Groupon Features Help Merchants Measure Deal Success
Groupon has launched a set of free online analytics that help merchants gauge the effectiveness of their deals on the digital platform. The new features, announced Wednesday, come as the company has been facing criticism about the potency of digital coupons.
The new functionality will be part of Groupon's "Merchant Impact Report" and available to U.S. and Canadian merchants with a Groupon Merchant Center account. The report was launched after a successful trial with more than 1,000 merchants, the company said in a statement. The data previously was only available to larger companies but has now been expanded to include smaller businesses.
Highlights of the "Merchant Impact Report" include:
A profit calculator — The feature helps a merchant estimate the cost-effectiveness of each promotion, which includes payments from Groupon, revenue generated by returning customers and the merchant costs.
Marketing analytics — This reveals the total number of Groupon subscribers who received a merchant's deal via Groupon as well as data on which subscribers are taking the offer, broken down by geography, gender and age
Customer Insights — This shows the percentage of customers new to the business or reactivated as a result of Groupon offers.
"The Merchant Impact Report was created as a result of our merchants' feedback and is designed to provide a clear, concise view into the effectiveness of their Groupon promotions," Amit Koren, director of Groupon's Merchant Products, said in a statement. "Until today only the largest companies had access to this kind of information, and now we're providing these powerful analytics to every local business that works with Groupon," he said.
Groupon overall has been struggling to revive its growth strategy. The stock is under $5 a share, down roughly 85 percent since it went public in November 2011. Groupon CEO and founder Andrew Mason last year said he's staying at the helm of the daily deal site, CNBC has reported.
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— Written by CNBC's Heesun Wee. Follow her on Twitter @heesunwee