LSS'11: The Timely Death of the Daily Deal

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The Timely Death of the Daily Deal [and the Birth of Everyday, Everywhere, Every Way Deals], A Daily Deal Insider Speaks. Perry Evans, CEO Closely …

The Timely Death of the Daily Deal [and the Birth of Everyday, Everywhere, Every Way Deals], A Daily Deal Insider Speaks. Perry Evans, CEO Closely

The industry surrounding Daily Deals is rapidly morphing from one-deal-per-day delivered via featured email campaigns into offer exchange networks and live mobile commerce, and loyalty promotion. This talk profiles these changes, and highlights the challenges to merchants, media publishers and consumers within an industry in rapid reconstruction.

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  • 1. The Timely Death of the Daily Deal …and the birth or every day, everywhere, every way promotion. Perry Evans CEO, Closely Inc. Local Social Summit London, November 9, 2011
  • 2. The Daily Deal 2010One deal per day, per metro area, emailed to you, with a group tipping point.
  • 3. One Year LaterMany deals, various times, across locations via email & mobile. X X X X X One deal per day, per metro area, emailed to you, with a group tipping point.
  • 4. Are we in a revolution?Are Daily Deals thecenter of your future Pfft, no.marketing spend?
  • 5. Are we in a revolution?Should you promote yourselfdifferently for the mobile Of course.social consumer?
  • 6. Daily Deals represent one[highly visible] element of the reinvention of direct marketing. and the path towards yield management.
  • 7. Novelty vs. Novel?Consumers: Businesses:• Can finally “price shop” locally. • Love the underlying concept.• Showing need to be constantly • Hate business model and lack re-acquired. of control.• Consumer is empowered, • The most desirable and no turning back. simplest consumer action.
  • 8. Some Industry Shifts• Product Patterns• Distribution• Merchant Experience• Consumer Targeting
  • 9. Product Patterns• Stepping towards yield management – Time/date – Product type/packaging• Return visits & loyalty• Smarter, more contextual promotions
  • 10. Distribution in Rapid Transition• The Rise of Offer Networks – Google, Amazon, Yipit, LON, Tippr, … – Diminishing returns on consumer email• Food Chain is in Formation – You Don’t Have to Win with the Consumer to Play• Placement Expansion – Search, Mobile, Maps, Display – SMB web pages
  • 11. Merchant Experience• The Noise is Overwhelming – Revert to major brands and trusted relationships – Open to breakthrough products• Merchant Tools Evolving Quickly – Redemption – Tracking & Analytics• Everyday Promotion Dashboard – FB, Groupon Now, Twitter intro SMB to live publishing
  • 12. Consumer Targeting• Personalization – Filtering is critical• Verticalization – New brands + commerce for known brands• Integrate into search & mobile behavior
  • 13. Industry Shakeout• Failure of low value clones• It’s not as easy as it seemed o Growing cost of email acquisition o Diminishing action rates• Merchant loyalty o Single-product model challenged
  • 14. Implications for Local Media
  • 15. When Shopping Models ShiftHOTELS• 1990 – The Rack Rate – Reservations centered – Agents controlled promotion• 2010 – Variable pricing – Time, quantity, duration, auction – Pre-purchased dominates – Integral to purchase decision – Direct-to-customer loyalty
  • 16. Redrawing Promotion DistributionMedia & Commerce Channels Campaigns: Scheduled + Live Organic Distribution Promotion “SEO/API” Social Audience Social Marketing Customer Loyalty & Referral Marketing Merchant Promotion Content & Dashboard
  • 17. Redrawing Promotion DistributionMedia & Commerce Channels If your business is here. Organic Distribution Social Audience Playing here may be mission Customer critical. Merchant
  • 18. Babies can be unattractive, but…