Google’s share of US digital ad revenues are expected to drop to a mere 29.4% market share for 2020. That’s good news for other channels but clearly a sign that when many advertisers consider digital advertising strategies, it’s Google or nothing.
As advertisers seek options beyond Google for their digital advertising programs, of note is a campaign launched by Burger King last week in advance of the unveiling of their new “$1 Your Way Menu” on December 28.
Target marketing can be super difficult for fast food chains and the like where virtually “everyone” is your target customer. As a result, their typical broad reach ad campaigns include traditional broadcast channels like TV combined with a multitude of sports marketing venues and event sponsorships designed to reach buyers where they consume or develop an appetite.
Burger King gets kudos for creativity in preparing to launch their new dollar menu campaign this week. Rather than perpetuating the broad reach, high waste approach, they employed a laser-focused tactic that is simultaneously capturing the attention of their targeted consumers while garnering accolades from industry professionals.
Burger King leveraged Venmo, the mobile peer-to-peer payment app owned by PayPal, to reach the millennials and younger generations who are the most prominent users of the platform. Burger King surreptitiously deposited $1 into “select customers Venmo accounts” to promote the new menu offerings in advance of the product availability. (When you note that 82% of Venmo users are between the ages of 18-34, this approach presents an opportunity for much higher impact with their targeted consumers.) Burger King has been encouraging fans to check their Venmo account to see if they were among the undisclosed number of recipients and notes the remaining decision is how to spend it.
It is still too soon to see how well this concept pays off for Burger King, but you can bet that other B2C marketers will be paying close attention as they explore more cost-effective tools for their digital marketing spend in 2021.
Regardless of your age, if you have a Venmo account, be sure to check it this week and see if you’re one of the recognized few.
This post is courtesy of MMC Principal Jennifer Koon