As one of the fastest growing companies around, Groupon employed many growth hacks that helped lead to massive growth. In this article we’ll examine some of them and how you can apply them to your own online business.
As you’ll see later in this post, Groupon is based of turning subscribers into marketers by giving them control to spread the Groupon product.
Sharing is in Groupon’s DNA
You just found a great deal on Groupon. It’s one that you can’t pass up. The only problem that jumps in your way is that not enough people have signed up for the deal – and the deal expires in 2 hours.
Telling your friends, family, followers and whoever else you can about the deal and encourage them to buy. Those uninitiated with Groupon will become introduced to it through the deal.
Takeaway:
Have you built your own Groupon style promotion? If not, try running a sale on a certain item. Or try offering big discounts to your current customers only if they sign up X amount of people within Y amount of time.
Groupon’s for Multiple People
A movie ticket for one may be a nice deal, but what about for 2-3 people? These Groupon’s for multiple people help spread the advertising of Groupon.
Takeaway:
Whatever your business does, it may be beneficial to add a package deal. If you run a SaaS company that sells project management software, you should try a ‘Buy one, get one for a friend deal’. Similar to referrals, this would have a customer buy your software, getting a discount for them, and then giving the software to another person who has never used your product before. The individual that got the referral then gets a month or two free trials. This spreads your product and increases your viral coefficient.
It may be overlooked, but the fact that Groupon sends daily emails can be attributed to their surge in growth. Less frequent, more frequent, or no emails at all (requiring users to go to the Groupon page themselves), would negatively impact their growth. Emailing too often will lead users to unsubscribe. These daily emails get subscribers to keep coming back to the Groupon product a few times a week if not every day.