Group Buying For Business Checklist: Key Things To Remember

Things To Ask Yourself Before Dealing With A Group Buying Site:

group buying checklist need to know groupon living social ü  What are my marketing objectives, and where does group buying come into achieving these?
 ü  Do I have the necessary budget?
 ü  Are we ready for the high increase in demand? Enough staff, equipment, space, products, etc.
 ü  Do my products and/or services fit the bill? Are they:
        -          Low cost? So a high item volume could be offered.
        -          Items with high profit margins? In order to minimise losses.
        -          Consumable? To ensure the likelihood of repeat custom sooner rather than later.
       -          Items that I can use to up-sell or cross-sell other products or services? Potential for profit to compensate losses.

Things To Ask The Group Buying Site Before Making The Deal:

 ü  What is your company’s profile and back story? Where are you based?
 ü  Are my target market a part of your company’s demographics?
 ü  What are your company’s own marketing strategies and how do they benefit the companies involved in your site?
 ü  What businesses have you worked with and in which industry sectors? Are any of them my competitors?
 ü  To the consumer, what makes you different from other group buying sites?
 ü  What are the requirements for the deal and how much of each sale do you take?
 ü  How and when is payment for sales processed?
 ü  After the deal is made, do you offer any additional post deal support?