“Save $51.75 for a 12-Month National Geographic Magazine Subscription. Eighty per cent off teeth whitening treatment. Sixty-three per cent off a getaway to the Surfers Paradise Hilton.”
Groupon is an effective marketing platform that targets small business with difficulty in accessing larger subscribers’ networks. The application gives businesses an opportunity to access and capitalize a larger market base of potential buyers. The application is a platform for reeling in customers. Once the customers are in, it is the role of a business owner to maintain customers. This is by availing quality products and services that would captivate the customers to return. Many businesses that have subscribed in this network have witnessed an upsurge growth in their customer base and thus increased growth in profits.
The Dot Com Success Story
Groupon is a term derived from group and coupon words. Its main purpose is to offer online potential customers with great products and services discounts. It encourages customers to buy the product within a specified time in order to qualify for the discounts. However, the call is an attention-grabber to encourage customers to buy. This is because, in order to qualify for discounts, a certain number of individuals must sign up for the product or the service on the same day. They began in Chicago, offering discounts for a pizza shop in their own building to a worldwide known business worth about $11bn.
Engage the Buyers
The Groupon platform also gives customers a chance to work and earn money as freelancers. The customers earn by promoting the company services. Furthermore, it is a good platform for individuals interested in online marketing. The platform success has been enormous in the US, UK and Germany but in the recent times, its popularity is growing all over the world. Some of the latest entries to this platform include Australia and New Zealand. In fact, you can actually find intriguing deals from cities such as Melbourne, Sydney and Brisbane. Furthermore, other Australian cities such as Toowoomba, Geelong, and Perth are slowly gaining popularity. When it comes to daily deals in New Zealand, Groupon discounts are already available in cities such as Auckland, Christchurch and Wellington.
The Benefits of Groupon Platform to Locals
The major benefit that small business will gain by being listed on Groupon is reduced sales risk. In order for a deal to become available, a certain number of customers need to register for the offer. If the minimum number of required sign ups is not met, the offer will not be completed for that day. The other benefit of registering your business with Groupon platform is a large market base. In addition to local markets, the products would also be available to national market and thus, increased sales. Since the inception of this platform, many businesses and individuals have benefited greatly.
It is therefore common to find remarks from businesses attributing their success to coupon sites csuch as selling hundreds of products within a few hours in the platform. While the success of this platform is general to all products, majority of businesses that deal in repetitive services and products have benefited a lot. It is also a winning situation for customers who find products and recommend their friends to buy them. By recommending the customers, they are accredited for their role in facilitating the sale.