Marketing costs money – lots of money. Unless you are very well versed in marketing and have a massive social network or personal network, you are likely going to have to dish out tons of dollars to get the word out about your new product or brand. What if I told you that there was another way, a way to spread the word in a geographically targeted way? And get paid to do it…would you believe me?
Here is the secret. Sites like Groupon, Wagjag and Sweet Deals will send your product information out to a massive audience, targeted geographically and will not take a penny from you! How does that work? Well, they typically ask you to offer minimum discount on your product or service ranging up to 90% off the retail price. Then they will take up to 50% of that number as profit when it sells. For example, my books currently retail for $14.50, I would offer them for $8.50 and the deal site will take $4.25, leaving me with a ‘take home’ of $4.25. Yes, I don’t make my potential margin – but that is a sale and exposure I would not have had before right?
A reason to use a site like this is for pure strategy. You are not trying to earn large amounts of money, you are simply trying to get your name and your product out to the masses without breaking the bank. Below are some reasons why you would temp to use a deal site for your new business or product.
You are new with zero marketing dollars, this is an excellent way to be seen by an audience you wouldn’t be able to reach for free. There are no upfront costs for these deal sites. They make their money by taking a cut of your sales. If you make sales, it is a bonus over and above the awesome reach you just received.
You probably don’t have an email list as extravagant as the deal site. What a great way to leverage someone else’s hard work while generating exposure for yourself. And you just never know who is on that list; a fellow entrepreneur, a store that wants to carry your goods, a venture capitalist. This can give you exposure you have only dreamed of.
Maybe you have a product that isn’t moving, and is sitting in inventory. This is an excellent way to get rid of your inventory without accruing additional expenses.
If you offer multiple products or services, featuring one product or service on a deal site ultimately will get customers linking to your current website where they can see what else you have to offer. Again, a free way of getting customers that may have never seen or heard of you before. Some companies will spend thousands of ad dollars on pay per clicks to get customers to their site. Their return on investment (ROI) may or may not pay back – with a deal site, you take a huge profit cut, but you don’t spend any money up front, technically making your ROI 100% (depending on how you look at it of course. I am an optimist, so I try and see the good here).
Deal sites are selective, and busy. So don’t be surprised if you don’t hear back from them right away. Don’t make this the only marketing method you partake in. Make it one of the marketing efforts. And be patient, you may have to email a few times before someone emails you back. Good luck! I hope it reaps you tons of new customers!
If you are a parent of a baby or young child, you might be interested in checking out Susie the Soother Fairy, a book about helping a child give up their soother.