Small businesses should take advantage of opportunities with daily coupon websites such as Groupon or Living Social, but not to gain revenue. Instead, entrepreneurs
should look at the business deal as a way to expose their company to new prospects and gain consumers.
Expecting to turn over a profit from a daily coupon website is not practical, because these companies typically offer deals at 50 percent off or more, Inc. magazine writes. Groupon always takes 50 percent of every coupon it sells, meaning that businesses often don't profit very much, if at all.
However, this tactic can drive consumers to a business they may not have otherwise have visited. If companies approach the deal right, they can be sure to push traffic at specific locations or toward certain products. Companies that do sign on with Groupon or similar sites should look at it as a marketing expense.
If a business does offer a daily deal, be sure to expect an influx of consumers and be appropriately staffed. Those that aren't prepared could turn potential customers away rather than draw them in, if they are not careful.
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