Stormhoek. A social media "loan"...
From the original Biz-Community article by Eve D.
If your company's outsourced contractors were in a R6 million financial crisis due to no fault of their own, and you wanted to help them out, who would you turn to for help? If you are Stormhoek winery, you dodge the bank manager and turn to your biggest fan club – your customer base.
Stormhoek has been making marketing waves ever since, in 2005, it used the blogosphere to promote its product. In the tough wine sales industry, where even the biggest market share owner only owns 2% of the market, local Stormhoek reputedly grew its UK sales six fold to 300 000 cases per year. All this, on a mere US$20 000 annual budget, which is only about R15 000 per month. Not bad for a local brand with global recognition.
What an innovative idea. Read Eve's full article for details - but the jist of it - is using a viral / social media campaign to ask for a "public loan" to bail Stormhoek out of supplier difficulties. Loan to be repaid with interest. Like buying your own personal vine. What an idea.
I'm thinking about it! Do your bit to spread the news. Digg it here. Visit Stormhoek here.