To many of the small businesses I’ve been talking to recently, that is indeed the question, what with Groupon’s exploding popularity, insane valuation, and of course, the fact that The Goog is about to power-bomb into the frothy social-buying waters.
The whole phenomenon sounds great on the surface, but it can present a conundrum for a lot of small business owners. It is, let’s face it, a question of quantity vs. quality – is it better to sell your product (into which you pour your blood sweat, and yes, tears) briefly for 75% off in the hopes of attracting a few new customers that might pay 100%? Or should one stick to organically growing an authentic customer base, albeit at a slower rate? Questions of strategery, indeed.
Enter the Groupon Decision Tree
The answer, as in many cases in life, is not cut and dried, but fear not, for I’ve distilled the choices down for you, using my patented Group-Buy-O-Matic diagram (also known as a friggin’ decision tree for Groupon, LivingSocial, and all the other group-buying services out there).
What do you think? Anything in the decision tree that’s missing? Or do you guys think Groupon is a win-win across all fronts? I’m interested to hear your stories and anecdotes in the comments!