Marketing Against The Grain How to Beat the Recession
Jun 23, 2022
Discover how Groupon navigated a recession to become a business powerhouse, even turning down a $6 billion offer from Google. Uncover innovative pricing strategies that can help brands thrive during tough times. Explore the exciting world of short-form video content and its role in capturing attention. The hosts highlight the CCN leadership model to enhance team dynamics and emphasize the importance of smart associations for personal and professional growth. Tune in for humorous anecdotes and practical marketing insights!
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Groupon's Rapid Growth
- Groupon, launched during the 2008 financial crisis, became one of the fastest-growing businesses ever.
- Initially, they offered merchants a no-lose deal, taking zero profit unless a certain number of deals were sold.
Groupon's Scrappy Start
- When the Chicago Bulls refused a deal, Groupon bought discounted tickets through the Bulls' public offer.
- They then resold and hand-delivered them, demonstrating their scrappy early approach.
Pricing in Recessions
- Consider pricing strategies in a recession, as price sensitivity increases.
- Focus on customer investment rather than extracting short-term value.