What four additional online marketing tools do you believe could be important to the growth of your business?
How could you integrate them into your current strategy?
If you choose to create a new account in GooglePlus, create a location on a Google map, let us know.
For my business as a new business list provider I would say that LinkedIn, Groupon, LivingSocial, and Yelp would be conducive to the industry I would be in. So here's the strategy for each one I would try to implement.
LinkedIn strategies
1. Sign up and find industry related articles and topics.2. Read, participate, do Q&A with like-minded individuals and groups.
3. Post recommendations, endorse others, network and promote my business.
Groupon & LivingSocial Strategy
Strategy for my business list service:
I would be using these coupon marketing sites to try and add incremental new business on a rotating basis with promotional specials for different market demographics.
I would be using these coupon marketing sites to try and add incremental new business on a rotating basis with promotional specials for different market demographics.
My
coupon campaigns would differ between the two sites utilizing promos
such as 2 months subscription for the price of 1 and a 3 market reach
for the price of 1 market buy in.
Yelp Strategy
For Yelp, I just plan on keeping it simple. Give the best priced service possible, Answer every question and issues as fast as I see them and if need be just follow the Costco mindset. Just refund their money 100% if they're not satisfied for any reason.I'd rather generate good and lose a little money than earn profits at any cost as I believe it will come back to me many folds and be reflected on my yelp reviews.
---------------------------------- Additional Info ---------------------------------
LinkedIn ranked 7th worldwide with 259 million user profiles behind the next highest number of 500.25 million for Twitter.
(Source: comScore Inc and Wikipedia)
Goupon and Living Social
3 Groupon vs Livingsocial Tidbits
2. Groupon turn down $3 billion offer from Yahoo & $6 billion offer from Google VS Living Social only just get the $175 million investment from Amazon.
3. Groupon’s investor are New Enterprise Associates. Eric Lefkofsky, Brad Keywell & Digital Sky Technologies VS Living Social are AOL founder Steve Case, U.S. Venture Partners, Lightspeed Venture Partners & Amazon.
Groupon
History, Business Model, Geographic Markets(Source: Wikipedia)
History:
• Groupon outgrew the campaign website ThePoint.com in Nov 2008.
• It's first deal was a half-price pizza offer for a 1st floor restaurant in it's building.
Groupon purchased the following businesses:
Groupon purchased the following businesses:
• Mertado (Jan 2012), a social shopping service based on the Facebook platform.
• Breadcrumb (May 2012), P.O.S. system and iPad app that targets local restaurants.
• Glassmap (Jan 2013), a real-time location sharing mobile app.
• Blink (Sep 2013), a european last-minute travel app for same day
• ideeli (Jan 2014), a clothing online retailer to break into the fashion world.
In Nov 2013, new features were added it's website was completely redesigned from a "deal of the day" experience to a "Marketplace" focus environment.
On December 3, 2013, Groupon recorded its biggest four-day weekend of sales (Black Friday through Cyber Monday) with billings reportedly up 30 percent year over year.
Following Amazon.com's December announcement on drone delivery, Groupon reacted with a plan for "Groupon catapults.
Business Model:
The company offers one "Groupon" per day in each of the markets it serves. The Groupon works as an assurance contract using ThePoint's platform: if a certain number of people sign up for the offer, then the deal becomes available to all; if the predetermined minimum is not met, no one gets the deal that day.
This reduces risk for retailers, who can treat the coupons as quantity discounts as well as sales promotion tools. Groupon makes money by keeping approximately half the money the customer pays for the coupon.
Unlike classified advertising, the merchant does not pay any upfront cost to participate. Groupon collects personal information from willing consumers and then contact only those consumers, primarily by daily email, who may be interested in a particular product or service.
Geographic Markets:
Groupon breaks into new markets by identifying successful local businesses, first by sending in an advance a number of employees to research the local market; when it finds a business with outstanding reviews, salespeople approach it and explain the model, and use social marketing sites such as Facebook to further promote the idea.
• Blink (Sep 2013), a european last-minute travel app for same day
• ideeli (Jan 2014), a clothing online retailer to break into the fashion world.
In Nov 2013, new features were added it's website was completely redesigned from a "deal of the day" experience to a "Marketplace" focus environment.
On December 3, 2013, Groupon recorded its biggest four-day weekend of sales (Black Friday through Cyber Monday) with billings reportedly up 30 percent year over year.
Following Amazon.com's December announcement on drone delivery, Groupon reacted with a plan for "Groupon catapults.
