Groupon Essay Example | Topics and Well Written Essays - 750 words

Groupon - Essay Example But, this company proves that there is something for everyone. What Makes Groupon Unique Groupon is unique because it offers coupons that are usually good for only the day that the person purchases the coupons on. Groupon offers a signup membership and once people sign up, they receive daily deals and side deals for their signing up. Through the personal details about preferences that people give, coupons are customized to the purchaser’s characteristics. As the customers began to purchase the deals, Groupon could provide better deals based on what the customer purchased in the past. This was a very good way for customers to gain great bargains on many things that they would normally purchase. The inventors of Groupon were smart in finding the deals that were the most popular and offering them to people who really wanted these deals. Groupon was able to hire people to go to businesses and get them interested in the idea, which was also a brilliant idea. When you have people wh o are skilled at selling to businesses, it makes acquiring businesses easier. Social Media Social media played an important role in reaching customers. By putting Groupon on Twitter and Facebook, the company could expand to greater numbers. This was a good idea because these two social media giants would spread the word very quickly about the offers and bargains for people. The expansion to 70 American cities and 80 European cities was a big boon for the company because this growth showed how good the opportunity was for the company and for their customers. Working with Business Groupon was very smart in taking 50% of the revenues that came in on the deals. Since the business decided how many deals they wanted to do at a particular price, the business kept control of how quickly they wanted customers. Also, businesses did not have to spend anything until the customers actually used the coupon. This was a very good idea. Also, customers did not have to spend on a deal until it reache d the number of people that would close the full deal. This made it easier for customers to buy more deals. Marketing Marketing was very easy for Groupon because they used Twitter and Facebook and encouraged their customers to share the deal with their friends and family. When customers referred people to Groupon and their referral bought a deal, the referral source received Groupon dollars which could be used for other Groupon deals. By hiring creative writers and also copy editors Groupon was able to highlight their unique offers. Groupon had very good ideas for marketing and they were able to bring together people who believed in their concept and who were willing to keep the company moving forward. Groupon was also smart because they did not offer run-of-the-mill offers to customers. Instead, they found deals that were interesting and fun, and things that customers may not have tried in the past. This made them more popular and opened doors for the customers to try new things. L ike any good deal, other companies began to follow Groupon’s example, but because they chose specific niches, Groupon was still able to excel. Their ability to excel had to do with the people they hired to help. They still are one of the biggest companies in this industry. Opinion I believe that Groupon did not need to sell to Google. They have a large market share and they are ever expanding. The business has done very well without