Benchmarks and Competitors
Our competitors vary from companies utilizing social media to wellestablished
marketing agencies. An example of a business that uses social media to aid businesses in
profit is Groupon. Groupon is a website that provides users with valuable coupons for
certain establishments within the user’s specified region or international deals online. The
coupons can range from dining, online language courses and photography sections.
Groupon’s defining qualities include a “no catch” policy; they believe customers are
entitled to what they pay for without any restraints. Groupon was launched in 2008 and
has relations with over 250 000 businesses and operates in 48 countries (Groupon
Website). A survey on social media users looking for online deals showed that 76% of
those users chose Groupon as their preferred website (Pivot Conference, 2011).
Groupon’s popularity stems from the affordability of the deals provided and the constant
flow of updates to subscribers; this encourages customers to purchase deals, instilling
fear of missing out on an opportunity. Even though Groupon is highly accessible to its
consumers, it does not maintain a personal and consistent relationship with their invested
businesses. Groupon only provides a shortterm interest with coupons because they
promote the deal rather than the establishment associated with the coupon. We have the
competitive advantage over Groupon in the sense that we work to maintain a consistent
awareness of our clients to our social media users. As well, our frequent updates do not
only include deals but also great things about our invested establishments; we find this
inclusion of descriptions and facts of the businesses important because it not only
reinforces our relationship with the business but it also encourages customers and
application users to form an attachment to the establishments they like.