Tuesday, February 1, 2011

The Black Biz Hookup: Discounted Group Buying From Black-Owned Retailers

Following in the footsteps of Groupon and LivingSocial, a new group buying web site called the Black Biz Hookup has launched with merchant offerings of "Daily Deals" from local Black-owned businesses in major cities.

Instead of using call centers to get a backlog, the company has used a grassroots approach to signing up merchants similar to what Plum District implemented working the "Soccer Mom" referral circuit. They have a group of affiliates around the country acting as advocates for the website and signing up the business owners who grasp the concept.

The concept is to offer a mega-discount (50% off or more) for your services or products during a brief 24-hour period. During this period, the business may lose revenue - but they are sure to gain customers wanting to take advantage of the discount. Profitability can be reached by convincing these customers to buy again in the future at normal prices.

In my opinion, Black Biz Hookup has the potential to be very successful if Black entrepreneurs quickly adopted this innovative marketing strategy that has been proven to work. In fact, it works so well that Groupon and LivingSocial are each making about a million dollars a day in transactions.

I think the site is a great idea because it can help struggling Black businesses stay afloat in a time where the U.S. Census Bureau reports that African Americans are five times more likely to fail in business. In addition, it promotes spending within the Black community - something that most Black consumers don't do, which is one reason why there is a lack of economic development in urban areas.

For more details, visit www.blackbizhookup.com

Want more tips, strategies and resources? Purchase Dante Lee's new book "Black Business Secrets" at www.BlackBusinessSecrets.com

5 comments:

  1. This is good news. I was just in a conversation with someone, (using your new book as a reference). I explained to him how the black community still doesn't get it. I explained that many of us only want to watch the show but we don't want to be the show. We have so much to offer yet we sit on the sidelines. I am so glad that people are stepping up and taking charge. Thanks for posting Dante.

    ReplyDelete
  2. Praises to "BLACK BIZ HOOKUP", much success.

    ReplyDelete
  3. Thank you, thank you, thank you for the info Dante! I've been praying for a company like this!

    ReplyDelete
  4. Always the greatest info from you, Dante! How informative.....:) You're always on my Thought Leader List...:). Will definitely quote you for some of my upcoming articles on my blog & video.

    Keep all this great info coming! Thanks so much!

    Debra
    Debra Dixon
    Light of Gold PR, Marketing & Consulting LLC

    ReplyDelete