Local deal sites are seemingly becoming a new bandwagon, and one that looks set to run for a while given the current economic climate – who can resist a good deal? Dealquad has jumped firmly on board and is targeting college students for its business model. Unlike Groupon and the other deal sites, DealQuad works directly with college newspapers to match local students to equally local deals. Incidentally, college newspapers also benefit. So far, DealQuad has made deals with Harvard, U Michigan, and U Washington with more in the pipeline.
DealQuad uses the familiar group buying scheme where each deal needs a certain amount of buyers before it becomes active. This incentivises students to invite their friends via the handy Facebook, Twitter and plain email sharing tools built into the website. Anything between 35-50% can go back to DealQuad and the participating paper. There is a bit of a twist to the sit:, when signing up for DealQuad you can join a group like a fraternity, club or charity organisation. If significant numbers of users sign up for the deal, then the group with most amount of sign-ups wins a small cash prize.
Good for everyone it would seem! As expected deals are targeted at younger audience groups from local business exploiting that community loyalty often seen in university towns. Website creators have commented that their deal site is a good way for students to make that student loan go even further.