The end of daily deals

Daily deals apps like Groupon and Living Social were all the rage at one point. They burst onto the scene with a big promise: offer consumers deals to come in the door, then they will remain loyal customers.

They raised millions of dollars, created millions of deals and had millions of users. Then it all fell apart because the promise wasn’t true. Consumers came in the door, but didn’t remain loyal customers. The cycle stopped. The bubble popped. Eventually the rubber hit the road and there was a broken promise.

It’s crazy how that works. Do what promise will you make and how will you make sure to keep it?