In fact, Groupon currently has about rivals offering similar daily deal specials. The company maintains its market share with millions of motivated visitors monthly. Of course, you might do better by putting your money into carefully crafted promotions that you can control more directly. Sometimes, aggressive or small, dedicated coupon companies might have more appeal because they match your concept or customer base. For example, some might specialize in green technologies, environmentally sustainable sourcing and other themes that better engage your audience.
These options might include coupon companies like Living Social, social media promotions and niche companies that can offer combined hotel, travel, entertainment and vacation packages. Think of the advantages of using a Groupon-type company that focuses exclusively on bakeries, fast food for lunch, coffee shops or neighborhood gastropubs.
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Alternative options to Groupon include:. The company is developing a POS system with Breadcrumb that includes a credit-card swiper, cash drawer and wireless access. Other Groupon initiatives include:. Your customers might respond better to a social media promotion, value incentive or promotion where part of the purchase price goes to fund a community or charitable cause. New marketing and promotional ideas are always developing, so you never know what might be the best option for your restaurant in the future.
Groupon: Restaurant Friend or Foe? | Gourmet Marketing
Choose what works now to accomplish your business goals, and refine your strategy continuously. Groupon has such a commanding lead over its competitors that it makes sense to use the service sparingly. Doing the math, however, is essential for marketing success. You need to craft your offer, possibly restricting the coupon to the most expensive menu items or poorly selling items. Another important component might be to limit use of a Groupon coupon to one per table.
Daily deal promotions target customers who are looking for extraordinary bargains, and you must pay a high premium to offer something appealing. The incentive can cost you more than you can afford in some cases and could devalue your restaurant among existing customers and prospects. The best promotions target a specific area of the menu — perhaps combined with some sort a of package deal — and give you room to upsell, cross-sell and incentivize customers to return. This is why. And bargain-seekers, for the most part, are very careful to not spend much more than necessary.
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That said, you can also learn something from every offer or deal. The learning curve could provide enough information and feedback so that you could craft more effective deals in the future. You can determine the optimum number of vouchers to sell and put better limits in place to prevent losing money on food costs. You need to craft your offer so that you can afford to receive 23 percent on the dollar for a certain number of redemptions in any given service period. Remember that you might have other coupons coming in from various marketing promotions, so craft your offers to prevent excessive coupon redemptions.
You should plan your offer in such a way to get the best possible response from new customers. The biggest problem with Groupon is that restaurants might not be prepared for the rush or dealing with atypical customers.
The idea here is to upsell people and get them to return. Overwhelmed staff might easily treat these customers as second-class citizens, nuisances and one-off visitors.
Even if your staff performs like the champions that they usually are, an influx of customers could slow service to regular customers or create a different dining environment. After selling hundreds of deals, restaurants should prepare for an upswell in business on the same day, the next day and the first weekend after the deal by scheduling extra staff or having workers on-call to deal with the extra business.
Careful number crunching and using Groupon selectively can be quite effective, but the process takes some detailed planning. You get a guaranteed minimum number of sales, which is a great way to promote slowly moving foods or underrated menu items.
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We like the simplicity, ease of use and advanced technology for printing coupons or using smartphone technology for the coupons. People who pay one price for food one day hesitate to return a few days later and pay twice as much for the same meal. The more attractive your offer is to consumers, the more likely your regular customers will use it to cut their costs. From studies on Groupon, we used to advise restaurants to to steer clear of promotions that have one-time transactions, but Groupon has become more flexible in pricing.
Another mistake of Groupon is that instead of focusing on a specified item, the discount is given for the whole bill. Do so by clicking on the "name" button on the right hand side of the deals page, and then clicking on "My Groupons. You can print your purchased Groupon by simply clicking onto your name on the right and clicking on "My Groupons".
Note about the Daily Deal feature
After searching for the Groupon you want to be printed, click on to the "Print Gift Card or Voucher" on the right of that deal. Now you have your Groupon printed and you can avail it of the services required. The first deadline is for the deal itself, and the second deadline is for the coupon. Groupon is unique among deal sites because while the deal usually has a short deadline, say a day or two, the coupon is valid for a much longer period of time - often as long as six months.
Each deal is different and you'll want to know what your obligations are and what obligations Groupon and merchants doing business on Groupon have. Often, there are limits on Groupon deals, especially on time table usage of any deal discounts and coupons. Groupon consumers may also find that some deals are only available for new users, and won't have access to a deal.
Make sure to check the deal contract language to make sure you know what you're getting - and getting into. Some, but certainly not all, Groupon merchants aren't above raising their prices before announcing a deal on Groupon, and offering a "deal" at what normally would be their usual target price. It's a time-honored retail sales gambit, and the reason why it's still around today is because the trick works.
To ensure you're getting a good deal, do some research before buying a coupon. Check the average price for that three-day weekend in Key West or that "spa day" at a brand name hotel. If the average price is the same as the announced deal price, you're not getting a good deal. If you're looking for a new big-screen television or are planning a big trip, set up a new account on Groupon and start looking for some serious discounts.
Groupon Promo Codes, Coupons | Oct. 12222 Discount Deals
Or, if you're already a member, have your spouse, friend or family member sign-up and grab a great deal. Sign up with your debit or credit card and you'll be linked to all of the platform's participating eateries and bars. You'll get the rewards back on your Groupon account statement. The chipmaker also guided for slightly less revenue than expected, but a higher gross margin. If it's too late to sell do we build a position on any further weakness?
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