The next Group On? Setting up a group-buying voucher website

Businesses For Sale: Did you set up the Pennypincherz website yourself?

George Ioannou: Yes. We developed a team of about six individuals, from a programmer to a graphic designer, with a web designer, long term strategist and affiliate marketers.  We're offering a great service to businesses and who doesn't like free advertising when everything's said and done? 

BFS: How did you finance your venture?

GI: My partner and I invested are own funds to put Pennypincherz together. We are profitable, there are no loans and we are debt-free.

BFS: Is your business similar to companies like Groupon?

GI: Groupon is above and beyond the best, and I don't think they'll ever be another deal site that will be able to compete with Groupon. 

In this business you are only as good as your database

The deal companies that have a strong database and continue to grow and invest in their database are the companies that will continue to grow and turn their sites into million-dollar businesses.

BFS: How important is it to utilise Search Engine Optimisation (SEO) when running an internet  business?

GI: SEO is definitely key from an organic perspective. When users are doing a search for things on Google and so forth, I definitely think that it is important; although I don't think it is the deciding factor in determining whether a deal-of-the-day type company will be successful.

BFS: How did you get your online advertising right?

GI: We have affiliate marketers that are in our team. Their job is to take our site and pretty much blast it all over the interent in high traffic areas to develop our subscriber base online. We've also done some ipad and visa giveaways where we used individuals on the street....

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