Tag Archives: groupon

Small Business Marketing Reality Check

This week’s stories have me just a wee bit angry. So you might want to prepare yourself to be offended.

Start listening now to Social Media: Cheap and Easy

Small business marketing is far easier than most business owners make it out to be. But you do need to do some work, and professional advice is often helpful.

Have a look at www.SkyRoll.com. It’s the subject of our first story. More accurately, the bozo that owns it is the subject.

I meet way too many business owners who ask for advice on small business marketing, like this guy, and then disagree with me. It makes me want to scream “Are you KIDDING?!” This is why I’ve learned to weed out the problems by making business owners jump through hoops to get to me.

After I go to town on SkyRoll, we take a look at Facebook’s upcoming IPO.

Like Groupon, Facebook’s IPO is like to be successful. That is, Facebook and the investment bankers are going to make a whole lot of money. Also like Groupon, those who buy in are going to lose money.

Listen to hear WHY Facebook is doing an IPO – and HOW they’re preparing for it. It’s definitely odd, and should be screaming DANGER to every investor in the world.

Hear it all this week on Social Media: Cheap and Easy.

Then we’re wrapping up the show with a look at Occupy Wall Street. If I haven’t offended you by this point in the show, I probably will with this story.

After more than a quarter century of owning my own business, becoming a master carpenter, and writing 5 books in 19 months, I have little patience with anyone who whines about life being hard. Have you noticed a lot of the people getting press coverage over Occupy Wall Street are college professors? Talk about professional underachievers.

If you think lawyers are bad, we should stone the people who train them. That’s right, college professors.

I’m all for being social, but socialist is just insane. I’m a dedicated capitalist – everyone who listens to Social Media: Cheap and Easy knows it. And by the way, that means I’m first in line to put crooked bankers and corporate executives in jail. They give capitalism a bad name.

Just click the Instant Download link at Social Media: Cheap and Easy. And when you're good and riled, come on back here to leave your comment. Just click on the post title to go to the comment page.

Facebook and Groupon Losing

Facebook and Groupon losing ground with the government and investors.

The FTC  has already reached agreements with Google and Twitter over privacy issues. Now they’re close to reaching a deal with Facebook.

Unfortunately, the privacy problems seem to run a little more deeply with Facebook. That might be why the New York Times article indicates part of the deal includes Facebook submitting to privacy audits for the next 20 years.

In a follow-up piece to last week’s anticipation of Groupon’s IPO, we take a look at what happened after day 1.

Although the IPO was a success for Groupon – and for the investment bankers who raked in $50 Million in fees – it has been somewhat tempered by losses starting on day 2.

And we wrap up the show with a look at how social media is impacting social media.

It begins with a look at how people are responding to the announcement that several retailers are intruding on our Thanksgiving by opening at midnight Thanksgiving Day. Then we look at a study published by Market Tools that shows most business owners are not listening to what we have to say through social media.

And that leads us back around to Facebook, and their persistent reluctance to listen to user dissatisfaction with their privacy policies.

Real World Lessons For Why Less Is More

Sounds like a load of crap, doesn’t it? “Less is more…”

86 people paying $97/month equals $100,104 per year. Small number of people paying a fairly small sum.

Groupon says 80% of people actually redeem their daily deal coupon. And retailers hope that’s true because when that number goes up, they really start losing money. Now we have a lot of people getting a big discount and it’s driving business owners out of business.

This week, the whole show is focused on getting the real meaning of phrases such as “Go Big Or Go Home,” and “Bigger Is Better.” There are good uses for these phrases. The problem is that we’ve forgotten what they are.

Hear the solution on Social Media: Cheap and Easy.

From LinkedIn to Facebook to Google and Yahoo – everyone is enraptured with the idea of having access to a huge audience.

Open Networkers on LinkedIn think they’re making a value statement when they declare having thousands of first level contacts. The gurus and pundits declare there’s inherent value in advertising on Facebook and Google because of their massive audiences. But how many of those first level contacts do the open networkers actually have relationships with? And just how many people seeing your ad on Facebook or Google are going to do business with you?

