Burger King doles out crypto on Robinhood to boost loyalty program

Dive Brief:

Burger King has teamed with investment platform Robinhood to offer members of its Royal Perks loyalty program a chance to win various cryptocurrency, according to a press release emailed to Marketing Dive.
Royal Perks members who make a qualifying $5 purchase via the BK app, BK.com or a restaurant will receive an email with a prize code that can be redeemed in the Robinhood app. The chain will give away 20 Bitcoin (valued at more than $61,000 per Bitcoin as of press time), 200 Ethereum ($4,300) and 2 million Dogecoin ($0.27).
The QSR's latest marketing stunt and giveaway taps into continued interest in the cryptocurrency market, which has a $2.65 trillion market cap as of press time, and the related nonfungible tokens (NFTs) that many marketers, including Burger King, have utilized as part of brand-building campaigns.

Dive Insight:

Burger King's partnership with the Robinhood app to offer cryptocurrency takes its previous giveaways of Whoppers and dollars to the next level. While the cryptocurrency market is particularly volatile, the Bitcoin and Ethereum being offered are currently valued in the thousands, making it an attractive prize for Royal Perks members. Even the low-valued Dogecoin allows the brand to tie into conversations around the so-called "memecoin" that has gained attention thanks to interest by Elon Musk.

For Burger King, the crypto giveaway is another effort to drive adoption of its app and Royal Perks loyalty program, which it expanded nationwide in September. More than 80% of Royal Perks members are likely to recommend the rewards program to others, according to the company. Previously, Burger King has attempted to stoke interest in the program by tying it to the chain's celebrity-inspired Keep It Real Meals promotion.

In a related move, Burger King extended its Keep It Real Meals with an NFT set-completion game that sought to use the blockchain tech as a tool for consumer engagement, rather than just as a digital art-based marketing stunt. Similarly, rival McDonald's today (Nov. 1) launched an NFT sweepstakes timed to the return of the McRib. NFTs use the same blockchain tech that is at the core of cryptocurrency.

The growing market cap of cryptocurrency has made campaigns around it an attractive play for marketers. Burger King competitor Chipotle Mexican Grill celebrated National Burrito Day in April by giving away $100,000 of Bitcoin. In July, beer brand Corona launched "Triptocurrency," while Unilever's Axe brand gave away limited-edition "dogecans," a play on dogecoin.