From there I learned that the process is quite simple. First, you find local deals by signing up and entering your zip code. The daily deals can be sent to you via e-mail, facebook, or twitter. Next, you can purchase the groupon and share it with friends through social networks. Each groupon must reach a minimum number of purchases from customers to ensure a return for the business. Once that number is reached the groupon is activated. You are not charged until the Groupon is activated.Your last step is to enjoy the groupon by either printing it off or using your mobile device.
In other words, this is a succesful marketing tool for local businesses in a variety of ways.
1. More business is gained through shear purchases of the Groupon.
2. The incentive to reach the minimum further advances marketing through sharing the Groupon within social networks.
3. Groupons can be bought for friends which expands the target market. (For instance, I could buy a dinner Groupon for a friend in Chicago.)
This is an example of a dinner Groupon currently available for nearby Hendersonville, TN:
What do you think of Groupon? Will this be the new way to save? If so, would you as a business owner seize the opportunity to offer discounts?
I'd heard a little about Groupon, but like you I didn't really investigate it and I don't have a smart phone, so I'm glad I read this post. I think it's a pretty innovative ideal and an extremely smart marketing tool. People are always looking for a way to save, plus social media is a huge trend now, so companies are banking off of both of those concepts. If I owned a business I would definitely look into experimenting with Groupon since it also seems like a great way to attract new customers.
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