Learn How Groupon Works! from The Point on Vimeo.
I was shooting the sh!! networking with coworkers a couple of weeks ago when one of them (let’s call him Joe since that’s his name) told me how he’s found great deals on Groupon. Maybe you already knew about it but it was news to me so I checked it out.
What is Groupon
Groupon started about a year ago as a way to take advantage the power of group buying. As the video above explains each weekday a different single coupon deal is offered. The catch is that a threshold of required sales must be met for the deal to be sealed. Businesses win by getting new customers and lots of exposure without upfront advertising expense.
What kind of deals
Groupon is currently offered in 45 U.S. cities but don’t despair if it’s not in your city; the list continues to grow. The daily offering ranges from activities (whale watching anyone?) to restaurants. Other recent offerings include museums, massages, singing telegrams and cleaning services. The savings appear to be at least 50% off the standard price.
Your credit/debit card isn’t charged unless the minimum required is met and then you’ll recieve your coupon/ticket in your email the next day.
Since I signed up there haven’t been any offers that moved me to buy although I do see past deals I would have jumped on. My coworker said he got a great deal on oil changes among others. It seems like such a cool idea I wanted to share it withyou now versus waiting until I had a firsthand experience.
Have you used Groupon? Did you like it? If you are not already signed up please click here to be referred by me.
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