Dive Summary:
- Burger King has partnered with investment platform Robinhood to offer members of its Royal Perks loyalty program the opportunity to earn various cryptocurrencies, according to a press release emailed to Marketing Dive.
- Royal Perks members who make a qualifying $ 5 purchase through the BK app, BK.com, or a restaurant will receive an email with an award code that can be redeemed in the Robinhood app. The chain will give away 20 Bitcoin (valued at over $ 61,000 per Bitcoin at press time), 200 Ethereum ($ 4,300), and 2 million Dogecoin ($ 0.27).
- QSR's latest marketing and giveaway gimmick taps into continued interest in the cryptocurrency market, which has a $ 2.65 trillion market capitalization at press time, and related non-fungible tokens (NFTs) that many marketers, including Burger King, have used as part of branding campaigns.
Dive Insight:
Burger King's partnership with the Robinhood app to offer crypto takes its previous giveaways from Whoppers and Dollars to the next level. While the cryptocurrency market is particularly volatile, Bitcoin and Ethereum currently being offered are valued in the thousands, making it an attractive prize for Royal Perks members. Even the low-value Dogecoin allows the brand to engage in conversations about the so-called "memecoin" that has drawn attention thanks to Elon Musk interest.
https://www.youtube.com/watch?v=jPGl4hK1CUQ
For Burger King, the cryptocurrency giveaway is another effort to drive adoption of its app and the Royal Perks loyalty program, which expanded nationwide in September. More than 80% of Royal Perks members are likely to recommend the rewards program to others, according to the company. Burger King has previously tried to spark interest in the show by linking it to the celebrity-inspired chain. Keep It Real Meals Promotion.
In a related move, Burger King extended its Keep It Real Meals with a NFT set completion kit which sought to use blockchain technology as a tool for consumer engagement, rather than just a marketing gimmick based on digital art. Similarly, rival McDonald's today (November 1) launched a NFT draws scheduled for the return of the McRib. NFTs use the same blockchain technology that is the core of the cryptocurrency.
The growing market capitalization of cryptocurrencies has made the campaigns around it an attractive game for marketers. Burger King competitor Chipotle Mexican Grill celebrated National Burrito Day in April by giving away $ 100,000 worth of Bitcoin. In July, beer brand Corona launched "Triptocurrency, "while Unilever's Ax brand gave away a limited edition"bulldogs, "a dogecoin game.
