This article was last updated on May 25
One of the hottest new trends to hit the internet over the past few years is social media coupon sites. These websites offer incentives to people to make it easier for them to save money, as well as to share and earn coupons for products and services with friends.
These websites will often use social media channels like Facebook and Twitter to help people find deals that are of interest to them in their local area. The interested individuals can then recommend and share these deals with their own group of friends and contacts, thus spreading the word exponentially.
Although not the only companies that are specializing in coupons or money saving deals, two of the most popular coupon sites are Groupon and LivingSocial. Both of these companies are busy raising funds in order to expand, and both companies make very good use of social media marketing features.
Groupon is probably the best known and largest social media coupon site and consistently offers great deals on a wide variety of products and services that are sold in the website visitor’s local area. These deals are available in over 500 markets and in 44 different countries – so the extent of where to use the deals found on Groupon is enormous.
By taking advantage of “collective buying power,” Groupon is able to obtain great discounts from the featured businesses and pass these savings along to the customer. And, it’s easy to get started with using the deals quickly. Site users simply sign up at Groupon.com and register for their local region. Then, the user will begin receiving regular emails showing them the local deal of the day. For example, a local sushi restaurant may show a deal where the Groupon user can pay $10 but actually receive $25 worth of sushi at the restaurant.
There is a minimum number of people that have to buy into the deal in order to receive the savings. But once the group is “on,” then the deal will stay active for a period of 24 hours, or until the event sells out. Given the number of people that use Groupon now, most deals get activated.
Grouponing is a great way to save money and allow yourself to try new places! But, there are even more benefits to Groupon than just savings. You can actually earn credits for deals as well. In this case, if somebody that you refer to Groupon subscribes to the site within 72 hours of your referral, then you will receive a $10 credit whenever that person makes their first purchase. So, sign up for your free Groupon account and see the savings and the credits can really begin to add up!
LivingSocial is another great website that offers similar types of savings and credits through social media. This site also posts some great deals from local businesses in the user’s area. Each day, LivingSocial has one great deal. Once posted, all the user needs to do is click to purchase the deal and they will receive a voucher for it the following day.
In addition to the savings component, there is also a way to share the link to the deal with your friends. And, if three friends also purchase the deal from the link that was shared, then you receive the deal for free! Here again, both savings and credits can help you obtain a huge variety of products and services for much less than list price.
Using Social Media
While other coupon related pages are marketing on social media sites like Facebook, Groupon and LivingSocial offer the easiest ways for users to not only see and purchase great deals, but also provide incentives to these individuals to share the deals with their own group of Facebook friends.
In addition, there are now iPhone apps that provide coupons for deals directly to peoples’ cell phones. And often this marketing is taken even one step further in that the deals are sent for the locations in the phone user’s local area.
Everyone is looking for ways to save money – especially in today’s tough economy. Groupon and LivingSocial have truly helped make this happen for people – while also providing people a way to earn additional credits on deals at the same time.