The only thing hotter then the weather these days is group buying.  This phenomenon is taking the Internet by storm and it has created the fastest growing company in history.  Groupon has created a haven for small businesses, allowing them to use the power of social media and the web to market and advertise their brand at no risk.  

When you think about it, the businesses that advertise with group buying solutions are actually getting paid to advertise.  Sounds crazy, but it is kind of true.  Here is how it works:

1. The business contacts a group buying provider like Groupon.
2. The business offers a deep, discounted deal to the subscribers of Groupon.
3. The deal will then go live in a particular city/region.
4. Then the magic happens, through a multi-platform campaign and social media, traffic is driven to your offer while you sit back and watch sales stack up.
5. When the deal ends, the business then receives a cheque for the offers sold.  This is the getting paid part for advertising. :-)
6. Now you dazzle your new customers with your top-notch products and services, and voila: You'll have happy, repeat customers.

For those not real familiar with group buying, especially here in the Maritimes, here is a quick video showing you what the deal looks like on the customers end.

What is your take on group buying?  Is it good for business?