We want to thank Entrepreneur Magazine for listing Deal Current in the Top 100 Brilliant Companies of 2011.
As a media group evaluating if you should integrate a daily deal program it’s important to know the TRUE value and benefits of having a local offer program. Media organizations such as print publication groups, online communities and television and radio stations are a natural fit to implement a local offer program to co-exist with their existing advertising solutions.
As part of your evaluation you should avoid making your decision off how other local deal sites are performing. Like any business, several things need to be taken into account to understand the performance and financials of other programs. The success of a daily deal program relies on many moving pieces, but mainly depends on deal quality matched with deal distribution. A purchase rate off a daily deal email list is on average roughly 1-2%, which means that an email opt-in list of 20,000 should yield about 1-200 sales a day. Another consideration is deal quality. Great offers from incredible businesses will see much higher conversion ratios vs. unattractive deals from less than appealing merchants. Some of Deal Current’s clients that are developing niche programs are experiencing as high as 4% purchase rate.
Here’s a list of some of the most important points to consider when determining if your media organization will implement a local offer program:
Overall it’s important to note that a media group fully integrating a daily deal program into their existing mix of products, services, and solutions can attract new viewers, listeners, paying advertisers, consumers, fans, and so much more. Partnering up with a company that assists with the strategy to successfully integrate this into your existing company is critical for success. Deal Current does just that and more with every media group we work with. Many other vendors in the market provide the technology and leave the rest up to you. So choose wisely.
Here are details about the event and how to purchase tickets. This is a great event for networking and exposure if you are in the San Diego tech scene.
San Diego Magazine’s Top Tech Exec Awards recognizes the most outstanding Information Technology executives who work in San Diego, as nominated by their peers and clients. Nominees who meet the criteria, as decided by an independent panel of judges, will be recognized at the 2011 San Diego Magazine Top Tech Exec Awards on May 11 at The Paddock at the Del Mar Fairgrounds. Ticket prices will include awards reception, food, beverages, tech-fun, parking and live entertainment. http://www.sandiegomagazine.com/toptech/
As a leading daily deal software vendor we get asked all the time on advice in the market. We always have an opinion but we also know that referencing outside sources is key to our credibility.
The biggest question we have gotten recently is “How will Facebook Deals affect my chance of success?”
We recommend you read this article from 4/26/11 on Business Insider which was an original post on Yipit.
Here are the key points from the article, but click on the link above for the full content. We feel the same points apply to deal programs of all size.
The article does state that Facebook deals will cause inbox crowding, news feed crowding, and will drive up the cost of Facebook user acquisition and will drive the need for further innovation.