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Unread 4th July 2012, 02:43 PM   #1
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Default Starting a local Coupon Book

Hi Guys.
Wanted to share with you my new venture I'm starting.

Basically it will be a local deals and coupon print magazine + website.

I will be selling spaces in the magazine for local businesses and will also offer a free inclusion in our website($39 value).
Was wondering what you would recommend about the pricing.

There will be only 1 advertiser per niche, to make it more interesting to the business owners.

I am going at around $195-295 depending on the size.

Will be printing about 2-5k copies depending on the amount of advertisers. about $500-1k cost. + around $100-$150 for design of the mag.

So once I have secured about 10 advertisers we are already in the profit.
Will distribute them door to door and in all the free magazines stands.

I will also include some good cpa offers like free pizza hut gift cards and grocery cpa offers.

Will also be using this as my entry into seo and website market. Will be offering extra services to the clients later on.

would love to get any feedback specially on the pricing of ads.
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Unread 4th July 2012, 02:45 PM   #2
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Default Re: Starting a local Coupon Book

I dont know, but skating on a mis spelling of Michael Hiles name wont get you any help in my own book.

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Unread 4th July 2012, 03:03 PM   #3
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Default Re: Starting a local Coupon Book

Actually is just my pen name I invented.
unfortunately I don't know who Michael Hiles is.
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Unread 4th July 2012, 06:01 PM   #4
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Default Re: Starting a local Coupon Book

Sounds exciting, keep us posted on how this works out. I'm not sold on print marketing making a huge resurgence any time soon.

Seems like most businesses are now shifting towards digital and mobile marketing.

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Unread 4th July 2012, 08:05 PM   #5
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Default Re: Starting a local Coupon Book

It's true that lots of businesses are going towards web and mobile.
I will use this as my entry point.

Will have a
1.online and mobile optimized business directory
2. local sms and deals list integrated with the site
for an extra $ the owners could advertise to the list with their coupons
+ could charge them for their own - mobile site, sms list campaign, social package etc.

the print mag, website and sms ads are just to set me apart from the competition to upsell later on the web redesign, mobile sites and marketing.
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Unread 4th July 2012, 08:25 PM   #6
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Default Re: Starting a local Coupon Book

Quote:
Originally Posted by TrumpiaTim View Post
Sounds exciting, keep us posted on how this works out. I'm not sold on print marketing making a huge resurgence any time soon.

Seems like most businesses are now shifting towards digital and mobile marketing.
"shifting" isnt the correct description. I'd say "adding".

...and as far as print marketing...I've sold more repeat printing at the halfway point of this year than all of last year combined.

I think the good news for all marketers is that more businesses I think are willing to prioritize marketing efforts....and put more money into it.
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Unread 4th July 2012, 08:57 PM   #7
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Default Re: Starting a local Coupon Book

I agree with Doran Peck on this one.

I see more and more small operations in the suburbs with the coupon print media popping up and they all have clients and most local small businesses are all already doing print marketing, possibly only print marketing.

So when you come to them and for almost same price you offer something extra like sms coupon list + online and mobile directory, you have a huge advantage on all the local print marketers.

Once they are locked with the print, I will make sure they understand the full potential that online and mobile marketing has and how it can expand their business and set them ahead of the competition and I will be happy to set everything for them for a nice amount of cash.
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Unread 4th July 2012, 09:37 PM   #8
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Default Re: Starting a local Coupon Book

Quote:
Originally Posted by TrumpiaTim View Post
Sounds exciting, keep us posted on how this works out. I'm not sold on print marketing making a huge resurgence any time soon.

Seems like most businesses are now shifting towards digital and mobile marketing.
Yeah, every time I go to my mailbox I'm reminded that print marketing is dead ... NOT!

Good luck and let us know how it goes.
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Unread 4th July 2012, 09:40 PM   #9
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Default Re: Starting a local Coupon Book

I believe print marketing is still a great option. A lot of businesses still prefer print advertising over online methods which means more money for you. And like you mentioned, you're using this as a way to get you foot in the door and eventually will offer the online services as well so I think it's a solid plan. Let us know how it goes.
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Unread 4th July 2012, 09:49 PM   #10
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Default Re: Starting a local Coupon Book

Thanks for encouragement.

Right now I am shopping for the designer who will make the magazine and the ads. Found some solid ones on elance. Will wait few days to get more applications.

Already found few printers that will print and send some free copies so I can choose between them, once we have a mockup completed.

This will be a 2 man operation. Me and my friend.

I will take care of the online part, sms list and the outsourcing of the design and print, my friend takes care of the distribution and together we will go out and find advertisers.
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Unread 4th July 2012, 11:59 PM   #11
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Default Re: Starting a local Coupon Book

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I dont know, but skating on a mis spelling of Michael Hiles name wont get you any help in my own book.
Just hope I never stoop to that level

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Unread 5th July 2012, 12:09 PM   #12
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Default Re: Starting a local Coupon Book

great idea!

