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If Groupon makes money by taking it away from advertisers, these numbers are compelling. Just consider John Wanamakers famous line: "Half the money I spend on a
by alexqgb 16y ago
If Groupon makes money by taking it away from advertisers, these numbers are compelling. Just consider John Wanamakers famous line: "Half the money I spend on advertising is wasted; the trouble is I don't know which half."
The fact that this quip still has plenty of currency a century later indicates just how exposed the advertising business really is.
- alexqgb 16y agoCorrection: When I specified whose lunch Groupon was eating, I said 'advertisers'. I should have said 'advertising agencies'. From an advertiser's perspective, Groupon's pitch is really compelling. Instead of spending money on traditional media-buys to generate some interest and a few sales, spend the same money generating a lot of actual sales, and call it a day.