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LSS'10: Perry Evans Refining the Blunt Instrument of Groupon

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Refining the Blunt Instrument of GroupOn …

Refining the Blunt Instrument of GroupOn
Perry Evans, CEO Closely
GroupOn, and Daily Deals in general, represent the most impactful new local lead generation media play in decades. Perry will dissect and project the impact on this hot new space, examining the potential implications on search, mobile and display ad models and on SMB purchase behaviour.

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  • 1. Refining the GroupOn “Blunt Instrument” Local Social Summit November 18, 2010
  • 2. Topics • The Daily Deal Phenomenon • Small Business Viewpoint • Daily Deals: Fast Forward • Local Media Playbook
  • 3. Straw Poll Which best describes your view of Daily Deals? A. It’s an over-hyped model that is great for desperate times, but it’s not sustainable B. It’s a foundational shift, that is a BIG part of the future of local shopping
  • 4. Daily Deal Phenomenon • Gross Revenue pacing at ~$1B, $2B 2011 – GroupOn fastest growth tech company, ever – $600M from a few thousand local SMB’s • 150-200 daily deal sites, 400+ deals/day – Every local media co entering in some form – Scaling internationally • 40K+ businesses in deal distribution queue • 15+ startups aggregating deals
  • 5. The Success Formula • Struck a chord of pent-up consumer desire – Get out again, without the expense of 2008 – Hip to save, remove the embarrassment of coupons – “Group” key to concept/brand, now tangential • Struck a chord of SMB local lead frustration – Complexity & mediocrity of media and search – Zero risk model • Perfect storm of timing (economy, social) + brand
  • 6. SMALL BUSINESS VIEWPOINT
  • 7. SMB Love Fest?
  • 8. Lead Generation Success Pre-paid Customers Zero Risk Deep Margin Cut Drive By Customer Quantity & Timing Control SMB Viewpoint We Love This We Hate This No Customer List
  • 9. Deal Design: Refinement, Complexity, Noise
  • 10. DAILY DEALS: FAST FORWARD
  • 11. SMB Social Marketing & Deals • Consumers follow businesses for special treatment • Deals/customer special events as mainstream social participation • Emerging picture: – Brand/conversationalists (edge) – Lead marketing (scale) – Value-added intermediation (mainstream) RazorFish October 2009 Study
  • 12. Key Shifts in Process Promotion Types & Use Cases Distribution Self-serve
  • 13. Deals Morph with Mobile & Social: Live Social Marketing • Promotion Use Case Expansion – Casual offers: enticements to visit – Events & activity announcements – Social offers: friends/neighbor behavior – Return visit loyalty – Networked appointment bookings • Real Time, Any Time: Yield Management – Live publishing – Mobile search & personalized discovery
  • 14. Deal Distribution: Silo > Ubiquity • Live Search Tags • Live Display Feed/Ads • Daily Deal Campaigns • API: Consumer Apps/Sites • Feed Distribution to Maps, Search, Social, LBS Partners • API/Dev Programs
  • 15. Self-serve Aims for Mainstream • GroupOn • Facebook Deals • Google Places Offers • Foursquare • Yelp • Twitter? • Closely ;) Dashboard Remote Control
  • 16. The Big Ideas • Pre-paid purchase model could be foundational • Live social marketing can evolve to yield management for local. • Offer content is a new shopping content layer, akin to Reviews.
  • 17. Local Media Playbook? Value-added Aggregation of Local Offers. Search Tags. Live Offer Display. Website Widget. Package to Your Strengths. 1. Zero in on Social Promotion 2. Package & Simplify Distribution 3. Instigate the SMB Social Graph
  • 18. Thank You! Perry Evans Closely, Inc. perry.evans@closely.com Twitter: @perryevans Mobile: +303-550-1205