Groupon has launched a new tool allowing merchants to track and analyze the performance of their daily deals, adding to their previous suite of merchant features. The new tool is called the Merchant Impact Report, and it allows you to see who’s buying your daily deal, what they think about your products or services, and calculates profitability.
Let’s take a closer look at the new Groupon analytic features.
You can see the number of emails that have been sent out to Groupon subscribers advertising your deal right next to the number of people who have purchased the deal. See how many of those potential eyeballs have converted to real sales. You can also see your customers broken down by gender, age, and location on a map.
A pie chart shows you the percentage of deal-buyers new to your business along with customers that have been enticed back to your business as a result of the daily deal. There’s customer feedback, plus the percentage of customers who would recommend your business to their friends, based on survey results, and an estimate on the percentage of customers expected to return to your business within three months.
After plugging in what it costs you to serve one Groupon customer, the profit calculator extrapolates that to estimate the cost-effectiveness of your promotion. See how much money you should expect to make.
If your business participates in daily deals, this tool provides invaluable information on your customer base. Up until now, this data has only been available to the larger companies.
“The Merchant Impact Report was created as a result of our merchants’ feedback and is designed to provide a clear, concise view into the effectiveness of their Groupon promotions,” said Amit Koren, Director of Merchant Products, Groupon. “Until today only the largest companies had access to this kind of information, and now we’re providing these powerful analytics to every local business that works with Groupon.”
All of these features can be tested in a demo Groupon has provided.
If your business has worked with Groupon, or another daily deal website, let us know about your experience in the comments, and give us your thoughts on this new tool!