I’ve got about 10 yoga studios across the country who have done daily deals, almost all of them have done Groupon and a few others.
Here are some big takeaways we’ve learned from these service based small businesses:
- Better ROI than buying an ad in print. They love it compared to traditional advertising because they know how many units they’ve sold and how many folks to expect will come in.
- Learned from their small business owner friends. They’ve started negotiating terms and found workarounds to alleviate the flux.
- Converting leads to customers is key to stay in business. They use BizeeBee to track expiration of redeemed daily deal so they can re-engage with them, and we’re currently building more tracking to help them convert leads to customers.
Also here’s an email from one of our users who is a merchant in San Jose who did a deal this past weekend. Got a few more that are more compelling.
What I can tell you so far is that we have sold 425 .The offer ends tonight. We have had about 5 phone calls and 1 person has come to a class.
We did say that they must call to register before coming. This is because we want to steer people into classes and keep numbers down and open new classes if and as necessary. Who knows if people really will call before. We have told the teachers (who are all being very cooperative except for one who is not participating) that they can turn people away if they have not registered in advance. It will be up to the teacher.
Remember, our teacher’s pay an hourly rent regardless of how many students. They will make $3 per student and Yoga Fitness will actually make nothing except the exposure. We really are a different business model. We are relying on our teachers to do some bookkeeping for us as well. They normally show nothing to us as far as their attendance and this will be causing them extra work and possibly unpleasant situations.
It was a big decision for us. I think it can be potentially alienating to our current students but I think the majority will be understanding and supportive.