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Thursday, July 21, 2011

LivingSocial Sales Up Close: Deals Sites Are Bubbles In For A Major Correction!!

LivingSocial Sales Up Close: Deals Sites Are Bubbles In For A Major Correction!!

"Are you going out and talking to merchants and are they over it?

The not so nice people say "you're the 12th F-in guy that's called me today!" and I'm always the 12th guy that's called that day.

When you started hearing things like that, you start thinking "Wow, this is going to correct soon and this cannot last."

So what do you, as a guy that has to find these deals, how do you do it? Do you make twice or ten times as many calls? How do you end up getting your quota?

Actually no. I'm a firm believer in that book "Cold Calling Is A Waste Of Time," which states that a smart contact is how you make the most money, not the most contacts. Fortunately, I've established so many contacts from the business that I did last year that it's easy for me to call them and say "Hey, it's me," and because I did right by them, I can get in the door easily and they'll hear what I have to say. 

You could say "let's do it again."

Yeah, but you can't do that anymore because doing it again means doing the exact same thing that they did the last time, and a lot of these guys are savvy to how you need to control the way you structure a deal in order for it to really make sense for you to get the exposure and for you to not lose your shirt on the revenue side.
What I'm finding is that people want a million and one restrictions. They just won't run a deal. In order to get the business, you have to confine the deal to certain parameters, like instead of "$20 for $40 of food," you say "tasting menu of wings and a beer" so that it's only limited to that product. That's how you're able to work with merchants now."

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