This morning I was captivated by this headline:
Living Social CEO: Our Business isn’t ‘Daily Deals,’ It’s Ad Dollars
“We realized with the asset base that we had that we should be able to do other things and leverage it into new areas,” LivingSocial CEO Tim O’Shaughnessy said during a conversation with Street Fight CEO Laura Rich at the 2013 Street Fight Summit on Thursday. “I think that’s where we’ve been spending a lot of time focusing. How do we take the hundreds of thousands of merchants that we work with, the tens of millions of customers that we have, this big salesforce, and a technology team and figure out new ways to get customers through the doors of merchants. That’s really what our business is about. People think its about daily deals, but it’s advertising dollars.”
Reading this today with my morning coffee made me think of Hopster, and how ahead of the curve we really are. From the get go our business model has always been about converting coupons into relationships, not about our renowned IP of “Boosting your Savings.” Yes, Boosting is a great value added service, along with unlocking more savings, engaging with brands to earn points and simply signing up with Hopster to turn points into savings.
Just as LivingSocial has always actually been in the Ad Dollar business, we are in the relationship business. And we acknowledge it, know it and live it every day.
As our position states: Hopster, the digital experience that helps CPG brands convert coupons into relationships that drive consumer engagement, targeted trial, brand loyalty and advocacy. It’s simple, transparent and evident.
We have a value exchange: the more you do on Hopster, the more you are rewarded. The more you purchase, the better your standing is within the Hopster community, and ultimately is within the brands you interact with every day. This is really Value Exchange 101 — the win win for everyone.
Ultimately, it seems that LivingSocial is having a coming out party to some degree: stepping from a hidden shadow, peeling back the veil of secrecy and becoming transparent to the world as an already very mature company.
Good for them. It’s about time.
- LivingSocial CEO: Our Business Isn’t ‘Daily Deals,’ It’s Ad Dollars (streetfightmag.com)
- LivingSocial CEO Tim O’Shaughnessy Says People and Culture Keys To Success (tech.co)