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Daily Deals are Dying

I don’t think we’ve made any secret of our feelings about daily deal sites. To recap, we honestly believe that Groupon and its ilk are some of the most predatory and exploitive “business solutions” to come to market in recent memory.

Well, it’s also no secret that we’re far from the only ones to think this way, and Slate published a great article last week that rejoiced in the category-leading company’s plummeting stock, citing declining revenue and even internal abandonment of focus on the coupon model that made it famous.

Now, after a spectacular debut on the Nasdaq, Groupon is a public company. On Monday, it reported its second-quarter earnings results. The numbers were dismal. They paint an unmistakable picture of the future of Groupon and other similar sites: The daily deals industry is drying up. Groupon reported that its customer growth slowed substantially over the second quarter; the amount of money that each customer spends on the site tanked; and the company’s “guidance” for the current quarter suggests that things are going to get a lot worse. The spin from Groupon’s executives was not very encouraging. In a conference call with analysts, the firm’s CEO Andrew Mason kept talking up Groupon Goods, a service in which Groupon sells discounted merchandise to customers—in other words, something completely different from the coupons that earned the firm its IPO.
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The Social Media Advertising Question

A while back, we discussed marketing and social media, and some of the pitfalls and opportunities that exist within the new media landscape.

We were sent another article that touched on this issue of whether or not a social media marketing spend is ideal for certain types of businesses – the article singles out financial services brands as being particularly vulnerable to the drawbacks of SM, with limited payoff.

“It may well make sense for a business not to market into such uncontrolled space rather than simply leaping aboard the new bandwagon.

This doesn’t mean that social media, the Facebooks and Twitters of the new digital world, are not useful to companies and their marketers. Regular monitoring of them to see what is being said about products and brands is essential. There’s nothing quite like having a finger on the pulse of the zeitgeist in real time which is what such monitoring allows.

Similarly, the use of either as an information feed seems very sensible indeed. Websites do go down, services do go offline, planes are late, products run out. These are all things that can be usefully announced in either or both places. Continue reading

Global Coupon Launches Campaign with IndieGogo to Expand Reach of Global Digital Marketing Platform

GlobalCoupon.com seeks funds to drive awareness for global social entrepreneurship in the digital age within its first year.

VANCOUVER, CANADA – August 14, 2012 – Global Coupon Inc., today announced the company has launched an IndieGogo.com campaign to fund the accelerated worldwide release of its much anticipated Globalcoupon.com web-based platform, a revolutionary digital brand offers and brand advertising platform that brings together consumers, businesses, individual entrepreneurs, community groups and charitable organizations into a single purpose-built online community. The campaign aims to raise a minimum $1,000,000 to expand the awareness and education of the new business model on a global scale within its first year, above and beyond its planned industry launch at ad:tech London in September, 2012.

As the largest, social and entrepreneurial global crowdfunding site, Global Coupon selected IndieGoGo for one of its initial funding campaigns as it offers a collaborative community of individuals who support meaningful change and authentic values around the world. Based on principals of social entrepreneurship, community building and individual empowerment, GlobalCoupon.com is designed to solve the real challenges facing consumers and businesses of all sizes – local to global – inclusive of those living in populous emerging markets and developing nations. Continue reading

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The 2012 Games: Integration & Opportunity

Unless you’ve been living under a rock, you might have heard that there’s a rather large sporting competition going on in London right now. The XXX Summer Olympiad is being held for the third time in that city, and a lot has changed since the first two.

These particular Games will stand out in history for many reasons, and two of the major ones are closely tied to our own corporate beliefs. These two particular identifying factors of the 2012 Summer Olympics are standouts for us, for a few very specific reasons:

The Social Media Games

While the argument can (and has been made) that the first social games were really the 2010 Winter Olympics in Vancouver, it is in these games that we’re seeing it become particularly mainstream, with whole segments on the official broadcast channels being given over to the conversations surrounding the athletes and events. The growing integration of ‘real life’ with digital communication is undeniable, and it’s a world we at Global Coupon are pleased to inhabit. The use of technology in the minutiae day-to-day life is a large part of what our consumer offering is built to enable. The focus during these games on the athletes and fans who are using social media to connect, communicate and even participate shows that a digitally integrated lifestyle is becoming by far the norm. Continue reading

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Entrepreneurship & the Developing World

We’ve talked a lot about how our affiliate program is designed to give anyone, no matter where they live or what situation they’re living in, the opportunity to create their own successes. Here’s an excerpt from an article that explains why, in particular, we see this as part of our social entrepreneurship focus, in this case in the developing world:

“Opportunities for entrepreneurs in developing countries are broader in scope than in developed markets, allowing firms to pursue a portfolio approach to strategy that can efficiently manage the higher levels of business and market risk. Entrepreneurs in developing countries face a different set of circumstances than their counterparts in developed economies. These differences are rooted in the underlying economies in which they operate. Emerging markets lack a stable of mature markets and the consistency that such markets offer. Consequently, the opportunity for entrepreneurship in emerging markets is pervasive. While Western entrepreneurs operate at the fringes of the economy, emerging market entrepreneurs operate closer to the core – the needs and opportunities are more widespread.”

The full article can be read here.

While this particular study looks at traditional entrepreneurship, it’s take-aways can certainly be applied more broadly. We look forward to seeing how motivated individuals in less competitive markets can capitalize on the opportunity we believe Global Coupon presents for them. This is one area in particular in which we are very excited for what the future holds. Continue reading