Business Model:
The company offers one "Groupon" per day in each of the markets it serves. The Groupon works as an assurance contract using ThePoint's platform: if a certain number of people sign up for the offer, then the deal becomes available to all; if the predetermined minimum is not met, no one gets the deal that day.
This reduces risk for retailers, who can treat the coupons as quantity discounts as well as sales promotion tools. Groupon makes money by keeping approximately half the money the customer pays for the coupon.
Unlike classified advertising, the merchant does not pay any upfront cost to participate. Groupon collects personal information from willing consumers and then contact only those consumers, primarily by daily email, who may be interested in a particular product or service.
Geographic Markets:
Groupon breaks into new markets by identifying successful local businesses, first by sending in an advance a number of employees to research the local market; when it finds a business with outstanding reviews, salespeople approach it and explain the model, and use social marketing sites such as Facebook to further promote the idea.
LivingSocial
History, Business Model, Geographic Markets
(Source: Wikipedia)
History:
• Founded as "Hungry Machines (07) by 4 employees from Revolution Health Group.
• First major application was their Visual Bookshelf application on Facebook.
• Later released PickYourFive & other Polls application on Facebook.
• This placed them #1 application developer on Facebook by page views.
• Following Groupon, settled a class action "expiry of deals" lawsuit in Nov 2012.
• Announced in Apr 2012 their password (no credit cards) database was hacked.
• In Nov 2013, their website went down for nearly 48 hours after a database error.
• Jan 2014, CEO Tim O'Shaughnessy announced his resignation, remaining CEO until a replacement can be found.
• Urban Escapes (Oct 2010), a social adventure company
• Jump On It (Nov 2010), an Australian social shopping site.
• LetsBonus (Jan 2011), a collective buying service is a majority stake holder.
• InfoEther (Mar 2011), Ruby/Rails consultancy & is the platform LivingSocial runs on.
• DealKeren (Jun 2011), offers daily deals in Indonesia, Thailand, Philippines.
• TicketMonster (Aug 2011), one of South Korea's largest daily deals sites
• ONOSYS (Apr 2012), a mobile and online ordering provider that services 75 restaurant chains including Papa Johns, Panera Bread and Applebees.
Good Deal Guarantee
In November 2013, LivingSocial introduced the Good Deal Guarantee. This offers customers more time to receive refunds when making returns. According to the guarantee, customers can get a full refund on any unredeemed, unscheduled voucher within seven days of purchase. After seven days, you can exchange an unredeemed, unscheduled voucher until it expires for the paid value in Deal Bucks. According to CMO Barry Judge, “This will help us to improve the consumer experience overall and to increase the value we offer to our merchant partners by helping them to attract the high-quality customers they desire.”
LivingSocial Coupons
In October 2013 LivingSocial launched “Coupons.” This allows consumers
to access and redeem over 15,000 free promo codes, coupons and
information on sales from over 3,800 retailers.
Yelp!
History:
• Founded in Oct 2004, Yelp started off as an email service for exchanging local business recommendations, and later introduced social networking features, discounts, and mobile applications.Google offered to buy them in 2009 but failed to reach an agreement in terms of the sale.
Bought Qype in 2012, it's largest competitor in Europe and an online reservation company SeatMe in 2013.
The company's rating system and tools for filtering reviews have been the subject of both controversy and litigation. A Harvard business administration professor co-wrote a study in November 2013 that said that fake reviews on the site rose to roughly 20% in 2013.
Harvard Professor Michael Luca co-wrote a 2013 study that concluded that fake reviews on Yelp—good or bad—increased to 20% in 2013, up from 5% in 2006
Yelp Inc. has expressed dissatisfaction with business owners who have solicited reviews from friends and associates or paid for "fake" reviews.
In October 2012, Yelp implemented a system to "uncover companies that purchase[d] fake positive reviews" and ABC news published a list of companies who had offered to pay for positive reviews on Yelp Inc.'s website.
In October 2012, Yelp Inc. placed, 90 day, "consumer alert," possible paid review, warnings on its Yelp website for 150 business listings.
In June 2013, Yelp Inc. filed a lawsuit against BuyYelpReview/AdBlaze accusing the company of "selling Yelp reviews from unknown accounts to unknown third parties."
In September, Yelp Inc. filed a lawsuit against a San Diego attorney who had previously led litigation against the company, alleging that the attorney "had his employees write his [company's Yelp] reviews, and that he belonged to a cadre of lawyers who reviewed each others firms" on Yelp's website.
Yelp assisted the New York State Attorney General in an investigation that led to $350,000 in total fines for 19 companies "that were writing fake reviews for small businesses that paid them."
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