Every business has to tackle the question, “Where should I focus marketing efforts and dollars?” Traditional marketing platforms like newspaper, radio and television ads are adequate, but can they deliver a great return on your investment?
Spreading the word about your brand is a never-ending challenge, especially in an over-saturated advertising landscape. It takes creativity and determination to launch a marketing campaign that hits a homerun. Your company marketing must be so spectacular, it can’t be ignored by your target audience.
Provident Metals, a Texas-based precious metals, numismatic coins and currency dealer, decided to start accepting “cryptocurrencies” from customers who buy its products. The electronic currency is used like any other currency, except you access a digital “wallet” on your personal computer, cell phone, tablet or website to use it. The wallet also keeps track of the debits and credits.
Dogecoin is one of the cryptocurrencies that Provident Metals will accept. When Provident Metals learned that Dogecoin decided to sponsor fund-challenged Phil Parson Racing, the company realized a unique marketing opportunity.
An Innovative Business Marketing Strategy
Phil Parson Racing has struggled to obtain sponsorship, that is, until a zealous 16-year-old NASCAR fan, Denis Pavel, used the Dogecoin currency on a Reddit crowdfunding campaign to raise funding for Phil Parsons Racing Team driver Josh Wise and his No. 98 car. Pavel’s efforts intrigued Dogecoin and Reddit, who both decided to sponsor Josh Wise.
Provident Metals learned through its partnership with Dogecoin about Wise’s funding challenges. They decided to color outside lines of traditional marketing. A unique marketing opportunity had presented itself. They threw caution to the wind and became the primary sponsor of NASCAR Sprint Cup Driver Josh Wise and his No. 98 car.
“It made sense for us to partner with Phil Parsons Racing and a special talent like Josh Wise because they work extremely hard for everything they get,” Joe Merrick, CEO of Provident Metals, explains in a recent press release. “Like Provident, they have been performing with a high level of success despite being underdogs.”
Exciting paint schemes featuring Provident Metals will be on the No. 98 car from August to November, and, thanks to Dogecoin and NASCAR fans, the company is already grabbing attention and discovering new customers through the sponsorship.
That, kids, is how to seize the moment and create an innovative marketing campaign!
You need to always be on the lookout for unique opportunities to market your business. Use social media platforms to engage with customers. Learn who they are and what they enjoy. With a bit of creative thinking, you’ll discover a new way to market your product or service to customers and catapult your brand to a whole new level. Sky’s the limit!