Get Your Groupon
A new take on traditional marketing is creating a buzz and reaching a target group that is hard to reach by conventional methods. Hip and active young female urbanites that have money to spend respond to social media such as blogs, Facebook and Twitter. Now a new company that began operations in November 2008 is driving customers to your business. Groupon is an e-tailer with an engaging value proposition, collective buying power. Consumers group together to get steep discounts from local merchants. If enough people sign up, the discount is activated. Then a sense of urgency is created because a limited time is placed on the discounted offer.
As a business you can set a sales limit, as well as, a minimum number of customers so that you can successfully implement the offer to achieve the end result a win / win for both sides. This unique and new marketing technique gives individuals buying power with small business just as it brings new customers in your door.
This is no different than a lost leader advertized in a newspaper or on the television. The only difference is that it is communicated through social media and email.
Groupon has the ability to send individualized deals to users based on criteria like their gender, buying history and their interests. Approximately 1.5 million consumers have signed on to use this service. According to Business Week, "In October, Balani Custom Clothiers, a small Chicago outlet, offered a $225 gift certificate for $95 on Groupon. The site sold 850 of them that day, a number equal to the customers Balani would attract in a year and a half, says shop owner Sonny Balani. "We're slammed now," he says. "That is to say, happily busy."
A few other e-tailers are also on the scene, LivingSocial and BuyWithMe, but Groupon is the most popular service right now. Originally Groupon offered deals to businesses in major metropolitan areas, but now that Groupon can identify users who live in suburban neighborhoods by their zip codes they can now offer deals locally.
A consumer who is interested in cost savings and values bargain hunting can relate to discounts via e-mail. Consider feeding your business with discount offers as you drive customers to your store. When enough people sign up the Groupon is on.
These are my outside views...let me know if you have either used a Groupon discount or offered one and what you thought of the experience?...Marcia Blake
If you would like more ideas on new ways to market your business contact me at firstname.lastname@example.org