Do Daily Deals and Flash Sales Help A Business? Itâ€™s pretty cool, the world of marketing today. I donâ€™t know how difficult or costly it used to be back in the day, but marketing and advertising today is fun, exciting for the most part, cheaper than ever. At least for MOD and a lot of other companies I know.
Saarinen Executive Arm Chairs Reupholstered By MOD People often ask me how we were able to pull off building a reupholstery shop with 10 full time upholsterers in less than a year. I attribute it to the amazing world of online marketing: Flash sales, daily deals, social media and Google. Daily Deal Sites When we decided to switch MOD Restoration from a furniture repair company to a reupholstery company in March 2011, I turned to Groupon to feature our first reupholstery deal. We sold 95 coupons, and went from zero to 95 reupholstery clients in 2 days. We were suddenly in business and spent zero dollars in advertising.
Herman Miller Sofa by George Nelson Reupholstered by MOD Since that first career-changing deal, we did several more â€“ with Groupon (sold another 80), Gilt City (sold 50), and a few others. They served an incredible purpose. The deals reached millions of people locally, and it gave us exposure that we would have never been able to get (short of spending tens of thousands of dollars). These deal sites literally kick-started our reupholstery business, and has increased revenues for many other established companies I know. My friend Diane who owns a motorcycle driving school, Motorcycle Safety School, had tremendous success with doing daily deals. She sold over 1500 driving lessons, which she would not have gotten otherwise. Flash Sale Sites
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I recently got in on the whole flash sale phenomenon. In fact, if you take a look at the vintage furniture section on Fab.com today, you will see our first flash sale ever. The mid-century furniture sale has been featured for less than 48 hours, and we already had astounding results: The phones are ringing off the hook; we’re getting online inquiries every 5 minutes from prospective clients looking to reupholster their furniture; and so far, we sold almost $10,000 worth of furniture pieces (with 5 days left to go!). Internet Business Training 4 Online Maximum Success University Internet Business Training For People Who Are...
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The most fascinating part for me is that Fab is only 15 months old, and according to their CEO Jason Goldberg, Fab and One Kings Lane (another great Flash site) are expected to generate a combined $300M this year! That’s millions of people making millions of purchases every day. Un-freakin-believable.
Saarinen Womb Chair Reupholstered By MOD It really is a win-win situation for everyone. The consumer gets a great deal, the business owner gets a chance to market their product to an insanely large audience, and the deal site gets a piece of the action for making it all happen. Even Apple (NASDAQ: AAPL), who’s stock is at a record high (especially after the $1 billion court victory against Samsung this week!) is currently in negotiations to buy The Fancy, another flash sale site. For us entrepreneurs, we are lucky to have so many low (or no) cost marketing options today. Aside from the daily deal and flash sale sites, small businesses get great ROI by advertising marketing themselves on Twitter, Facebook, LinkedIn, Angie’s List, Yelp, etc – all of which are definitely cheaper and more effective than spending $6000 on a full page one-time magazine ad. Advertising on search engines are a biggie too, such as Yahoo, Bing – and of course, the king of all kings – Google (where we spend most of our advertising budget on).
Djinn Fireside Chair Ottoman Sold on Fab.com Don’t get me wrong. If someone gave me $100,000 to spend on advertising, I’d definitely go for a massive billboard in middle of Times Square Until then, I’ll continue going with what I know works (and can afford)! Are you a small business owner that found the daily deal or flash sale sites successful for your company? Have you found other marketing tactics that worked for your business? I’d love for you to share!
Follow me and MOD on: Twitter: @modrestoration Facebook: facebook.com/meetmod Do Daily Deals and Flash Sales Help A Business?
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