By now, you might have heard about the little wager Jordan's Furniture made with its customers: If you bought furniture from them during a specific window last April, and the Red Sox won the World Series, you would get your purchase refunded!
Well, the Red Sox won, and now the company has to make good on their promise. This will pay huge dividends. First, the company purchased an insurance policy to cover the cost of the furniture. Multiple reports pin the number of customers who participated at 30,000 and analysts figure it had to cost at least $15 million. (Jordan's Furniture is owned by Berkshire Hathaway.)
But most importantly- the PR generated for this company has been enormous. Let me link you to a handful of sites that came up on a Google search earlier tonight:
ABC News: Free Sofas for Sox Fans
The Canadian Press: Thousands of Sox Fans Sitting Pretty
Bloomberg: Berkshire Hathaway Store Giving Away Free Furniture to Sox Fans
USA Today: Red Sox Win Leaves Furniture Buyers Cheering
WCVB-TV (Boston): Sox Win Means Free Furniture for Thousands
Boston Herald: Free Furniture Sits Well with Faithful Fans
The "Blogosphere" is abuzz with this too:
BloggingStocks.com: How much will Warren Buffett pay for betting against the Sox?
Bostonist: Did You Participate in Jordan's Furniture Monster Deal? Time to cash in!
Weighing the Odds: Free Furniture for Red Sox Fans
The Nault Journey: Crazy Weekend!
Business of Baseball: Now Free Couches?!
Philly Burbs: Sox Win Gives 30,000 People Free Furniture
How Not to Get a Job in Advertising: Jordan's Accounce, 'They Are Cheap'
...and it just keeps going.
The company did a good job working the press: they offered up the clips of the TV ads with the original wager, allowed the news into the stores and let reporters talk to lucky customers. They played it just right.
This is a PR coup. Nuff' said.
Monday, October 29, 2007
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