Social Savings: Groupon and Living Social

The Internet has shifted the way we do most day to day events. We dont waste time any more clipping coupons out of newspapers in this technology driven world today.

“40% of online economic users searched on the internet for cost-saving coupons” Pew- The Internet and the Recession

In times of the recession and everybody is more cautious with our money, Two sites have made a name for themselves for having amazing deals of local restaurants, cool events, spas, drink special. (fun and some functional deals we all need in theses hard times!)

Groupon and Living Social have integrated web 2.0 philosophy with the growing trend on the web of location and personal and are known as group buying sites

These sites incorporate these factors:

  • Big savings
  • Sharing with friends
  • location

Location!

“Over the past year, more and more marketers, tech wizards and startups have adopted a new mantra from their brethren in real estate: “Location, location, location.” (The New Dot-Com Boom)

The web is shifting and making it more focused on the individual offering relevant specials and deals that that person could do in their home town. Living social specialized location page is just for the town you live in and feature only small businesses and events in those towns. Whats unique about Living social is they incorporate a background of that town making it more personalized for you.

Benefiting The Little Guy

Small business are also benefiting from group sharing sites. They are getting recognition on a heavy traffic site. Small Business get people interested in their product or service and get people new cliental.

Site like LivingSocial encourages sending it to friend and if 3 of them buy the coupon you can get yours for FREE! Groupon also encourages you to share that days deal with friends and provides social media links.

Small business are getting free advertising and marketing and generating large amount of traffic through these social based group sharing website onto hundreds of people Facebook and Twitter pages.

Livingsocial logo

Living Social

Founded: Washington DC in 2007

Estimated to have around 10 million subscribers in 2010- Techcrunch

Living social includes: Living social, Escapes and Adventures

How living social works:

How Living Social Works

Groupongroupon logo

Founded: Georgia in 2008

Over 31 million total groupon bought and over 1 billion dollars saved

Groupon is also an international service having deals offered is many different geographical locations. Groupon recently reported on Feburary  19,2011 that they were preparing to launch in China. Wikipedia

Groupon asks what area you live in as well as our age to help promote deals that would interest you instead of just broad deals that might not have any relevance to your life.

For business use there has been a great feedback on the service these websites provide. For example, GrouponWorks states:

97% of business want to be featured again on the site.

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