Flash forward to this weekend: you and your boyfriend have nothing to do and all of your friends are headed out of town. However… no need to fear, Groupon is here! With an assortment of discounted restaurants and activities, this unique marketing tool has allowed local businesses to prosper and residents to enjoy new experiences at a reduced rate.
Considered the fastest growing company —ever— by Forbes Magazine, this website has saved consumers more than $1.5 billion in the last year. This unique twist to the traditional coupon clipping not only works to the advantage of the subscribers but to the companies as well. Groupon has worked with 58,000 local businesses and served more than 100,000 deals worldwide since it began in 2008.
These discounts encourage consumers to try something new and drive business to where the featured deals are located. Who can resist 51 percent off horseback riding lessons or 68 percent off the new restaurant in town? These discounted rates give inquisitive customers the opportunity to try something new without falling victim to a hefty price tag. If the customer leaves satisfied, she is very likely to become a repeat visitor, not to mention a glowing online reviewer for the world to see.
“Groupon offers a win-win situation to consumers and businesses,” Groupon founder Andrew Mason said. “New Yorkers save money without sacrificing fun, and participating businesses experience an explosion of sales thanks to the promotional help, guaranteed business and exposure that we provide.”
The influx of customers from Groupon and similar sites also help increase companies’ search engine optimization (SEO) through the interaction of social media and social networks. This increase is important because it makes websites more visible in search engines, thus increasing site traffic and potential business.
Customers who “check in” using social media networks, such as Foursquare, increase the social content of the company, allowing it to receive more exposure and improve its brand visibility.
According to a Mashable article, “The nature of the social web encourages participation: sharing, voting, commenting and linking. Popular social content gets exposure, traffic and can result in a substantial number of relevant inbound links.” The more a company links to its website, the greater its SEO results will be.
Through purchases on Groupon, consumers have the ability to increase local business’ SEO and ultimately help them remain (or in this economy – become) prosperous. So take that adventure or try that new restaurant to break the boredom without breaking the bank.