Create your own 'groupon' using facebook

Came across another video from Bigcommerce that's got useful information on creating 'groupons' yourself and their benefits.  There is a mention of using their proprietary coupons on their ecommerce platform, but the advice and guidance is very useful.

Thanks again BigCommerce, looking forward to having you guys open in Australia.

Brilliant Video Marketing - Indochino

This video covers the entire supply chain process of ordering a custom made suit - with quality and flair . To me, this video epitomizes the essence of e-commerce - unbounded and simple.  A must watch ....

And guess how I came across this?  Through lifesta, resellers of unused groupons!...lol...

Loving these markets created by Groupon (and clones)!

Group Buyer Flux - Groupon good or bad?

Great news item from Associated Press on the sudden inflow, more like deluge, of customers via Groupon

In the wake of Group Buyers - what's next (revised)

I came across this video on youtube and it's freaky how i've been thinking about this all along - how to WOW your customers after they get in through the door.  This is exactly how businesses should treat ALL group buyers.

Thanks to BigCommerce.com for this fantastic video .... please keep them coming...

Another Group Buying Aggregator and more groupon clones in Australia.

This is a pretty interesting development, over 16 groupon clones targeting Sydney and Melbourne alone.  I haven't looked closely, but first glance seems to confirm almost identical business models.  One exciting trend, or a precursor to a possible trend is niche-based group buying site, 'www.birdieoftheday.com.au' which targets golfers. Good to see a second aggregator.  I would like to see different sorts of products being sold though, apart from the spas, restaurant vouchers and boot camp sessions.

Aggregators:
www.dealsguide.com.au
http://www.allthedeals.com.au/

Groupon Clones:
www.spreets.com.au
www.ouffer.com.au
www.zizzle.com.au
www.zoupon.com.au
www.jumponit.com.au
www.yellowpagesoffers.com.au (WTF...! even ypages?...say it aint so!!!)
www.scoopon.com.au
www.dealsinthecity.com.au
www.crowdmass.com.au
www.dealme.com.au
www.birdieoftheday.com.au (niche industry - golfing goods and services)
www.livingsocial.com.au
www.vowcha.com.au
www.ourdeals.com.au
www.grabone.com.au
www.cudo.com.au
www.goodnews.com/ - Worldwide - part of every coupon goes to charity.

I'm sure I've missed a few, but the growth is phenomenal.  I hope to see more diversity in products and possibly even the business model.

Let's see how this unfolds....

Group Buying goes on Australian Primetime TV

Just saw a TV ad on group buying offers by CUDO on channel GO! ... similar to the one aired on channel Nine (see below).  Looks like big bucks being spent on some clients.

With almost 12 entrants in the market, one can only imagine how (if even possible) some of the Aussie Groupon-clones can survive without the backing from big names like ninemsn.

But then again I've known of advertisers spending 100k+ on one digital channel, that in turn spent 150+ to give them ROI, which hadn't worked, sadly.

So is the key to success in (1) Big Budget Ad spend, (2) Clever Social Media, (3) EDMs or a combination of all these?  Whatever it is, I'm eagerly observing....(still haven't got my first voucher, though)

Group Buying - Silver Bullet Marketing for New Business Owners?

In the beginning, I was getting quite annoyed with daily emails on so-called discount coupons flooding my inbox. But then my colleagues and friends started ranting and raving on the discounts, and then news hit of Groupon turning down Google takeover and currently being valued at US$7.8 billion.

Some of the visible players in the Australian market are Spreets, Scoopons, Living Social, Cudo and GrabOne

So I decided to take a quick look, and I must admit the revenue model is quite robust - in a nutshell, you only pay marketers when you get conversions.  But eBay and Amazon also run under the same premise right? Yes and no.  With the 'group buying' revenue model, what stands out is the simplicity by which bricks n mortar businesses can acquire buyers at virtually no risk, i.e. you only pay if the 'deal is on' or minimum number of buyers transact.

The only risk to the advertiser, in my opinion, is the perceived value of a highly discounted product - "People will think my product / service is actually worth a lot less than it's discounted to because it's highly discounted!"(weird logic) or "Perceived value of my product against my competitors may hit an all time low" or "People may thing we are desperate".

But with the omnipresent GFC and rising costs of living , this is a quick and easy way for any businesses to:

1. Not only get customers through your door, but make them spend.
2. Target local audience, and make them spend.
3. No initial outlay, only pay if you make money.

Particularly for new businesses, hungry to get the initial clients through the door, I cannot think of any other low risk, high volume advertising solution - just make sure these buyers are treated with utmost care and attention.  Contrary to popular believe (and practice), I strongly feel customers that buy using discount vouchers can become the most loyal ones provided they are treated with exceptional service.  Just think about it - not only are you buying a luxury item for peanuts, but exceptional service is thrown in too  -  think 'network effect'!


Only for Lifestyle Products and Services?


So far I've only seen discounts on offer for hotels, restaurants, beauty treatments, winery tours and the like - businesses that cater to the lifestyle needs and wants.  Also, group discounts seem to circumnavigate around luxury items, which in my opinion works well with the aspirational target audience.  I would, however, like to see other industry applications of this revenue model, say, Trades, Building & Construction, Automobile, etc.  The question remains, though, for the marketers, how best to target audience during their research phase of their buying decision making process and whether medium to large corporations will be more prone to perceived value issues of their products being discounted.

Personally, I believe it should be used as an advertising module and not an end all to be all.  For example, a large tool company may use group buying provider as soon as they introduce a new product into the market.  Customers of this product should be treated as kings and queens, which would start a solid network effect and referrals would flow from this base.

All said and done...


I still have not made a purchase, sadly, but will probably get my first online group discount voucher today!  Will let you know how it goes....