Collective buying is one of the hottest new trends to hit social media since social networking! It is by far the fastest growing phenomena and will continue at even faster growth rates in 2013 – 2014. A lot of new ventures are being set up within this new space, whilst also a lot of businesses are taking advantage of implementing collective buying or daily deal business models as promotional add-ons.
What about Daily Deal / Collective Buying Software?
But, one question remains, how do you get started and what software or technology do you need to get up and running in the shortest possible timeframe? The fact is that there are numerous collective buying software / daily deal software providers out there, ranging from cheap offshore companies to respectable ventures building scalable and dynamic platforms. So, how to choose one?
Below is a list of 3 of the most popular providers of collective buying software / daily deal software which has been rated from a list of about 15 different providers. They have been rated based on overall software performance, how long they have been in business, customer support and overall functionality.
Coupsta seems to be the most popular system and was one of the first to start selling group buying software. The system gives you the ability to manage deals, side deals, user management, advertisements, cities, automated client / merchant portal and a whole bunch of other features similar to the major players in the group buying market.
The one thing I like about Coupsta is that you buy the software and you own it, unlike other companies which charge commission or provide closed source code, which means you cant sell your business if you become successful.
The system provides a clean and efficient software without clusters of features whilst offering a fairly diverse list of functionality that can be extended beyond the standard features. They also offer a number of plugins including mobile applications and a facebook app that integrates directly with the main system, pretty nifty and definitely handy in a time where social media is paramount.
They are very similar to the other providers and are targeted at companies who are looking to start a deals site and pay for Software as a Service (Saas) however you don’t actually buy the software outright and your data is not controlled by you. They also provide services to publishers and media outlets who need more than just a website rather requiring a whole heap of other services. The system has various features including managing deals, user management and has most of the necessities to get started with a daily deal software package.
If you need other additional services, they have a range of different services that align with the daily deal software they have on offer.They have quite a diverse list of additional services that are great if you need an outsourced partner that can collaborate on certain work.
You have to pay a upfront fee in addition to an ongoing fee, and you don’t actually get to own the software or access the sourcecode.
They provide similar features as other collective buying / daily deal software providers. The software they offer is basically a daily deals site wrapped into one and which has various options.
They offer quite a range of other solutions such as managed sites aswell and offer a range of features from adding deals, managing subscribers, selecting side deals to promote and work on a partnership based model.
Again they have all the required features and charge a monthly service /transaction fee
How to make the Decision?
1. Do I own the software: Some companies do not actually offer ownership rights or source code for the software, hence if you want to change or modify aspects of the software you have to always go to them, if you grow you probably want to hire a developer full or part time.
Also, if you grow you may decide to sell your business and the software should be classified as an asset and not an expense.
2. Commission vs One Time based pricing: Commission pricing or fixed pricing will depend on your requirements for you daily deal software, so you need to weigh the pro’s and con’s of each pricing structure
3. Do they offer customization?: I find this pretty important as you never know where you take your business now or in the future, you would want some customization support that allows you to potentially tailor the daily deal software to changing market conditions.
4. Do you they offer ongoing releases that you can purchase. Sometimes going for the cheapest solution may not always be the best solution, cheap $100 – $300 “scripts” usually means under developed or lack of ongoing service, the old saying you pay for what you get is always a great indicator when making a final decision.