I just read a great article about media publishers entering the daily deal market on Business Insider written by Jim Moran at Yipit.
The article title reads:
The article covers some great points, but here is the most important part in my opinion for our clients and other media publishers.
Four keys for local publisher success
Focus on email. A page on a publisher’s site may fall short in effectiveness compared to a dedicated email subscriber base. Local content creators should drive dedicated email subscribers and leverage their existing email lists in their crafting their deal experience. The ones that already understand this, such as email newsletters, may have an easier time entering the fray. To this point, on the online sample front, DailyCandy already operates Swirl, and Thrillist recently acquired JackThreads. We may soon see these companies and others enter the local daily deal space as well.
Leverage legacy content. Local newspapers and magazines have a library of restaurant, bar, shop and service recommendations they made in the past. Just as studios leverage their film and television assets through DVDs, local publishers can point to past reviews in their daily deal offerings. Focusing on previously reviewed business may facilitate the sales process – local business who received sales boosts around their initial review would jump at the opportunity to be featured once more. Most importantly, utilizing historical endorsements maintains separation of editorial and commercial content.
Outsource. Some publishers face major internal hurdles to reorienting their web experience and marshaling their sales staff to roll out a full service group buying solution. Hosted group buying solutions, such as Group Commerce and others, who provide technology and/or sales solutions to publishers looking to present daily deal offerings to their consumers. Many of the publishers above pursue partnerships with existing deal services (such as four of the six above). Those may be an effective solution, but owning those email addresses for the long term will be key.
Present exclusive offers. As we mentioned in our analysis of Gilt Groupe’s daily deal offering, exclusivity can be a compelling aspect of a daily deal. Local publishers can present their offers as exclusive to their readers, reinforcing the value of the publication and adding excitement to their offer.
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