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In the late 2000s, the United States ran one of the largest discounting (via couponing) experiments in entrepreneurial history.
A small startup based in Chicago came up with a radically different idea to help small businesses generate buzz, awareness, and customer acquisition. Instead of encouraging them to run ads on Facebook, or helping these small ’e’ entrepreneurs launch creative discounting campaigns, this startup turned the age-old marketing tactic of couponing, digital.
These digital coupons were called Groupons.
10 years later, Groupon has become a thing of the past with a market cap of less than $1 billion.
What happened?
In this ’mini-book’ you will learn:
- Why Groupon went from being one of the most valuable startups in the world to being seen as an outdated, irrelevant marketing channel.
- What Patagonia, Apple, and Tesla can teach entrepreneurs and small business owners about flash discounts.
- How discounts force businesses into a ’race to the bottom’ in a way that actually hurts their year-long economics.
- How to make your Black Friday marketing efforts about radical gratitude and giving.
- Four simple ways to promote different offers to customers and stand out among the sea of copycats.
- Smart ways to run a discount for potential Superconsumers to introduce to your product or service.
This mini-book is short and sweet, yet filled with incredibly valuable insights on how to create brand affinity that further establishes your business as the category leader.
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