Social Discounts - 5 great ways to discount using social media

Posted by Clayton Smith on August 31, 2011

When it comes to selling your product, “discount” can be a tricky word. On one hand, discounts can be great for luring new customers or bringing back old ones, and they can also help move old inventory. But on the other hand, discounts often attract customers who are more price sensitive and less brand loyal. Discount purchasers are less likely to come back for more.

The reason is simple. Although you are giving buyers a reason to purchase (my wife would gladly trade my left arm for 40% off a yoga mat), you’re not giving them any reason to be charmed. There’s no interaction, no engagement, no reason for someone to think, “Wow, this company really is something.”

But all is not lost! There’s still room for the discount in our highly connected, prove-that-you-deserve-my-loyalty-or-I’ll-go-online-and-find-someone-who-is world. Enter the social discount.

Part traditional discount, part social networking, the social discount allows you to attract price sensitive customers and strengthen your company’s brand. The next time you feel the urge to blanket the town with 10% off coupons, consider using one of these social discounting methods instead.

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Topics: Business, business, discount, facebook, gremlin, gremln, Groupon, Marketing, money, ROI, SCVNGR, social media, tips, twitter

Social Media - The Cost of Free

Posted by Clayton Smith on June 16, 2011

Okay, this may not exactly be news, but you know what? Social media is great. Social programs are easy to access, profiles are simple to set up, and these digital darlings can be used for social communication, professional networking, marketing, searching, news, popular culture studies…the list goes on and on.  The benefits of using social media are impressive, to say the least.  And hey. Did you know that they’re free? No kidding. For the grand total of zero dollars, every company in America can have its own Facebook, Twitter, LinkedIn, Myspace, Xanga, and Flickr accounts. Marketing directors should be jumping in the streets.

Right?

Well, no, not exactly. Despite the low (read: nonexistent) financial cost of entry, social media do come with cost baggage, and as we all know, nothing is ever truly free. Unless you have the best internship program in the world, you’re likely to expend quite a few resources when it comes to social media strategizing, content production and editing, strategy execution, impact analysis, et cetera, et cetera, et cetera. Social media may be free, but they aren’t publishing themselves.

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Topics: Business, business, gremlin, gremln, money, ROI, social media

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