I work a 9-5 job. But I am also trying to start a coupon marketing business in Tampa Bay. I got the idea from a company in my hometown of Indianapolis. It is a successful company and based on a simple system, so I thought I could piggy back from their process and create something new in Tampa. It looks easy on paper. I have most of the prestart work done, and now I am just trying to find my way through the muck of marketing.
This business model is unique because there are two different customers. One’s that pay the site and one’s that take from the site. The paying customers are business owners that are interested in adding their coupons to our site and gaining new customers. The others are the coupon users. What makes it difficult is that there are very few business willing to pay for a listing because there are so few other coupons on the site and because of that, there are few customers to use the coupons.
I am slowly learning that in order to start gaining businesses I need to give away my service for free or discount it to a minimal amount. This seems counter productive. So last week I spent a few dollars on a unique tool to focus Facebook ads to a target specific group of people. Using Facebook’s Graph Search it was pretty easy to find the target group and spend on only that group. I had 2 ads running at the same time. One was an ad to get people to like my Facebook Fanpage and the other was a promoted post listing for a recent post I had added to the Fanpage. Well, they both performed at almost the same level and cost almost the same, but it seems to me that this is not the direction for me for now.
So what I think I know is that while others may love Facebook Ads, it seems to me that it is another expensive means of getting low results. I feel like I could have spent $13 on a sign and placed in at a busy street corner and gotten more results. So that is my next venture.