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Methods To Make Money In The Daily DealIndustryPosted on August 5, 2011 by HC Consulting GroupOn Wednesday, we discussed 5 methods to generate revenue by running a daily deal aggregatorwebsite, and today we are going to be broadening the spectrum and discussing ways that peopleare generating revenue from the daily deal industry as a whole.There are a lot of various areas that one can get involved the daily deal industry.Be A Publisher. The most obvious way to get involved the DOD industry would be to createand launch your own daily deal website. There are daily deal sites in existence in manygeographic locations as well as niche markets, but that does not mean that the potential to createand launch your own daily deal site is still not very much doable with the potential to pullprofits.A few months back I discussed 18 Business Ideas and many of those ideas are for niche specificdaily deal sites… Since writing that post a few of the daily deal ideas have materialized, butmany have not – and the potential for you to create your own daily deal website, put a uniquespin on it or choose a fresh geographic location is wide open.You could use DailyDealBuilder.com, our pre-built daily deal software that allows you to have aproven platform and technology up and running quickly to allow for a quicker launch. Weprovide example contracts to lock deals in with, HC Traffic Pro traffic software to help you geteyeballs to your site, and full support to help ensure you are making the right moves… We alsonegotiate and have a deal feed through iCouponOnline where we can run deals through yourwebsite for you and you focus solely on driving traffic and getting eyeballs to view your website.You could also develop your daily deal site from scratch, but I highly recommend to use aservice like Daily Deal Builder, even if you want to fully customize it – as you won’t be buildingfrom scratch – but instead from a platformready to be launched. With DailyDealBuilder – wegive you full capability to customize and update your website if you desire to – or – you couldsimply stick with the out of the box solution, because it works and does the job needed to do.As a daily deal publisher, you will typically generate revenue by getting a percentage of the dealthat is offered on your website. There is no set-in-stone industry rate that publishers get, but theaverage that I have seen is that most daily deal publishers strive to get 25%-50% of the revenuegenerated from selling a deal on their site.Run a Daily Deal Aggregator Site. If you have followed my blog, you will have noticed that thepast week we have discussed the benefits and potential future value to run a daily deal aggregatorwebsite that pulls deals from the most popular daily deal sites on the web. Running a daily dealaggregator really makes sense for the end consumer because people don’t want to subscribe to 20
different daily deal sites, when they could subscribe to one or two aggregator websites that showthem all of the deals from their favorite places.This has been, and will continue to be a HUGE opening in the daily deal industry to allow you toeasily get involved and begin to cut yourself in on the massive pie, as witnessed by Google justrecently acquiring dealmap.You could use a DODAggregator.com, our pre-built daily deal aggregator platform that allowsyou to run a deal aggregator basically on autopilot. You could generate revenue from running anaggregator through affiliate commissions (when & where applicable), Advertisement revenue,list management, Joint Venture Opportunities, and social media.Other types of Aggregation. There are other forms of aggregation that you can do to getinvolved in the daily deal industry. You can aggregate and report on news in the daily dealindustry, such as DailyDealMedia.com.You could aggregate daily deal companies and host an event. We will be at the Daily DealSummit in Chicago, Sept. 8th & 9th, 2011 (let us know if you plan on attending also).Sell A Product or Service On A Daily Deal Site. If you run a store or have services or products,you could feature one of your products or services for a discount on a daily deal website. If youdo feature one of your products or services, you will have to offer it at a discount (usually 40%-90% retail value) and you will typically have to cut the daily deal publisher into the mix.You need to be sure you carefully figure out a maximum number that you are willing to sell, andpotentially a minimum number (if the daily deal site uses group buying power).There have been many scenarios where businesses have gone into the hole by featuring one oftheir products or services on a daily deal – but there are hundreds of examples where themerchant came out very well.Just be sure to do your homework and have a good follow up plan to make the couponpurchasers – repeat customers. Also be sure to have your terms and conditions mapped out veryclearly in advance. You could run a deal through our network of publishers by email@example.com.Deal Broker / Sales Rep. You could generate revenue in the daily deal industry by brokeringdeals with merchants and daily deal publishers. You could potentially do this as free lance work– but your best bet would be to get in touch with a daily deal site in your geographic region andwork for the daily deal site. You will probably earn a salary and have it coupledwith commissions based on the deals that you set up.Capital. One of the ways to create economic value is to use capital to invest in a business bypurchasing an ownership stake in a business, then collect a corresponding portion of the profit asa one-time payout or ongoing dividend. There has been a lot of venture capital money that has
been invested into the daily deal industry and in 2011 alone, there has been over $1.6 Billioninvested.Developer. As a developer, you are in great demand in the daily deal industry. Whether or notyou want to work for a daily deal site already running, or help a client develop a daily deal sitefrom scratch… There is a lot of room for developers and designers in the daily deal industry.The above are a few of the major ways that you can get involved in the daily deal industry andmake money. By no means is this an end-all-be-all list, and the potential is just about endless.Make moves today,Marc HorneHC Consulting Group