The last 45 days have been an exciting time for the tech team at Deal Current Network with two major updates
Here is a screenshot of the homepage and please let us know what you think.
A majority of publishers are adopting coupons and seeing great results. Actions by consumers on coupons grew 42% from 2400 in December to over 3400 in January. The number of coupons grew from 417 in December to 516 in January.
If you are considering adding digital coupons to your site, but haven’t yet then you should read this article from Emarketers.
We don’t believe that coupons are replacing deals, but we 100% believe that offering deals and coupons will lead to a bigger opportunity.
As a result, we are going to be sharing a lot of market knowledge and to start here are three tips to running a successful coupon program.
1) Make Sure You Get a Great Image From an Advertiser
We see so many merchants use bad photos, out dated photos, cheap stock art in advertisements and wonder why they don’t get a response
Here is a great example of an image that is awesome from, Cafe Ventana, a St. Louis bistro. They have a great picture and their logo placement is clean and clear.
2) Use Great Tags, Not Just the Business Name
Remember consumers aren’t typically looking for a specific business, but a business type.
So use tags that help a customer find what they are looking for in a certain category or neighborhood.
We recommend at a minimum: City, Neighborhood, Zip Code, Specific Services or Food Type.
3) Create Incentives to Sign-Up & Advertising Packages
When you first launch your coupon program, give new advertisers an incentive to try online coupons:
Create packages to entice advertisers to run more than one coupon at a time to increase your revenue faster. In our system, you would just divide the monthly spend and enter that for each coupon.
Bundle coupons with additional advertising to increase performance and your average sale.
SignPost, Local Offer Network, Boomtime, Analog Analytics and Second Street Media now incorporate a range of local offer formats. These can include deals, coupons, gift certificates and contests. So is San Diego-based Deal Current, which is specifically focusing on coupons to move beyond deals: both traditional, flat rate coupons, and performance-based coupons.
While deals remain attractive for their games- like excitement – especially in high margin categories — coupons are preferable to deals in many instances. They don’t churn as much and aren’t as time pressured – coupon customers tend to stick with the channel for years on end, and tend to add to their budgets as results are proven. They also work everywhere, unlike mobile-limited channels such as Groupon Now; and they don’t require businesses to share revenue.
Deal Current’s innovation with coupons is offering a performance-based option. It enables publishers to work with advertisers with no upfront costs. As President Patrick Dillon notes, “It is like AdSense, but better because you don’t pre-fund the account.”
Dillon notes that a performance-based model incentivizes publishers to circulate the coupons around the Web with SEO and aggregators. A performance based coupon, in fact, might look and perform like a text ad, but will cost 40 percent less than comparable online ad choices.
2013 is going to be an exciting year for local advertising. We know that with a new year, comes a new revenue budget, and sometimes new vendors to serve you better.
We wanted to share a testimonial from San Diego 6, CW, about why they chose Deal Current over any other provider in the market to power their Meals & Steals program.
“As a station, we were very happy with the level of service that Media Web Connect provided us over the years.
However, we were looking to grow and expand our program. We were courted by many different vendors, but ultimately decided to partner with Deal Current based on their professionalism, presentation, expertise, and of course…the Network. By using their Network model, we always have a full slate of offers on our site whether it’s one of our clients’, or one we’ve picked up from the Network. This has increased our traffic and sales.
My biggest concern was moving over everything we had built with Media Web Connect and launching with Deal Current. That fear disappeared very quickly as the Deal Current team walked us through each step in a clear and efficient manner. We did not experience a single issue during the transfer. “ – Scott Potter, Local Sales Manager, San Diego 6
If you would like to learn more, please email us at email@example.com.
Here is the official release:
Canal Partners and San Diego Tech Coast Angels Fund Deal Current Network to Accelerate Growth
San Diego based Deal Current Network aims to create the largest performance-based offer network for local publishers and advertisers using its fully hosted offer software, coupon software, and distribution network.
San Diego, CA – September 24, 2012
Deal Current Network, a leading provider of local coupon and offer software that helps media companies enter and win the local e-commerce battle, today announced that it has raised venture funding from Scottsdale, Arizona-based Canal Partners and San Diego members of the Tech Coast Angels. The addition of capital will help the company accelerate growth, by boosting sales and marketing, and advancing their technology. As part of the funding, Todd Belfer, Managing Partner at Canal Partners, and Jon Belmonte, former COO of Active Network (NYSE:ACTV) and current Principal of Cedar Ridge Ventures, will join Deal Current’s Board of Directors.
Launched in April 2010 by CEO Jimmy Hendricks and President Patrick Dillon, Deal Current has quickly become one of the fastest growing local offer software companies and offer networks in the nation. “The Deal Current management and team are excited about the addition of Canal to our board and company,” said Hendricks. “We spent several months working with the Canal team to make sure our goals, culture, and vision were aligned and found them to be the best venture capital for our company. We believe with their guidance and our vision, we can build a company that can be a leader in local commerce.”
“As the web continues to evolve, media companies are changing the way they do business with their customers,” commented Belfer, Managing Partner of Canal Partners. “The local offer space, although fairly new, will play an important role in the online revenue strategies of local media companies going forward, and Deal Current’s platform enables monetization with or without a local sales team and maximizes ROI for small business advertisers.” Canal Partners specializes in Internet technology and software as a service companies that are revenue-generating and growth-oriented.
Belmonte commented, “There’s a tremendous opportunity to help media companies and merchants regain control of the local commerce space, and Deal Current Network is perfectly positioned to enable that shift. I’m excited to continue working closely with their executive team and now Canal Partners, in the pursuit of that goal.”
“Jon’s expertise in creating and leveraging networks to drive online transactions and consumer media will be an excellent resource as Deal Current continues to expand.” said Belfer.
Deal Current Network provides a fully hosted offer and coupon platform for broadcast and print media publishers, direct advertising agencies, online communities, and independent business owners. The user-friendly platform provides superior visibility into daily sales, network affiliates, top customers, and tips to maximize performance. By utilizing the Deal Current Network, clients can source and access deals from any other partner within the network. This increases distribution capabilities and most importantly replaces the need for a large sales team, like Groupon or Living Social, by improving revenue shares for advertisers.
About Canal Partners
Canal Partners is a private equity firm that provides professional investor capital to software and internet technology companies that have market-proven products and services, with an enterprise value of $2 to $10 million. Founded in 2007, Canal’s managing partners are serial entrepreneurs who have successfully created significant value in both the public and private sectors. They actively participate in board, advisory, and support roles to build market-leading companies.
About Tech Coast Angels
Tech Coast Angels (www.techcoastangels.com) is the largest angel investor group in the United States. Its members provide funding and guidance to more early-stage, high-growth companies in Southern California than any other investment group.
TCA members invest in companies in a wide range of industries, including the life sciences, biotech, IT, services, retail, Internet, financial, software, media, consumer products and tech startups. TCA members give companies more than just capital; they also provide counsel, mentoring and access to an extensive network of potential investors, customers, strategic partners and management talent. TCA has more than 300 members, including its venture capital affiliates, in five networks in Los Angeles, Orange County, San Diego, Central Coast and the Inland Empire.
About Deal Current Network
Deal Current Network is a leading coupon and local offer software and marketing solution for media publishers and business owners. Clients include NBC San Diego, Triton Digital Media, Clear Channel Orlando, Pittsburgh Post-Gazette, and many other media companies. In addition to software, they give their partners a full marketing, sales, and operational plan to ensure they run profitable local offer programs.