JP Morgan Chase has taken to Facebook to promote its Chase Freedom credit card, entering people who 'like' it on the social networking site into a million dollar sweepstakes.
To push the card and its 'cash back' theme, the bank set up a Facebook page last year and has since been regularly adding updates.
This month - between 3 October and 23 October - it is has been inviting people to 'like' it and then enter a sweepstakes. Participants were able to enter once a day, for a daily chance to win $500 and one opportunity to grab the $1 million.
Through the campaign's 'face', Ben Grant, the bank has been posting videos, polls and pictures of daily sweepstakes winners on its Facebook wall.
Having accumulated over 474,000 likes for the page, JP Morgan Chase will reveal the $1 million winner next week.
Well, this is NOT exactly THE WAY the "World" should Go'round...In Social Media you don't want a million people "liking you" because of a "prize"...What you should do instead is to engage a highly interested community to partake in a more "fluid" marketing
conversation. We are launching Social Media soon, and we don't look forward topost any flashy sweepstakes. We will strive to gain the "like us" with "engaging content" and interesting editorial postings...
© Finextra Research 2013