[Reach] Do You Have Taco Bell’s $1 Bill?

Reaching new customers through a social media contest

Taco Bell announced a new social media contest to win a $10,000 gift card – which they are saying is like winning Taco Bell meals for life.  I’m calling it a social media contest as the daily videos are released on YouTube.  You win if you have a $1 bill that matches the serial number of the $1 bill Taco Bell “released” into each city. Each day a new YouTube video will be posted with the serial number of the bill for that day.

True ROI from this campaign will  be hard to measure but Taco Bell says they are measuring engagement on Twitter, Facebook and Instagram.  Presumably engagement will increase as people share the contest.  The goal of the contest is to promote their new $1 menu.

How can you use this?  For starters, the prize is huge.  $10,000 is a lot of dollars. But to Taco Bell it isn’t that much.  They are giving away their own product so $10,000 in product isn’t going to cost them $10,000.

What can you give away that:

  1. has a high real value to your customers?
  2. costs you much less to produce than the “street value” of the prize?

How can you tie the contest rules into your product or service?  $1 bill ties to $1 menu.

You will have heard me say before “no more ipads” meaning that a social media contest giving away something  that doesn’t relate to your product or service doesn’t attract the right prospects.

Watch this campaign and see how it turns out for Taco Bell.