ICT Competence: Intermediate
English Language Skills: Basic
Webshop Level: Well developed
Action type: Simple actions that can be implemented immediately, but require an investment
Invest in Group-Buying sites
Online group buying is a trend that appears in online marketing and takes advantages of social media influence.1 However, in order to be feasible, your online store should include useful products of high-quality that attract shoppers’ interest. Your site will allow the customers to form groups based on their interest and then suggest relevant products accompanied by a significant offer.2
Steps to Market with Group-Buying sites3
- Define your offer
It is quite common for some business to promote offers that seem ideal, mostly because of the high discount. However, when customers express interest they may discover that the offer implies details that are not clearly defined at first, and this might be unpleasant. So, make sure that your offers are desirable and transparent.
- Find the Best Group Buying Website in your Area
It is really important and indicative of your business to find the most suitable promotion website.
- Contact the Group Buying Website of your Choice
Some sites will only ask you to complete a form, whilst others might even ask for a phone call to make sure that your business is appropriate for their website.
Want to learn how to feature your products on group-buying sites? Click here to read more!
Positive and Negative Part of the Solution
Group shopping can help you make higher profits than the traditional marketing, or even improve your search engine marketing efforts.
The basic problem is that online group buying sites usually offer discounts to customers without knowing their interest on a particular product. Cookies must be placed.
Time required to implement a solution and when possible associated cost
It requires at least three days of research to find the website that is most suitable and two days for implementation.
Online group shopping is one mode of e-business, which can help you develop a customer base quickly to integrate off-line or other type of resources. This promotes your business, as well as gaining loyal customers as well.
Informative Text (Sources)
- Erdogmus, I.E. & Cicek, M. (2011), Online Group Buying: What Is There For The Consumers?, 7th International Strategic Management Conference, Procedia Social and Behavioral Sciences, SciVerse ScienceDirect, pp. 308-316.
- Desai and G. R. Kulkarni (2014), Necessity of customer inputs for online group shopping using Support Vector Machines, Proceedings of 3rd International Conference on Reliability, Infocom Technologies and Optimization, Noida, pp. 1-6.
- Retzepi, N. (2011), Group Buying Website Businesses: Model Analysis and Evaluation of Greek Cases, School of Science and Technology, International Hellenic University, retrieved from https://repository.ihu.edu.gr/xmlui/bitstream/handle/11544/491/Nikoleta%20Retzepi%20pdf.pdf?sequence=1
- Dang, L. (2013), E-Commerce Strategies of Group Buying Websites, Lahti University of Applied Sciences, retrieved from https://www.theseus.fi/bitstream/handle/10024/56671/Dang_Linh.pdf
- The Ultimate Guide to Group Buying Sites
- The future of Social Shopping
- What are the advantages and disadvantages of group buying?
Cross Border remark
It is claimed that there is an upward trend for social shopping. Especially, when combined with group shopping, businesses can get an astounding experience that can potentially appeal to millions of customers worldwide.