Reviews “Make it Right.” • • • • Do your best to prove to this person that you have them, the customer, in mind and it is your highest priority to gain their respect. Explain what happened. Refund the customer or give them a discount on future services. Often times, a disgruntled customer who turns into a raving fan can become your biggest promoter.
Finding and Responding to Online Reviews “Learn from the good and the bad reviews.” • • • • It is disheartening to see a negative review. However, they may happen from time to time especially with the large influx of customers that your business should receive. Don’t let the negative reviews bring you down. Learn from the negative feedback and capitalize on the positive feedback. Take notes on the feedback and add to a “testimonial” or “complaint” document.
Cutting Your Business In… Know your “Nut” expenses Know time and money it takes you to list an offer. Outline all operational costs and put a valuation on each offer that your deal site runs.
Cutting Your Business In… Promotion needs to work for your merchants, but it also must work for you. The standard rate is 50 / 50 split. You are doing all of the work in promoting the deal, setting it up, and writing the copy. Don’t undercut yourself, but don’t lose a potential merchant over a few percentage points either.
Cutting Your Business In… Offer to pay the business 50% of what is owed to them one to seven days after the promotion ends and the remaining balance owed after 30-60 days. This helps you be prepared for refunds and chargebacks while still helping the business receive a quick cash influx.
Thank you! Visit DailyDealBuilder.com to learn more about us. We look forward to building a lasting relationship with you. If you have any questions, email us at firstname.lastname@example.org.
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