Shophalfprice.com (SHP) allows merchants to get their offers in the hands of consumers that are searching for them via mobile applications.
To consumers, the SHP network of deal sites offers the appeal of mass deal sites Groupon, LivingSocial, Coupons.com, and Yelp. In fact, SHP includes live deals from each of those sites without requiring the user to sign-up or log in.
To merchants, the SHP network provides an interface for issuing new offers to local users and live intelligence on competitive offers nearby. Merchants are able to leverage SHP’s social network clout and significant search engine equity built up over more than a decade.
SHP primarily earns revenue in three ways:
- Annual or monthly platform access fees to merchants
- Franchisee license fees
- API license fees
Additionally, the company earns a minor commission on sales generated from other coupon networks included on the site.
PRODUCT
The original CityRewardsNework.com platform was a turnkey solution for connecting merchant offers to consumers that are looking for them. Some geographic markets are operated directly by SHP, while other markets are managed by franchisees using the same management system. The entire system is currently managing upwards of 11MM current deals.
Unlike other deal sites, SHP does not require visitors to register and submit personal details in order to view deals. Since the same deals from other networks are included on SHP, the consumer gets the additional benefit of having all special offers aggregated in one place when visiting CouponRewardsNetwork.com or any of its geographic affiliated URLs.
Merchants love SHP too. While networks like Groupon charge a prohibitively high percentage of sales they generate, SHP does not. After paying the platform fee, the merchant does not owe anything additional and retains all profit from new sales. The platform comes with a capable customer management system that can be used to gather and retain customer information for mailing list purposes, so that each new customer acquisition represents someone with whom the company may communicate again in the future. These factors make SHP more valuable at lower cost than other popular deal networks.
CLIENT BASE
Primary client targets for SHP merchant accounts include small business owners in retail and restaurants. Many entrepreneurs have expressed interest in franchising particular markets, and SHP has received more than 350 such requests in the past two months alone. Large organizations interested in SHP data represent the primary target for API licenses.
Current markets operated directly by SHP include just less than 100 advertisers.
Current API licensees include: One major Cell Phone Carrier
The technology that powers local area intelligence in the platform also identifies prospective new merchant clients. Those organizations that are currently providing offers on other networks may have value to gain by utilizing the Shophalfprice.com. SHP has had success in converting these prospects to paying customers.