Couponing niche is one of the most crowded niches in US. There are many coupon/deal sites US which have sprung up in last 5-10 years. And many more continue to show up every day. Many me too sites never end up seeing the light of day. These sites struggle to raise money and hence traffic.
Despite being the most crowded niche entrepreneur continue to come up with innovative business models. One of the recent kids on the block is coupons block ( block-c.com). The site has unique way of collecting deals and coupons.
According to one the founders they actually crawl twitter and facebook feeds daily and look for coupons which are popular and are being shared widely among people. The popularity of coupon or deals is used to decide the ranking on the front of the page.
The site is not unique in its approach alone. In fact there are other sites such couponfollow.com which follows a similar approach. But according the founders , they are soon going to create a social platform around coupons/deals wherein the users could also submit deals.
They are going to create an open platform, allowing users to earn money from their deals as well.
Their models is innovative for sure but the founders can’t deny the fact that they are trying to build a business model in a hyper competitive niche. It remains to be seen how coupons block will stack against existing giants such as retailmenot.com which dominates the SERPS.
Coupon block is not scared of competitors in fact they have launched local cousins in 3 different countries : India and UK as well. Only time will tell how the startup will find a space for itself in a hugely crowded niche.