Blog Page 14 - GetSocio Blog

"The purpose of business is to create and keep a customer." ~Peter F. Drucker

Thursday, September 19, 2013

This saying by Peter F. Drucker, an outstanding American management expert, author and educator, is particularly topical for businesses operating in the daily deal space. One of common claims from merchants is that running deal of the day promotions does not always creates repeat customers. Daily deals are usually efficient for reaching new customers. However, keeping customers is something that requires more than just a one-time discount. Memories of saved money do not inevitably make people return to a store, restaurant or beauty salon again and again.

There is no doubt that deep discounts is a temptation that most shoppers can't resist but affordable prices is not the only value consumers are looking for. People also appreciate attention, care and respect. So, whenever a new client enters your door, with or without coupon, give him or her the best service you can, surround with sincere care and make believe that you really happy to see each client. Make your customers’ experience with you unforgettable and positive and they will definitely think of visiting you again as soon as they need a product or a service you provide.

Why Daily Deals is Still One of the Best Ecommerce Business Models

Thursday, August 29, 2013

After the skyrocket growth in 2010 and 2011, the industry of daily deals has experienced some downfalls recently. The effectiveness of Groupon business model is often questioned in mass media and many authors are focusing on the problems associated with daily deals. There can be no doubt that it is very important to be aware of all potential risks before entering deal of the day space. However, exaggerated concerns about hidden costs and dangers of deal promotions make some businesses keep away from this powerful marketing solution. That is why we would like to shed light on the beneficial sides of daily deals, which still remains an efficient e-commerce model for generating profit and driving sales.

The Dangers of The Daily Deal Business

Friday, August 23, 2013

The daily deal business model provides lots of benefits for business startups. Entering coupon industry is relatively easy and inexpensive. However, there are many dangers and risks awaiting entrepreneurs on their way to building successful and profitable group buying or deal of the day business. Being aware of a problem is the first step in preventing it from occurring. So, let’s explore the key pitfalls to avoid when running a daily deal website.

1. Small business instability.

Daily deal promotions is a beneficial advertising option for merchants because it does not require an upfront payment from them. This also makes deal promotions available to startups and companies with a limited budget. Unfortunately, this category of businesses have a high failure rate. Besides, new companies can have some stock shortages or other issues caused by the lack of resources and experience. Daily deal companies should be careful when choosing merchants to partner with and should make at least brief analysis of their financial stability and ability to provide quality service to clients.

7 Emerging Ecommerce Markets [Infographic]

Friday, August 16, 2013

The eCommerce world is developing rapidly and ebusinesses are faced with the challenge to keep up with the quickening pace of the global economy. The world’s eCommerce sales are getting near $1.3 trillion in 2013, with the strong growth in the Asia-Pacific, European and Latin America regions. The U.S. is steadily losing its position of leadership in the eCommerce industry. Companies, seeking new paths to grow, are changing their global expansion strategies according to the recent trends of worldwide electronic commerce. New developing markets, which remained out of sight of multinational eCommerce corporations during past years, are now hold the most potential for online business growth. However, international expansion can be risky. To be successful, it requires researching a country’s true eCommerce potential, along with taking into account regional business conditions and economic issues.

This inforgraphic shows the key characteristics of such emerging eCommerce markets as Russia, Brazil, China, France, Germany, Italy and Sweden.