Groupon: Try it for business bargains…or great business exposure.

I just took advantage of a deal on Groupon. I was thinking “It’s hot. I need more shorts. I need to go to Old Navy.” Then I checked my email and saw a $10 for $20 Groupon (like a coupon but different) from Groupon. Sale items included. I promptly took advantage of it. (You can check out the same deal at Groupon.) I am a big fan. I used it to get great Atlanta Falcon tickets and a hat, a photo to canvas print, yoga studio deals, and beauty treatments. (I know I may be fine as I am but a little pampering always helps!)

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A representative from Groupon also spoke at the Team Ivy Breakfast Networking event in May in Atlanta at the City Club of Buckhead. (I must note that I am the president of this association.) The speaker focused on what Groupon’s strategy is and how it’s rolling out across the U.S. and other parts of the world. Groupons focuses on driving business to small, local, retail-oriented businesses via offering consumer-oriented business bargains. Yes, they do sometimes use larger businesses like this Old Navy one but that’s the exception, not the rule. In lieu of coupons, you get Groupons. (Cool, eh?) If you have such a business, the exposure you can get from one Groupon offering could far outweigh many or most of your other advertising and marketing initiatives. Contact Groupon. You need to be able to service several hundred to several thousand purchasers within a designated period of time. Groupons typically expire after 2-6 months so you’d have to service the purchases within this redemption period. Yes, Groupon has grown like gangbusters. Why? Because it serves a market need in a highly efficient way. We all like to experience great deals but who likes constantly looking through the mailers to see what deals are out there? Groupon aggregates those deals and sends them to you one day at a time.

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About Tiffany C. Wright - The Resourceful CEO

Tiffany C. Wright is the author of “The Funding Is Out There! Access the Cash You Need to Impact Your Business” and “Solving the Capital Equation: Financing Solutions for Small Businesses.” She is the founder of The Resourceful CEO, which helps owners of small/medium-sized businesses prepare their businesses for sale. Tiffany has an MBA from the Wharton School of Business, sits on non-profit boards and serves as a business mentor with the Cherie Blair Foundation.
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