158: Groupon

About this Episode

Grab your adult beverage of choice, put the kids to bed, meditate for a minute, and take a few deep breaths. In this episode, we’re talking about one of the most passionate topics in the float community… GROUPON. (Insert daunting theme music here…) Drew dug up a bit of research about the history of Groupon, and he sets the stage with a little foundational knowledge about how the company came to be what it is today. Gloria flips the coin to share her experiences of watching the company’s evolution from her backyard in Chicagoland.

Each host brings a completely different perspective. You’ll hear about Dylan’s history of using Groupon to pay his center’s rent when they first opened several years ago, and how Groupon customers still make up about 5% of his center’s revenue. Gloria’s take is that Groupon, in its current format, is a marketing tool (and expense), not a revenue generator. Gloria dives into the strategic thinking of how to calculate a Groupon offer (including a brilliant pricing move to immediately get a repeat visit!). Dylan reiterates how important it is to understand your cost-per-float for all of your financial and marketing decisions.

After hitting some hard points, we’re pretty sure you’ll be able to easily draw your own conclusion about using Groupon. Just kidding. There’s no easy answer. Do your homework, listen to this episode a few times, crunch your numbers, and know why you’re doing what you’re doing. Good luck!

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