Say Hello to Social Buying

The 3 main Social Buying Firms

You may have seen Social Buying featured In the news over the last few months, but what is it and what does it mean for your business?

Lets try and keep it simple, its club shopping online for the savvy local, they are offered daily discount vouchers for local businesses which either become valid once a certain number of people buy them or are limited in numbers, sharing the deal can sometimes earn them rewards as well.

The great thing about Social Buying is that it is locally based which means it’s a great hook for driving new custom and bringing back old customers, not only that but there are no up front costs and the cheque for the pre paid vouncher’s ends up with you well within 30 days. The company you use does take a small cut as you probably expected.

Is this just a fad though? Google’s rejected $6bn bid for the Groupon the biggest of the social buying players says probably not, but 2011 is tipped to be the year that we’ll find out.

The main UK operator at the moment is www.livingsocial.com covering 12 areas from London to Newcastle. Why not check out the deals in your area and see how it works.

Liked this post? Subscribe to our RSS feed and get loads more!

Do you have an opinion, tip or suggestion related to the above post? Then please let us know by leaving a comment below or send us a Tweet @fasthosts and add the hashtag #fhblog.

Be Sociable, Share!

    Leave a Comment

    CAPTCHA Image

    *