Groupon and the Art of Discounting

https://is1-ssl.mzstatic.com/image/thumb/Podcasts221/v4/5b/8f/fb/5b8ffb62-8772-5e76-b7e1-c91bfefb21ac/mza_16813615058014852807.jpg/600x600bb.jpg

Marketing Your Attraction

Seasonal Entertainment Source Magazine

64 episodes

4 weeks ago

The "Marketing Your Attraction" Podcast is essential listening for every member of the Attractions Industry, including theme parks, haunted houses, escape rooms, family fun centers and more. Every episode takes listeners on a deep dive into a different marketing topic and how it applies to the Attractions Industry. Hosts Brad and Philip have spent over a decade in the industry and bring a total of over 20 years of combined marketing experience. Subscribe now for your regular dose of marketing insights.

All content for Marketing Your Attraction is the property of Seasonal Entertainment Source Magazine and is served directly from their servers with no modification, redirects, or rehosting. The podcast is not affiliated with or endorsed by Podjoint in any way.

Groupon and the Art of Discounting - A Cautionary Tale

Marketing Your Attraction

32 minutes

7 years ago

Groupon and the Art of Discounting - A Cautionary Tale

NEWS/Quick-Takes:
This 18+ Horror-Themed Campground Is The Most Disturbing Place To Go Camping: https://www.narcity.com/ca/on/toronto/travel/this-18-horror-themed-campground-near-toronto-is-the-most-disturbing-place-youll-ever-go-camping

Six Flags launches loyalty program:
https://www.marketwatch.com/press-release/six-flags-launches-preeminent-new-loyalty-program-2018-08-15

Main Topic:
Groupon/GoldStar Discounting

Often necessary on slower days. Build the margin into your price.

Make a discounting plan before you begin. You don’t want to be reactive (IE numbers are low, so we’ll reduce price). There’s not getting around that school and work nights are tough for our audiences. Nobody wants to feel like they spent more than they had to. Audiences come to expect something is listed on Groupon/Goldstar. Thus, it’s both an advantage and a disadvantage.

Our recommendation?
Build those margins into the plan from the beginning and form relationships with discount sites ahead of time. That way, when it is needed, you can pull the lever. Those sites are a last resort.

Don’t forget to negotiate with the sites and try to add value on your own platforms first.

Can you add value to your channels first? IE buy a ticket get a free food item, etc.

If the added value doesn't work, try a targeted discount. Keep this discreet if possible.

Wrap-Up:

Free Subscription to Seasonal Entertainment Source: http://seasonalentertainmentsource.com

Visit MarketingYourAttraction.com for blog posts and an archive of past episodes.

Subscribe to the podcast and leave a review on iTunes or your favorite podcast player.