How to Make Money Online with a Coupon and Deals Website
The best way for you to make money is by helping others save few bucks. With the rise in the cost of living and inflation, people like to save money. Even though the Internet is full of coupon business and deal websites, but by providing excellent service, you can make a fantastic site. [ Must Read: How to Start an Ecommerce Site. ]
What are Coupon and Deal Websites?
Coupon website: Coupon business website provides its users with discount codes that they can use online while purchasing products and services. The products and services can include everything ranging from electrical goods to household items to flight tickets to web hosting and much more.
Deal website: The merchants provide daily deals to the users provided if the site could create enough volume to avail it. Once the minimum target accomplished, the credit cards of customers who bought the deals shall go for billing, and they can take a print out of these vouchers, which can redeem at the restaurant, stores, resort or spa or wherever the merchant’s business is.
The majority of these deals are short-term and generally last from one to five days. The primary goal is to attract customer’s attention quickly and get them to buy the products quickly before time runs out.
Pros of Running a Coupon Website
* These websites are not heavy on content hence if you are not much into writing blog posts or articles then this is a good idea for you.* Provide benefits to the customers through discount codes so they will be content and happy.
* There is a lot of scope for these websites and can use to various industries such as fashion, retail, grocery, movies, restaurant, spa and much more.
* The coupon business and deal website is a multi-billion dollar industry so there is a lot of opportunity and money for everyone who can run a great internet site.
* If you have innovative ideas to receive links from reputable websites, you will rank well as most coupon sites have useless links.
Cons of coupon and deal website
There is lots of competition in large markets, which makes these markets full, but if you are willing to niche down, you can benefit, as there are not many niche coupon sites around.Receiving traffic from other sources can be difficult as people like to look out for coupon codes when they are purchasing something. Hence, creating a community and being innovative with traffic generation is necessary.
How to Start an Online Business with a Coupon and Deal Website?
Decide the type of coupon codes you want to list:
Coupon sites provide its users with coupon codes whereas daily deals website provide daily deals for a product or service. In addition, it is a waste to compete with large billion dollar companies, who have better market share under their control.
You should think of something, which is a small business yet in high demand.
Planning your website:
You should have a clear idea about your short-term and long-term objectives before you plan to develop a coupon business or daily deal website. Further, you should decide upon the area where you want to cover, whether it is going to be the whole country or some particular cities.
Getting your website financed:
One of the most important expenses while creating such website is going to be the marketing. A daily deal website needs to market targeting businesses and consumers equally, so you are going to spend an enormous amount on online as well as offline marketing. Make sure you have enough capital for this purpose.
Creating a Coupon Website:
It is one of the most important parts of the deal. A coupon or deal website should be colorful, engaging, and attractive and make sure that it does not seem to be too much cluster in appearance. If you have decided to have your business in many localities or cities, you need to have a good navigation system.
Though not necessary, it is a good idea to add a blog or few articles along with the deals to help your consumers to understand how to make the most of these special deals.
Your main objective should be to create a site, which is simple for your customers to use. In addition, you should add a privacy statement and terms of service on your website for clients and even merchants.
Buy a domain name:
If you think that you are saving money by not getting a domain name and using the services of a free web host, but in reality, it gives your website an unprofessional look, and it also imposes limitations that can affect your success.
You can buy a domain name for less than $100 and get a year of free Web hosting.
Ask the users to sign up:
You are providing the deals, coupons and information without any cost but what makes the website a successful one is a targeted list of subscribed visitors. The simplest way to do so is by having an email list. It will help you in emailing new offers and deals to the customers.
It is also a good way of marketing for your website.
Marketing your website:
To ensure that your website is successful, you need to advertise your services to merchants, consumers and online business entities with same efforts. You can begin by targeting the famous spas in your area and attract them into providing exclusive discounts. To make these firms do that, you need to prove them that your website is just not like every other website littered on the internet.
For this, get few sales representatives to visit and meet the owners since most of the small business owners are not very aware of the immense power of the Internet and social media. For marketing, you can also use social media, such as Facebook, Instagram, and Twitter to advertise your deals. Also, pay equal attention to off marketing strategies as well. [ Must Read: coupon marketing ideas ]