VVRoom, VVRoom… okay, what we’re talkin’ about here is “Variable Value”, and how we aim to help you create more “room” to take maximum advantage of Daily Deals.
The concept is simple, and it’s part of our theme of refining this blunt instrument called Daily Deals, to make real-time social commerce a killer power tool for everyday marketing.
One Small Step for Yield Management
We’ve been developing this for some time, because we want the concept to have maximum flexibility. One simple example is to offer a single Daily Deal that provides multiple values based on the day of the week. So a business can offer a deal that is $75 for $120 but has a “bonus value” that makes it worth $150 if used on Tuesdays. The benefit is obvious, it tips the consumer behavior towards desired redemption patterns – to get the most ROI from the deal.
Cranking up the VVelocity
As we usually do, we try to map our new product concepts across two dimensions before we dive in and code! One, how would this be applied across dozens of different business types, and two, how can the real-time design of Closely’s platform add impact. As usual, we realize how restrictive and limiting it is to be stuck in “margaritaville” (our term for products designed solely around restaurant & bar use cases)!
So, in designing this, we’re making Variable Value a living, breathing concept. To an individual business, day of the week may not be the best element that defines when it gets the best return on redemption of a Daily Deal. It could be based on time of day, it could be based on number of people your bring with you, it could even be based on the weather with a “Live Bonus Alert” or a check-in frequency API trigger!
Living Breathing Coupons, Oh My!
Hopefully you get the picture. We’re building a platform that lets the Variable Value concept be implemented with variables that are adaptable – to be as unique and as live as the business wants. The small business market is made up of thousands of different types of businesses with hundreds of different demand-supply triggers. For some, a snow day means packed full price lift lines [read, turn those deals OFF!], while for others it’s the perfect time to crank up a live bonus alert to your best customers, voucher holders and passers-by, and put some life back into the cash register with free Irish coffees to go with that Voucher idling in your wallet!