See, They Combined 'Group' and 'Coupon'...

Over the weekend someone sent me a link to the Web site Groupon.

It's a pretty simple concept. Each day a Baltimore business (the site also operates in a host of other cities) offers a coupon on Groupon. If enough people sign up for the deal, it becomes official. If not enough people do, the offer is rescinded.

Here's an example. Today's deal is $15 for one hour of bowling and shoe rental at Mustag Alley's in Little Italy (normally, that package would cost $31.50). When I logged on around 8:30 this morning, 10 of the required 20 people had signed up for the package. Now, just before 10, more than 25 have, meaning it's official. If the minimum hadn't been met, people who signed up for the deal wouldn't have been charged.

This form of social media marketing seems smart to me. It's a win-win for businesses and customers. Check it out when you get a minute. Maybe I'll see you at Mustag Alley's.