So many companies are flocking to Groupon and other group buying discount websites, thinking that they are the be all and end all of promotion. It’s a proven fact that these sites can send quite a large quantity of customers to your establishment but its also a well known fact that you’re going to lose a lot of money in order to do that. I was talking to a restaurant owner earlier this week that had recently offered $30 in meals for $15 on a local group buying site. Out of the $15 collected, they will receive $6.80 per purchase. The site did manage to sell 268 coupons in two days meaning this particular restaurant will be offering potential customers $8,040 in meals for $1,822.40 in revenue. Continue reading “Is a Groupon promotion really a great marketing strategy for your company?”
marketing
Keep your marketing efforts current… dammit!
My 2010 New Year’s Resolution was to update this blog more frequently and so far I feel I have failed thus far. 6 days in and this is my first post. I promise I will endeavor to do better for the remainder of the year.
Businesses are always looking for new and innovative ways to promote their products and services but sometimes forget the basics. One basic concept that I have had pounded in my head many times is that your marketing efforts need to remain current. Continue reading “Keep your marketing efforts current… dammit!”
Time to hang out my shingle
I have worked in the newspaper industry for the last 13 years and have been relatively unhappy with it for the last five years. As companies lose circulation and advertising revenue the natural course of action is to cut expenses and full time equivalents leaving the remaining staff with additional duties, tasks and responsibilities. After working I don’t know how many consecutive 50 hour work weeks I decided it was time to move on (or perhaps take a break) from the business.
Continue reading “Time to hang out my shingle”