Some of you know that one of my favorite pastimes is dining out. It’s obvious when you see the anti-Situation abs that I sport nowadays. [I’ve been doing a lot of GTL lately though minus the T so I’m expecting to get my washboard abs back.] Sorry, I digress.
In any case, one company that seems to be thriving in this awful economy is Groupon. I don’t have hard facts. My opinion is simply based on word of mouth, social media buzz and earned media coverage that I’ve seen for the company in the past couple of years. Most recent was Groupon’s first national launch with Gap where it likely garnered more in free publicity than the amount of Gap Groupons it sold. The company has transformed the way the average consumer saves by featuring mainly half price deals that change daily. The concept is attractive because it builds anticipation from its users on a daily basis, which I believe is a key factor, in developing any successful social media program. It has also changed the average consumer’s purchasing behavior, but it’s also fueled other companies to follow its business model such as Living Social, Half Off Deals, and many others.Read the rest of this entry