The Value of Daily Deals

Daily DealsIf your business currently uses a daily deal program, then listen up! This popular concept may be worth more than anyone had anticipated.

Using data from a new study by Chadwick Martin Bailey and Constant Contact, Marketing Charts recently reported an astounding 54 percent of consumers that subscribe to a daily deal program will share a great deal even if they are not a customer of that business. The majority of consumers state they will share the deal because they simply know their friends will like it!

So, what does this mean for businesses? This research suggests that the daily deal concept is much more valuable than it may have originally been thought. Moving forward, daily deals may eventually become a permanent fixture for businesses to utilize online, instead of fading away like a passing trend. After all, this study states that 92 percent of people believe the daily deals are here to stay; so why fight it?

Also revealed by this study is the interesting fact that familiarity and proximity do matter to consumers. Over one-third of consumers participating in this survey said they were more likely to buy a daily deal from a local small business than any other. Consumers agreed that this type of deal was ideal for one of three reasons: local small businesses were close to where they worked or lived, they were familiar with local small business or the daily deal was something they already liked to do. Sixty percent of these consumers also believed that daily deals helped their local businesses gain new customers.

Fascinatingly, subscribers to daily deals often share deals via email platforms two times more than the amount of shares they post to social networks. This can make tracking deal shares online more difficult for businesses; however, this can be countered by tracking social media and the sells of a given daily deal.

For more information about this research study, please visit CMB here to access the PDF file.
If you’re company is looking to increase your presence when it comes to social media, deals, promotions, coupons and incentives, please contact Marketing RELEVANCE.