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If you can’t join them…beat them. |
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If Groupon has proven one thing, it’s that social crowdsourcing is huge. It’s enormous, and it is here to stay. The market it created has enough room for not only Groupon, but for LivingSocial, which is on fire thanks to Amazon, hundreds of Groupon clones of all different sizes, and now potentially Google.
But with competition on the rise, Groupon isn’t sitting on its laurels. The group-buying giant is diversifying, recently opening Groupon Stores, a self-serve deal platform so that businesses can create their own stores and released the Deal Feed to combat deal saturation.
The truth is that nobody knows the limits of effective crowdsourcing. Customers are indulging in the daily deal phenomenon, businesses are getting on board and Google is about to dive into the space after their nearly $7 billion acquisition deal was denied. Yep, Groupon saw so much potential in their model that they said no to Google.
So with the numbers climbing, the question is, how are you going to ride the wave of crowdsourcing?
Quote of the Week:
"The greatest danger in times of turbulence is not the turbulence; it is to act with yesterday's logic."
Peter Drucker
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