Daily Deal Sites are hot and offer a significant affiliate marketing opportunity. Everybody from large sites such as Groupon to smaller local sites are growing. The idea behind Daily Deal sites is a fairly simple process at the surface, but like any business, the sites take a considerable amount of management and work.

The panel consists of Carolyn Tang Kmet (Groupon), Peter Hamilton (HasOffers) and Carrie Rocha (Pocket Your Dollars). Carrie blogs, Carolyn's title is Affiliate Manager and Peter is Chief Marketing Officer.

Daily Deal sites need consistently fresh content for success. The best converting offers are time limited. If the offer is ongoing, the conversion rate will be lower.

The best Daily Deal sites spell out the offer using the feature, function and benefit of the product being offered.

Daily Deals are available for a range of products from sewing classes to helicopter rides. Carolyn notes that through the Daily Deal, she has become a great repeat business customer from the sewing shop.

Merchants are able to offer a base Daily Deal and then upgrade when the customer redeems their deal.Businesses need to understand how to convert their traffic into up-sells according to Carolyn. Peter agreed, saying he upgraded his helicopter ride when he called to redeem the offer. The panel pointed out merchants need to track their offers over a long-term.

Affiliate Marketers must promote programs from reputable merchants. Businesses have gone out of business after offering a poorly managed daily deal. These businesses don't plan for the massive amount of traffic, aren't ready for an up-sell or worse, aren't ready to deliver the product or service.

Working with reputable companies who have offers will help you avoid working with merchants that aren't going to deliver.