The answers to these questions are clear in our first story. We look at specific reasons why people WON’T click on your ads, and just how much value is in someone having thousands of first level contacts on LinkedIn. These are real world lessons for why less is more.

In our second story, we look at the trend toward mobile computing. “Everyone” has a smartphone (actually, smartphones account for around 37% of cell phone usage), is getting a tablet, or has an Apple device, right?

Well why should that matter to you and your business? It’s corny, I know, but just like our mom’s always said: Just because your friends jump off a bridge, does that mean you jump, too?

There are a lot of folks screaming about one of the many new and shiny objects. They’ll tell you each one means the difference between life and death for your business. Right. That’s pure poppycock.

Get the straight story now on Social Media: Cheap and Easy.

I have said from the beginning that business have survived quite nicely without the internet and social media, and they can go on surviving without using them. Can these things bring in new customers, create new sales, and make for a better customer experience? Yes, they can. And I agree that you should give serious thought to using them. But they are a long way from determining the success or failure of your business.

Listen in and hear what the trends are with mobile computing among consumers. More importantly, hear just how simple it is to tune in to these trends and benefit your business.

Then we wrap up the show with some resources you can use – online resources – to get inexpensive office space, book events and even sell physical products.

And most importantly, we close this week’s show with a few choice words about what “bigger is better” really means. And you hear how you really should “go big or go home.” It all revolves around the Value Of One.

Hear it all in one place: Social Media: Cheap and Easy. Then start the conversation here with your viewpoint, agreement, criticism or comment.

Groupon IPO Is In Trouble

Turns out there's something to be said for being capitalist, and a rather large downside to being a profiteer. Unfortunately, Groupon is just finding this out.

The Groupon IPO is in trouble after the SEC (Securities and Exchange Commission) informed them their revenue reporting is out of whack.

Apparently, Groupon has been reporting the full value of a Groupon sale as revenue - in spite of having to give at least half that value back to the store owner. The result is that they've had to change their revenue claims from $1.52 billion for the first six months of 2011 all the way down to $688 million.

That has to be the world's quickest way to lose a billion dollars!

If you've been listening to the show over the last few weeks (SocialMediaCheapAndEasy.com), you know I've been driving home the difference between Profiteering and Capitalism. One of the targets of this point has been ALL the daily deal sites.

It's common to hear marketing and internet gurus talk about having the "tollbooth position." This is where you control access to the traffic - just like a tollbooth controls access to a roadway. People have to go to you if they want access to a particular audience.

The daily deal sites have taken this idea and exploited it to Continue reading

Facebook Killing Music Sharing

Is Facebook killing music sharing because they're profiteers or just ignorant?

Facebook is talking about bringing music sharing services such as Spotify, Rhapsody, Rdio, MOG and Deezer onto their site. The idea is to make your profile an entertainment hub. But how much of a hub will it be if it drives these businesses out of business?

Very few online music services are profitable, and they have a model that causes them to lose money every time a free subscriber joins. After all, even “free” music requires a royalty paid to the record companies.

Pandora, which had a successful IPO, has yet to make a profit. Martin Scott from Analysys Mason estimates Spotify had a $6 or $7 million dollar profit in 2010, and Rhapsody’s president Continue reading

Is Groupon Worth 75% Of A Sale?

Welcome to our new 243 community members. Thank you for joining us.

This week's episode of Social Media: Cheap and Easy brings up several points that need more discussion. But since I promised to keep each post to one topic...let's focus on Groupon and your small business advertising.

FYI - the other topics are:

  1. YouTube - how to use it, and video in your marketing
  2. Social Media TV - we're ready to launch the TV show (video in action)
  3. Integrated Marketing - this one episode covers e-mail, video, coupons and lead generation

I'll know you're interested in these other topics based on how you comment on this one.

Now on to Groupon...

They're in the news this week because they're Continue reading