The Waldorf Astoria Bull and Bear Steakhouse has come up with a brand new promotion for summer, linking discounts on your evening cocktails to the Facebook stock.
The discounting technique is fairly simple. First, you have to like the Facebook page of Bull and Bear. Then when you are at the Steakhouse, you get a discount based on the how the Facebook stock has done in the stock market. If it drops by one point, you get a $1 discount on your cocktail. The more the drop, the greater the discount, capping off at a maximum of $5.
With this promotion, the Bull and Bear Steakhouse is making an attempt to use social media to connect with younger customers. Also, since the Facebook stock is a widely discussed topic in the Steakhouse's clientele, tying a promotion to it gives more customer involvement and publicity to the pub.
Even if you are losing on the stock market, take heart! You can go to the Waldorf Astoria Bull and Bear and get a discount on your drink tab.
Facebook Cocktail Discounts
Bull and Bear Steakhouse Offers Reduced Prices Based on Stocks
Trend Themes
1. Social Media-based Promotions - Businesses can create more customer involvement and publicity by creating promotions based on social media trends.
2. Stock Market-linked Offerings - Businesses can create promotions based on the stock market performance to engage with clients and customers.
3. Discounting Techniques - Businesses can use tiered discounting systems to incentivize customers to engage with their brand both online and offline.
Industry Implications
1. Hospitality - Restaurants and hotels can offer promotions and discounts to drive increased traffic and revenue during periods of slow business.
2. Finance - Financial services companies can use promotions based on stock market performance or other key indicators to create engagement and strengthen customer relationships.
3. Retail - Retailers can use social media-based promotions to create buzz around new products and drive increased sales during periods of slow business.