According to BIA/Kelsey, local media and advertising experts, US spending on daily deals... is expected to hit $2 billion in 2012 and grow to more than $4.2 billion in 2015.
Will Black-owned businesses miss out on this growth?
To avoid missing out Black business owners should seriously consider this approach to reach the fastest growing segment of connected users -- the Black consumer.
There are five areas of consideration that Black business owners should take into account when thinking about using this marketing strategy. Like any other strategy, understanding the best practices can help ensure success.
- Increased Communications -- The frequency of communications with customers and subscribers is the key to raising awareness of your business and your products and services. It is important to send deals only to subscribers who have given you permission to communicate with them. Select a deal-a-day service that enhances your reputation without making subscribers feel like they're being spammed.
- Exclusive Offers -- Customers are always looking for bargains, but they also like to feel exclusive. One of least exploited characteristics of many Black-owned businesses is that they offer products that are exclusive or are available in limited quantity. This can be a marketing advantage that makes deals from Black-owned businesses more attractive to selective shoppers. An exclusive offer can introduce new customers to a wider selection of offerings not generally available in the mainstream marketplace.
- Selective Targeting -- Many of the products offered by Black entrepreneurs are suitable for all shoppers, however, many are targeted to the Black consumer. The major deal sites don't provide for selective targeting of Black consumers. Black entrepreneurs should look for a deal site that can enhance their exposure to the Black target audience. iZania Market Deals is a daily deal site that can help extend the reach to Black consumers.
- One Size Fits All? -- No single deal is so amazing that everyone on your list will want to know about it. When you are considering which deals should be sent to which subscribers, data is your best friend. There isn't much data mining in this arena about the behavior of Black consumers. Your marketing provider should have enough data to determine which deals will fit the target audience you are after. Sometimes trial and error produces the best data to inform future deals. Don't be afraid to explore the possibilities.
- Spreading the Word -- Success in this arena depends largely on the behavior of subscribers who pass along offerings to their friends. Consumer behavior is what is fueling the growth. Social network activity among Black consumers is growing faster than the general public. Merchants who tap into this growth will also benefit from increased sales.
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Roger Madison, CEOiZania, LLC BLOG COMMENTS POWERED BY DISQUS