*If you operate a food business, retail shop, provide a consumer oriented service or host events, check out Groupon. It amazes me that the simplest ideas are most often the most successful. You know, the ones that when you see it, you slap your head and wonder 'Why didn't I think about this?".
What is it? A sure fire way to gain new customers without any upfront cost.
No, I haven't had anything to drink today. Read on:
Here's how it works: A business contacts Groupon and posts a one day special: personal massage for $20 instead of the retail $40; concert tickets at $15 off the ticket price; 2 for 1 dinners at a local restaurant, etc. Everyday, Groupon posts one special in one of their affiliate cities with one caveat: the business pre-determines how many people need to sign up before the special is 'On' ( if you signed up and the special is off your money is automatically refunded.). Groupon assists you with the copy and heavily promotes your deal. It must be working since Groupon claims to have sole over 3.8Million coupons.
Recent deals in Miami:
- $20 for a one year membership to the Miami Art Museum. Retail price is $45
- $14 for $30 worth of groceries at South Florida Kosher Market.
- $29 for a skin peel from the Skin Institute: Retail Price: $61
Why would a business join in?
- The Miami Art Institute had 129 people buy tickets
- South Florida Kosher had 481 people buy coupons
- and the Skin Institute had 677 people come to their spas
And there is no upfront cost- Groupon takes a percentage of each coupon sold.
This is smart, cost efficient marketing.