Consider this, cereal lovers: You can thank the maker of your beloved Honeycombs or Fruity Pebbles for those annoying Groupon emails that seem to endlessly show up in your inbox. C.W. Post of the breakfast empire is widely credited for innovating coupon use in 1909 when the company offered 1-cent coupons in conjunction with the launch of Grape Nuts. Some 102 years later, coupons have become a vital part of businesses’ online marketing plans — and with the recent big-dollar backing of CouponCabin, our discount delirium has only just begun.
CouponCabin made headlines last week for raking in a massive $54 million in first-round funding, according to Inc.com. The upstart hopes to bring in even more investor dollars by offering a twist on the coupon game. The goal of the company is simple: to offer legitimate deals that don’t expire — and, if users happen to attempt to redeem a bunk deal, CouponCabin will give them a $25 gift card to stores like Target or Best Buy. CouponCabin deals are also different from other deal sites in the way that they mainly target online shoppers. Major brands are already represented on CouponCabin by offering one-of-a-kind deals. Yet like Groupon, users can find offers from local businesses, too. The site is easy to use and is sure to endure itself to deal-crazy divas.
Whether it’s CouponCabin, Living Social or Groupon, the sites are each tapping into our collective need to get a deal. Marketers are now challenged to find the right deal website for their clients in hopes of bringing in more customers. In 1930, Post and his contemporaries experienced another coupon boom. The country was recovering from the depression and businesses were trying to bounce back. Brands did all sorts of things to get people to shop again. Hmm… Sounds familiar, doesn’t it?