While promotional periods can be a useful marketing tool for boosting the profits of a fledgling company, they can easily backfire. MrBeast's latest project, a chocolate bar company, has learned this the hard way.
Announced by MrBeast himself on his official Twitter account, an attempt to promote the new Feastables chocolate bar company by giving out free chocolate backfired and caused a loss of $1.3 million dollars. The promotion gave customers free chocolate and shipping when using a promo code, but only for a ten-minute window. It seems that MrBeasts' audience is far too large, as this window of time was long enough for many people redeem the offer.
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Feastables was announced by MrBeast in Jan. 2022 as another entry in the long line of companies and projects that the famous online content creator has done. The Feastables website explains that MrBeast desired to create a chocolate bar with organic ingredients, updated packaging and marketing, and transparent processing. It's still too early to determine if this company will last, but the loss of over a million dollars might not be the greatest start.
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Published: Apr 27, 2022 01:54 pm