Check out these sites for inspiration and ideas.

Local Coupons, Local Advertising and Direct Mail - Clipper Magazine

The Coupon Clippers - Saving Together

The business model is definitely lucrative.
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Unread 5th July 2012, 12:28 PM   #13
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Default Re: Starting a local Coupon Book

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Originally Posted by toto83 View Post
great idea!

Check out these sites for inspiration and ideas.

Local Coupons, Local Advertising and Direct Mail - Clipper Magazine

The Coupon Clippers - Saving Together

The business model is definitely lucrative.
thanks for the links, will browse trough them for some ideas
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Unread 29th July 2012, 03:11 AM   #14
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Default Re: Starting a local Coupon Book

Bob Ross published a WSO similar to this last year

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Unread 29th July 2012, 03:44 AM   #15
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Default Re: Starting a local Coupon Book

Quote:
Originally Posted by TrumpiaTim View Post
Seems like most businesses are now shifting towards digital and mobile marketing.
I would suggest that many are moving from Yellow Pages to digital and mobile, but the amount of printed material I get in the letterbox suggests it's not dead any time soon. And a lot of big firms that would have sophisticated market research teams using the print medium would suggest it is still useful.

To the OP, best of luck with your venture. I can see huge potential there.

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Unread 29th July 2012, 05:25 AM   #16
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Default Re: Starting a local Coupon Book

The advantage that you have over people approaching these businesses with online solutions was mentioned already in this thread - There are business owners that STILL prefer print over digital marketing.

Why? It's simple. They understand it better. They're what you call "old-fashioned" for the most part. People are less likely to pay for services of which confuse them. Business owners understand print. That's your true advantage.

It's all in the pitch. Best of luck!

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Unread 29th July 2012, 02:45 PM   #17
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Default Re: Starting a local Coupon Book

Print marketing isn't dead...

This company - Alaska Travel Deals | Alaska Vacations | TourSaver - is making a decent living with ONE coupon book that people need to PURCHASE. They pay $99(or so) for this book,... Yeah I know, pretty amazing! But they are getting great deals that is worth well over the $99!

This company is thriving... I read about them in The $100 Startup book.

Thanks for reading!

Chantal
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Unread 29th July 2012, 02:58 PM   #18
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Default Re: Starting a local Coupon Book

michaelplies,

One of your statements says:

"Will distribute them door to door and in all the free magazines stands."

I don't know where you live but in my locale all the "free" magazine stands are owned by one or more advertising companies. They pay the location to place a stand, or rack, in their entrance way or just outside the door.

Guess who pays for putting magazines and newspapers in these stands?

I don't know if you factored that into your cost but you may want to at least consider it.

Just a thought...

Tom

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Last edited by sandalwood; 29th July 2012 at 03:01 PM. Reason: word
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Unread 17th March 2013, 05:15 AM   #19
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Default Re: Starting a local Coupon Book

Would it be more profitable to allow companies to place ads for free and then charge those looking for bargains? I'm thinking if a book can save clients ,say, $500 they will pay $10 for it.

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Unread 17th March 2013, 11:32 PM   #20
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Default Re: Starting a local Coupon Book

You are very correct, Printing will never die some materials can only be distributed by that format. Believe its good to combine all Digi mobile etc with other formats although research is needed to know upfront. The thing I have seen is some biz owners will not buy the old style printed coupon books they said to hard to sell them or get stuck with to many at end of year. But when Digital GEO coupon book was mentioned they wanted to hear. With Digi offers per coupon book can be changed daily, weekly monthly with printed copy you have to go back to the press. I was in printing graphics pre-press for 22 years the mkt will always be there but must find how/who/when to apply. Digital coupons with owners committing to a year of mktg with you brings lots of traffic, offers can be changed fast and on the fly. Loved reading this thread only giving my findings per this market.
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Unread 18th March 2013, 12:16 AM   #21
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Default Re: Starting a local Coupon Book

Quote:
Originally Posted by mark T View Post
Would it be more profitable to allow companies to place ads for free and then charge those looking for bargains? I'm thinking if a book can save clients ,say, $500 they will pay $10 for it.
That's how they use to do it in my neck of the woods. I bought a few of them over the years. I probably broke even on what I paid for the books but I use to give a lot of the coupons away to friends, family and even people I'd just met.

For example a lot of the coupons would be from businesses located a long way from where I lived so if I met someone from that area, and I had the book on me, I'd give them the book to pick out the coupons from businesses nearby them. I could have sold them I suppose but the look of happiness on their faces was worth a lot more to me than the few dollars I would have gained.

Last edited by donza; 18th March 2013 at 12:17 AM. Reason: spelling
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