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Getting your business onto a coupon website
If you're thinking about running a coupon offer, visit some of the coupon websites and look at how they're structured. Then check out the offers being promoted for other businesses, especially any in the same industry as you.
Next you should read the information for businesses provided by the various coupon companies. Often this is held separately from the main customer site. The best way to find it is to type the coupon company name and then 'information for business' into a search engine (e.g. 'Groupon information for business').
The information provided varies, but often contains a useful overview, step-by-step advice for putting together an offer, and testimonials and case studies from other businesses. Some sites also have advice on how to manage and track redemptions. It's worth looking at a few sites to see whether you find some approaches more appealing than others.
Sites generally don't publish detailed financial breakdowns of how offers work. To get this, you'll probably need to speak to a local advertising representative by contacting them through the relevant website. When you speak to them, make sure to confirm:
- how much freedom you have to tailor your coupon offer (e.g. whether they require you to discount by a certain amount, how many customers they will require for the deal to go 'live')
- whether you're allowed to cap the total number of redeemed coupons (i.e. at a maximum amount)
- what share of each coupon's value the coupon site will keep
- whether they will pay you for all coupons purchased from them, or only for coupons redeemed
- how quickly they will forward your share of the coupons' value.
Once you have this information, you should do some careful analysis to decide if a coupon offer is the right thing for your business. If you do decide to go ahead, an advertising representative should be able to guide you through the process of developing, distributing and honouring a coupon offer.
- Find out how to create a digital strategy for your business.