As consumers we love great deals, but do the social coupon offers make sense for small businesses?
For most businesses they are tempted to buy into social coupon sites like Groupon and Living Social. I've seen so many small businesses walk away after they have bought into the "social coupon craze" realizing they may have not only lost money, but diluted their brand.
The promise behind introducing new customers to your businesses and gaining regulars that are willing to pay full price is a wonderful fantasy for business struggling to make it in today's market. The unfortunate thing is that's not the outcome majority of businesses see.
Social media coupons site attract bargain shoppers that are looking for the greatest deal and they do not build loyalty. If you were to ask 10 businesses that participated in social coupons if it was worth it, 7 of them would tell you no.
Social media coupons often don't make financial business sense and I'll show you why in Social Coupons - Good for the Small Business?
Your Turn: What's your experience with social coupon offers? Share your story.