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27 June  2010 ~

The explosive growth, rapid revenue generation and HUGE business valuations have definitely attracted a lot of attention to some relatively new group buying sites. 

While the concept itself is certainly not new, the buzz around the growth potential is new, and a lot of that can be traced to the use of social media in these business models.  In some ways, these are really the first sites tied into social media that are generating significant direct response revenue.  Heck, Groupon is less than 2 years old and has already raised more money with a higher valuation and will gross more than almost every other social media site except for perhaps Facebook.

On the surface, these sites seem ridiculously simple to start, operate and grow but as we all know, still waters can run deep and there really is a lot to learn about these sites.  The goal of this post is to begin to share a large group of links that dig into some of the many facets of this business model, as well as Groupon, the leading company in this space. 

 

Overview – “What’s It All About”?

(1)       Group buying: A billion-dollar Web trend?

http://www.cnn.com/2010/TECH/04/15/cashmore.group.buying/index.html

(2)       How To Groupon, Group Buying FAQs, Daily Deal Tips Guide For Businesses, Consumers

A great FAQ to the entire process 

http://tomuse.com/groupons-group-buying-guide-faq-how-to-daily-deal-tips/#ixzz0s07EfwHO

 

 Who Is Groupon And Why Are They Successful?

(1)       Groupon Company Profile

http://www.crunchbase.com/company/groupon

 (2)       What’s the Secret Success of Groupon?

In this article, the author takes a look at the increase in traffic.

http://primitus.com/blog/whats-the-secret-success-of-groupon/

 (3)       Could Groupon Save Your Business?

AMEX Open takes a look at Groupon

http://www.openforum.com/idea-hub/topics/marketing/article/could-groupon-save-your-business-john-jantsch

(4)       Groupon’s Four Keys to Customer Interaction

Harvard Business Review shares its insight

http://blogs.hbr.org/sviokla/2009/09/groupons_four_keys_to_customer.html

  

Multiple Perspectives of “The Deal”

(1)       Perspective from a merchant

A solid overview along with a very comprehensive Q&A, from a business owner that did a daily deal with Groupon.

http://smokejumperstrategy.com/archive/game-on-with-groupon/

(2)       Merchant Experiences —Services Combine Social Media, Marketing

The WSJ provides a nice overview of one merchant’s experience

http://online.wsj.com/article/SB10001424052748703787304575076001164243926.html?mod=WSJ_hps_sections_smallbusiness

(3)       How to Use Groupon to Boost Sales

Inc magazine describes merchant experiences

http://www.inc.com/magazine/20100401/how-to-use-groupon-to-boost-sales.html

(4)       Can the Deal Overwhelm a Business?

The San Francisco Chronicle takes a look at some of the impacts businesses have encountered from the daily deal

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/05/28/BULM1DLA5T.DTL

 (5)       Calculated Cost Of Using Groupon, Group Buying Deals To Promote Your Business

An interesting calculator that helps calculate the cost of doing a Deal

http://tomuse.com/groupon-calculator-group-buying-business-deal-cost/#ixzz0s05TNzRf

The Stats

(1)       Groupon’s Demographic

http://www.businessinsider.com/heres-who-made-groupon-a-billion-dollar-company-single-educated-young-women-2010-6#they-are-far-more-educated-than-the-general-population-2

(2)       Key Business Stats Analyzed

http://techcrunch.com/2010/05/02/teardown-groupon/

 (3)       Groupon’s Next Steps?

http://www.businessinsider.com/groupon-for-dudes-2010-6

 

Other Interesting and Related Information

(1)       Sites that Aggregate Group Buying Offers

http://techcrunch.com/2010/02/15/8coupons-deals/

 (2)       Using a Widget for buyers to craft buyer’s discounts

http://www.syncfu.com/

 (3)       The Aftemarket?

A marketplace to sell Groupon Coupons after they’ve sold out.  “It’s like a Craigslist for Groupons”

http://couprecoup.com/

 

In Conclusion

There’s a whole lot more to discuss on this topic, so we will create a “part 2” later this summer.  For now, I welcome your thoughts.

————————————
About the CFO Strategist

Chris is very proud to add Best Selling author to his resume.  The book he co-authored, 42 Rules for 24 Hour Success on LinkedIn reached best seller status on Amazon, hitting a high of #68 across all of Amazon! Recently the book was included in the “Top 100 Best Social Media Books, Ever” list at #77 http://blog.mellowbillow.com/2009/08/17/top-100-best-social-media-books-ever/.

To purchase the book, please go to www.LinkToProsper.com or to Amazon.

To learn more about how to effectively use LinkedIn – we offer a free eCourse at www.42for24.com

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