But will it have long-term power?
When the International House of Pancakes (IHOP) tweeted a teaser acronym (IHOB) last month, it set off a guessing game about what the “B” could stand for. Turns out the 60-year-old chain is renaming itself the International House of Burgers—IHOB.
The popular breakfast destination known for its pancakes has made a bold move. The initial tweet resulted in the stock of its parent company, Dine Brands Global, Inc., to shoot up 30% to $80. Marketing experts credit the buzz on social media as the catalyst for the surge.
The attention on social media is worth more than money can buy. People jumped in to guess what the “B” meant weeks before its meaning was unveiled. That created momentum and a fun exercise for those who commented, whether positively or negatively. Wharton marketing expert Jason Riis says the sheer volume of talk about IHOP and IHOB is a fantastic win for the company.
Another expert, Henry C. Boyd, clinical professor of marketing at the University of Maryland, says the true test of social media effectiveness will be in the long term. The new focus on a lesser-known menu item, burgers, will broaden the perception of the restaurant as an option for lunch or dinner. No doubt social media will play an important part in the burger reviews.
For a more in-depth analysis of IHOB’s campaign, go to:
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