According to a recent announcement by Daytona Nissan, the dealership accepted Dogecoin payments up to February 12, 2021. The dealership decided to begin accepting the cryptocurrency after one of the company’s young IT workers suggested that they hold a Dogecoin promotion.
Dogecoin Payments & Leadership Thoughts
While speaking to a local media outlet, the co-owner, and general manager at the dealership admitted he knew very little about cryptocurrency. Kendall Garrison added,
“I mispronounced it several times and was promptly corrected.”
According to Garrison, he initially mispronounced it as “dogcoin” before he was informed it was Dogecoin. The dealership had been promoting the crypto coin during a three-day promotion between February 10, 2021, and February 12, 2021. According to the owner, the response was overwhelming. The dealership’s online traffic saw a 6000% spike. Additionally, the announcement was shared on Facebook over a thousand times in the first hour.
Details Of The Promotion
To limit the initial risk, the dealership only accepted up to $5000 of the vehicle’s purchase price in Dogecoin. Garrison added that they were accepting Dogecoin payments through a new crypto wallet they established. The Dogecoin they received would then be converted into USD.
They enjoyed some success with the offer. According to a local media report, one buyer by the name of Ricardo Santiago bought a Nissan Sentra using Dogecoin once he saw the ad. Santiago said that he thinks crypto is the “wave of the future.”
According to Santiago, he mainly purchased the car in Dogecoin to support the campaign. Santiago has a high conviction in Dogecoin long term and valued the dealership’s decision to offer something of this magnitude.
According to Garrison, businesses were always on the lookout for a way to get an edge over their competitors. For the dealership, Dogecoin gave them the edge for a bit. The general manager noted that the promotion had turned out to be a huge advantage for them and gave them a lot of exposure. In the future, the Dayton Nissan dealership will consider holding a similar promotion.
The Implications
The dealership’s promotion was undoubtedly a great opportunity for their marketing team to capitalize on the week’s crypto trend. However, this successful promotion could help develop a genuine interest in cryptocurrency long term.
No doubt, other similar businesses will seek to hold similar promotions to gain some extra exposure. In the future, it could translate into a genuine interest in crypto once businesses discover how convenient it is to pay with digital assets. Despite this happening at the car dealership level, the market is seeing a slow transition into global acceptance. As recently reported, giants like Mastercard plan to roll out extensive support for crypto payments in 2021.
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