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Tuesday, June 21, 2011

How to earn money with Group Buying wave hit Malaysia?

I guess everyone knows of group buying as the wave has hit Malaysia since the end of 2010. The most significant move is the acquisition of Groupon of groupsmore to become Groupon Malaysia. Before that, Mydeal has established in the market and afterwards, Nuffnang’s own Milkadeal and Dealmates that associates with MSN and Lowyat Net. These are the first movers group. The late comers are jackcow, Everyday, Gropego, Superdeals and etc. There are too many small players that come and gone.
You can see from Jobstreet’s job enlistment, there are various job for business development for group buying such as Mydeal and Groupego recently. I expect their business to be expanding.
However, this all is not relevant to this topic as I will share how to ride the group buying wave and earn yourself some pocket money.
I bet you all notice that get a friend or refer a friend, you will be paid RM 10 or RM 5 depends on which website. Please notice it is only when your friend sign up and purchase for the first time. If your friend buys 3 times from the link you given, you are paid RM 10. Even they bought 100 times, you will only receive RM 10. Another drawback is you can only use the RM 10 when you make a purchase and it is not by cash.
Groupon, Milkadeal, Everyday, Dealmates and etc all adopting the same strategy. I would said, it is not worth any effort to refer your friend if your purpose is to make an passive income though this group buying wave.
Mydeal is the choice as you want to make cash through reference to your network. What you do is just join the affiliate program. Why Mydeal affiliate?
1.Paid by real cash once you hit the threshold(SGD 100).
2.10% of commission which is the highest of all group buying
3.Strong background support and the parents company is a venture firm in US and is established in Singapore before they landed in Malaysia
4.The first group buying site that landed East Malaysia with Penang, Johor Bharu and certainly Klang Valley. They will expand to Ipoh and other location soon.
5.Only good deals and merchants listed. Only good deals will attract lots of people buying and only Groupon and Mydeal able to do it till now. It will easier for the affiliates to sell.
6.MLM style where your friend under you tree sell, you can get commission. I think this is really a good way and you can expand as a first mover among your friend. Please note that there is no harm you are under whom or whom, it is just the same.
I certainly see the trend will continue and the biggest competitor is Groupon Malaysia in long term. Groupon does not pay real cash to reference and it is only RM 2. I predicted Mydeal and Groupon as the big players in the group buying will other smaller players. More late comers will just out of the business soon.
How to make more money through Mydeal affiliate?
1.Social network Facebook and Twitter. Just share your affiliate link in your social network, when your friends click the link, as long as in their browser cookies, all the deals will be counted in your account
2.Forum. Share your link in forum as more people will visit your link.
3.Blog. Lesser people visited blog nowadays but yet it is a important way. 15% of my sales come from my blogs. Of course, you can put the link in people blogs too but I do not like this idea.
4.Sign up new sub-affiliates under you. Use the power of leverage.
Most of my deals are from the friends of my network. It is almost 50%. Blogs is 15%, forum about 25% while new sub-affiliates under me contribute less than 10%. I predicted the network under me will contribute more in the future if they can see the opportunities.  I get SGD 100 within two months and that was when a time I just post only two or three times in my Facebook. The sales up 50% when I combine all the ways of promotion I discuss above.
To join Mydeal affiliate program, click here.
I think this is simple enough to get a passive income. Why? The deals are attractive enough so that people are willing to pay for the service at a huge discount normally at 50% to 90%. The merchants can do their promotions which create a win win situation.  You can just paste the affiliate links on Facebook or Twitter, if your friends see it is attractive deals, they will buy it. There is still a huge market untapped as half of the people still unaware of Groupon and Mydeal and most of them has a good purchasing power working class mostly in the thirties. Even the untapped market for the twenties still huge.
I have use Adsense as well as Nuffnang. Mydeals affiliate revenue is 3 times of Adsense and 6 times of Nuffnang. You must consider that my blog is rather lack of visitors. If you have a successful blog, you can imagine how well you will earn. Furthermore, you can even post your link in your favorite forum site.
If you interested of Mydeal affiliate, click here for more details.

1 comment:

Anonymous said...

never buy from mydeal as the deal doesnt exist.
it is like a scammer deal which customer paid on the spot but cant even use it .
require customer to call in the business but the problem are the outlet never open/operate business at all!!!

mydeal agree to make refund,but after 6weeks never see the refund until today !!

so do u think this is a good customer service to customer