OMG Coupons is the first of the three student businesses selected to utilize the Student Entrepreneurial Center, one of the new offices in the MU Student Center.
Conceptualized in 2008, OMG Coupons is a mobile phone application that is intended to revolutionize business and consumerism by replacing traditional coupons with e-coupons.
“It lets you search quickly and on-the-go through your own customizable mobile coupon book,” OMG Coupons Chief Brand Officer David Oster said.
The application allows users to search for local coupons either by name of establishment, type of coupon or location. Users can also receive updates about special offers of their favorite businesses by making their preferred business a favorite.
Initially intended to be a text coupon business by OMG Coupons CEO Joshua Johnson, the idea evolved into OMG Coupons after he and his team of four others conducted extensive research and established their target market.
“After doing some local and national research, we found that, on average, one in every two people in that range have a smart phone, and by 2012 smart phone penetration will total close to 70 percent of all mobile phones,” Oster said.
Taking into consideration the additional cost of using a text system, the team decided OMG Coupons was a more lucrative and feasible option.
Oster said OMG Coupons prides in being timesaving and a more sustainable, green option as consumers no longer have to spend time searching and cutting physical coupons.
By making it free to host a coupon on OMG Coupons, the application provides local businesses a platform to expand their business inexpensively. Business owners also have the option of upgrading their service by purchasing packages that would allow them to have premier spots and hosting featured coupons of the day that will increase exposure to consumers.
There are about 20 local businesses on the application, including Shakespeare’s Pizza, Breeze Outfitters and Déjà Vu Comedy Club. Although OMG Coupons is only available on the iPhone at the moment, it is projected to be available for Android within the next few months and Blackberry soon after.
Future plans for OMG Coupons include nationwide expansion, starting with other Big 12 college towns, inclusion of national chains and additional services, such as a quick-in application purchase whereby business owners could make a sale through the application and an OMG Rewards application that would allow companies to host individual rewards program.
“We feel we benefit the local businesses as well by driving new and repeat traffic to their business,” Johnson said. “While out recruiting businesses for our app many of them say they've been looking for new ways to connect with students, but simply haven't found a good avenue for reaching them.”
OMG Coupons, alongside Listener Approved and www.MizzMenus.com, was selected by the Student Entrepreneurial Program to occupy the free space for students to execute their business plans.
According to the MU Student Center website, the space was created to nurture creativity within students, and to provide a high-traffic venue within the center to house the businesses.
The business will utilize the space primarily for promotional purposes, such as hosting OMG Coupons merchandise giveaways and raffles drawings. Students can also obtain more information about the business by reading the informational fliers or watching the informative videos made available throughout the semester in the Student Entrepreneurial Center.