Hi. My name is Kristin and I’m a Groupon junkie. 
I have been for at least two years now.
I admit it, I have a problem.
I feel as if Groupon was created just for me and people like me…aka bargain shoppers. However, even though the Groupon deals are a benefit to me, the shopper, I still often wonder how businesses make a profit when they are offering such outstanding discounts.
I understand that they “hope” the customer returns and buys the product/service again but at full price, however, what really are the chances of that? Looking back at all of the Groupons I’ve purchased – from massage specials, to restaurant discounts, to boot camp deals – I have yet to go back to any of the businesses after using my Groupon.
The other day I came across this article that brought up some really great points on how Groupon does not benefit the businesses using it. One main argument the author made that really struck a chord with me was #3, Groupon does not build loyalty. And, as I mentioned before, I’m living proof of that. His resolution to this and the other points he brings up – focus on YOUR CUSTOMERS.
This doesn’t solely apply to businesses using Groupon; it also applies to B2B marketers. Of course everyone wants to win that RFP and get the new business, however, sometimes it’s best to focus on your current clients and nurture them before seeking new business.
Attempting to gain a new relationship can use up more energy and take up more of your valuable time compared to building a current relationship. If you can retain a client and gain their trust, your workload will most likely keep increasing, resulting in more $$$!
Don’t get me wrong. I believe that business development plays a HUGE role in growing a company’s assets. However, I also think that more than likely, there is a lot of additional business to gain from your current clientele that you may not even realize.
My word to the wise – continue seeking out new business, however, don’t forget about your current book of business and the hidden opportunities you may be able to uncover.
Images courtesy allspentout.blogspot.com and etresvelte.blogspot.com















