The ample praise bestowed on the big group buying sites like Groupon, BuyWithMe, and LivingSocial died down long ago. The horror stories of daily deals gone wrong for businesses killed the buzz. But don’t think for a second that group buying or group coupons were just a fad. We’ve only seen an introduction to a business model that has yet to mature. Remember, this isn’t the first time group buying was attempted online. In the near future, we’re going to see a shift to “white label group buying” applications.
What Is White Label Group Buying?
White label group buying is collective purchasing offered or initiated by individuals or organizations. This is directly in contrast with group buying facilitated through third-parties like Groupon. A glaring example of a white label group buying platform is right under your nose: LetsPool!
Why Will We See A Shift To White Label Group Buying?
The group buying concept at its purest makes a lot of sense. It’s an opportunity for people to make more of their financial resources when deciding how to access goods and services. At the same time, vendors can use group buying to get stock off the shelves in record time. It’s — ideally — a true win-win situation for everybody involved.
One of the biggest problems with daily deal sites as we’ve known them is high customer acquisition costs. But two things are on the verge of transforming the game. (1) White label group buying platforms, and (2) social selling.
When White Label Group Buying Meets Social Selling
Any vendor or individual with an online audience can make group buying work. Attract and engage customers with social selling. Organize group buys with white label technology. It’s this simple realization that will spin group buying (as we’ve known it) on its head. Some of the benefits of using white label group buying technology include:
- The possibility of generating additional revenue by offering to promote deals from partners and others to your customers. This is already happening with the highest ROI records for group buys in automotive forums. This product was produced for the Jeep Cherokee KL as a result of a group buy. Talk about lean manufacturing!
- Switching deals on/off on your schedule — not someone else’s — and avoid exclusivity contracts enforced by the likes of Groupon and their competitors.
- Adjusting your offers based on key performance indicators, all of which are available in real-time.
- Getting people to sign up for your deals (as opposed to Groupon’s), which allows you to capture and cultivate leads yourself.
Learn How To Combine Social Selling & White Label Group Buying
If you’ve gone through this article here’s the main takeaway. To boost your sales, learn how to combine white label group buying with social selling. If social selling is the future of marketing, group buying is the future of purchases. Finally, it’s one of the cheapest investments you can start making today to boost your sales. Get started with our free Group Buying Guide.