These days we are seeing websites, like Wikigains that share exclusive deals and coupon codes, becoming one of the most successful online business models. If you Bing “deals/discounts websites” you will easily find a huge number of daily-deals websites, but there is still a lot of “space” in this profitable niche.
The reality is that starting such a website will take much time and resources because you will have to compete with the larger companies. But, fortunately, there is a simple strategy that could help you get started with your “Deal website” and still make a decent amount of money. So, the best way to start such a website is to focus on the deals offered by local businesses in your city or state.
If you focus on the local business, you can capture a big part of the “deals website” market. That’s because even competition like Groupon is not strong in all regions – so simply, you can beat the larger competition in these particular locations.
We have created a simple step-by-step plan that could help you get started.
Finance and Budget
The first thing you have to come to terms with is, this type of business needs a substantial budget to start with:
- One of the larger expenses you’ll incur will be marketing. You will have to spend a decent amount of money on offline and online marketing because deals websites should be well-advertised to consumer and businesses.
- You will have to carefully plan your finances and budget because any type of a website, including a deals website, will take time to gain traction.
As in other types of business, you must have a solid and simple business plan:
- Start by creating some short-term and long-term goals for your business. For example, decide what territory you are going to cover, some particular cities or the entire country. You can also focus on specific type of businesses, such as restaurants.
- These goals would help you answer questions about what size of the market you are going to target and how many resources will you need for this.
Your next step is creating a site. Long story short, your website has to be:
- And, of course, fast
Your website has to be well-structured and the user interface must be clean and simple to use. It would also be great if you could create a “Blog” and add some good articles because a lot of quality content means good SEO which in turn means traffic to your website.
Start by targeting specific businesses and asking them to participate in your deals website (let them offer their discounts). But, to engage them into your business you have to make your website and your business trustworthy. To do this, you will need a sales manager. They will meet the business owners offline to pitch the idea and present your vision and the benefits you would bring to their business.
After your website is up and running and bringing in traffic and results, businesses will come to your platform themselves. It’s going to take time and effort, but once your sales manager doesn’t have to constantly pitch the idea and people come to you it will be worth it. This is when you should start seeing tremendous growth.
Through your establishing period, it may be a good idea to have a sales representative meet with your local business owners to discuss how you’re working for them. The sales rep can help these small businesses better understand your leveraging of the internet and social media so they can also help drive traffic to your website.
Starting any website is very hard work and can take a lot of time and commitment so good luck to you and we hope some of these tips were helpful.