Dubious but curious as to how effective it might actually be, I signed up for a Groupon account. The way it works, I learned, is that Groupon posts deals for companies on their site (for which users receive e-mail notifications), and if enough users sign on to buy the featured discounted product, said product will then become available to all. The downside of course is that if it doesn't draw enough interest, no "deal" is made. As a result, buyers are incented to get their friends to sign up and sign on to whatever deal they've homed in on, which translates to a potentially great amount of buzz for that particular product. To facilitate the process of telling friends about the site, the Groupon home page even connects to your Facebook, allowing for a streamlined connection to potential converts in your friends list. The whole Groupon concept is ingenious in that it effects word-of-mouth with little risk to both sides of the deal (the seller and the potential buyer).

I don't know any hardcore Groupon users as yet, but I can just imagine the accompanying mania that Groupon might stir in certain social networks (I think of the Freecycle movement, which draws on communities to fuel the exchange, or "recycling," of items--there are so many avid Freecyclers in my community that it seems like a full-time job to its many devotees). Friends messaging each other trying to build up enough interest so they can get the ginormous discount on whatever products they've set their eyes on. I can imagine the fun and all the hubbub!

I'm very interested to see how we can put Groupon to use at the business school. Have any of you tried it yet, both personally and/or for your company? For personal users, has Groupon gotten you to spread the word to your Facebook (or non-FB) friends? For companies, how successful has your Groupon marketing campaign been?