Sunday, November 21, 2010

Groupon: Growing and Giving

Groupon--the site that offers a local daily discount deal to subscribers in 22 countries--is growing so quickly that highly popular deals have twice crashed its tech network. With the holiday shopping season in full swing next week, Groupon is going all out to attract bargain-hunting buyers and maintain the momentum it's achieved from word of mouth and media mentions, including a spotlight mention on Oprah Winfrey's TV show.

Even non-profit deals are available on Groupon: Kiva recently offered a 40% off deal in which consumers pay only $15 to make a $25 microloan to an entrepreneur in the US or abroad. A minimum of 500 buyers was needed to get this deal going and that minimum was quickly reached and far exceeded, with thousands of buyers taking advantage of the opportunity to do a good deed at a good price. Groupon and its sponsors made up the difference to ensure that the full $25 went toward each microloan. Great marketing for a good cause and a wonderful way to show that Groupon has a heart.

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