Weddings and related lifestyle company The Knot (NSDQ: KNOT) has long relied heavily on e-commerce in addition to revenues from its print and online content. Now, the company is looking to cut out the middlemen and create a Groupon-like deals program. In addition to capitalizing on the social shopping trend, the group deals offering at its WeddingChannel.com Deals is also seen as a way to complement its local content efforts by attracting more small businesses to its sites in what a rep described as “the ultimate cost-per-action” ad model.
While a number of media companies, most recently McClatchy (NYSE: MNI), have struck deals with Groupon, The Knot felt it could create its own version. Right now, Groupon is trying to grow its audience, and as a rep for The Knot explained, the company already has a significant audience already. The previous thinking was that brides weren’t necessarily looking for discount deals online for their wedding shopping, but with the economy still weak, and the idea of social shopping becoming more mainstream, the company felt the timing is right.