Our foremost mission is to support businesses by allowing them to post and manage their deals for free.
San Francisco, CA (PRWEB) March 16, 2011
Xferral, a personalized daily deals aggregator, has launched today a creative program that lets users buy coupons with virtual money and permits merchants to post and manage their deals without fees or commission.
Like a game of Monopoly in which players are given $200 at the start, Xferral keeps users interested by distributing free virtual money to try out deals. Normally, deal sites such as Groupon would charge customers for pre-paid coupons. However, the implementation of virtual money allows users to freely shop for coupons without real financial commitment.
CEO Jay Oh explains the rewards of utilizing virtual money, “When users log onto Xferral, they are automatically given $30 in free virtual money to purchase deals that are marked as Mobile Coupon. Users are awarded $10 in virtual money for every friend that they invite joins Xferral. With deals being exposed to more and more users, businesses will enjoy optimum marketing benefits and a wide influx of new customers when they post Mobile Coupons.”
In addition to the hot new concept of virtual money for daily deals, Xferral also provides Do-It-Yourself opportunity for businesses to manage their own deals for set up and distribution commission free. With this new opportunity, businesses can determine the number of coupons to be issued, set the expiration dates, post their deals as frequently as they want, and promote more than one deal simultaneously. As merchants have more control of their own marketing, Xferral's DIY Deals program makes it possible for businesses to be less dependent on deal sites like Groupon that charge excessive commission.
In terms of commission, Groupon takes as much as half the value of a coupon from the merchants. With our economy in a downturn, a business may face a smaller percentage of return customers who used a coupon deal to come back as a full paying customer. Thus, merchants take a full risk in attempt to expand their profits if they pay exorbitant commission to post a deal. "Our foremost mission is to support businesses by allowing them to post and manage their deals for free,” said Tina Lee, Co-founder and VP of Business Development. With free DIY Deals and virtual money, Xferral exposes a newfound frontier for daily deals.
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