With its 1.8 million members, Let’s deal is Scandinavia’s largest channel for discount offers. Through sales primarily via mobile apps, Let’s deal offers heavily discounted prices on products, services and travel.
For Let’s deal Norway, a lot has changed both in the market and the product as they have both evolved, but one thing has stayed constant, according to CEO Frank Keller in Let’s deal Norway:
“Market-wise, we are in a totally different place than we were five years ago. We counted no less than 18 different players in the daily deal market in June 2011 – some international, some large, some small – today only Let’s deal is left. It does not mean we are without competitors, but they have changed. We remain vigilant, and observe the market both nationally and globally – today’s competition comes from niche players each attacking a section of our business, instead of all of it. This is healthy. It keeps us focused.”
The importance of company culture
The company culture is often one of the things that is suffering as the company grows – the joyous days of celebrating daily successes in a small team gradually evolve into the challenges of expansion; one team turns into several departments. New employees must be introduced to the company values and history, as well as its vision and long-term strategy. Ownership doesn’t come as naturally as it did before. How did Let’s deal meet this challenge?
“First off, I’m not going to say we did it perfectly, because we have met challenges along the way, as expected. What I will say though, is that my daily experience here tells me that culture is a living, breathing thing being kept in constant revision by every employee who comes in. They have created the culture, and they are maintaining it in ways I could never think of. From a leadership perspective, we have been clear from the beginning that if you are going to work for Let’s deal, expect to work hard. Give your best. Walk the extra mile. But we’re gonna have fun while we’re doing it. And we still are having lots of fun.”
Let’s deal has helped more than 2,700 businesses connect with 260,000 customers, saving their members nearly NOK 700 million. From 2011 to 2015 the company experienced an increase in yearly revenue of more than 4600 percent.
Having overcome many of the challenges of new companies, Let’s deal is gradually changing its priorities. Proof-of-concept, rapid growth and strict focus on getting a return on every investment is giving way to long-term strategies, product innovation and brand positioning.
“We have aggressive goals. There is no doubt that Let’s deal of 2018 will be different from the Let’s deal of 2016; just like our history has shown so far. We’re just getting started,” Keller says.