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-campingSix Flags launches loyalty program:https://www.marketwatch.com/press-release/six-flags-launches-preeminent-new-loyalty-program-2018-08-15 Main Topic:Groupon/GoldStar DiscountingOften 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.