The effect that social media coupons are having on your business category is something you have to take very seriously. Because chances are you are losing business because of the Groupon Effect!
Simply put, in your geographical area the market for your services/products is only so big and if a competitor serving that same market segment and area offers an amazing social media coupon of between 30% to 60% off, YOU may find that few if any new customers are looking for your services at the prices you want to charge.
The following articles discuss what it’s like for your competitors who choose to have a social media coupon campaign. The good news is your competitor may go bankrupt because of the deal. The bad news is, your target market now expects to pay a lot less than what you need to charge for the services/products you offer.