How to Sell on Groupon
Groupon is a daily deal site that basically offers ‘group coupons.’ People come to Groupon to find amazing deals for good and services. They receive these amazing deals when a group of people buy the products/services in advance (learn more at Groupon.com).
The important thing to note about Groupon is that they have millions of eyeballs and subscribers who come to their site to purchase stuff. So if your product is chosen by Groupon, then you have the potential to get your product in front of millions of people who might buy your product!
The downfall however is that you have to provide a substantial discount for your product in order to entice people to buy on Groupon. And this obviously gets tricky with wholesale products. Plus, Groupon takes a cut of every product sold on their site.
However, the idea is that you can make money on the volume of sales you receive from selling on Groupon and more importantly, you can expose your brand to people who might not have known about your product in the first place.
To learn more about how to submit your products to Groupon, Click Here.
Now selling on Groupon is not for every product. So I don’t advocate this option unless you have really thought it through. For instance, if you are not going to make any money on the deal, then maybe you shouldn’t do it? Up to you! As a sales professional, I always focus on generating revenue. But if exposure for your product is all you care about, then it might be the way to go.
One more thing to note – products that do better on Groupon are products that are either discounted heavily, great gift items and/or have a massive appeal. Just food for thought.
To Your Success,
P.S. If you want to learn more about how to sell your products on a massive scale to retailers, check out Retail MBA! Absolutely no sales experience or existing buyer relationships required!