Super Bowl, Robinhood ser skips the Super Bowl, and Robinhood’s reputation takes a tumble
This week’s miss is investment app robinhood. If you haven’t heard last week, the company reacted to a reddit fueled frenzy over stocks like gamestop and amc by limiting the trading of those companies on its app that led users to accuse the company of protecting the institutional investors who are losing money on those surges. In fact, a hedge fund that’s, a major investor in robin hood, was losing money further sparking accusations that the company was shutting out small investors in order to protect the big guys. Not a good look for a brand that touted itself as a tool to bring the riches of the stock market to everyday people and it’s, pushing that same message during sunday’s big game with its first ever super bowl ad obviously made before all this unplanned gamestop action. Now the notion that this last week was going to kill the robin hood brand is an obvious exaggeration. In fact, according to a jmp securities analysis, more than 600 000 people downloaded its app on friday. The high point of the gamestop saga compared with 140 000 on its best day in march, the gamestop story was big enough that even other brands were trying to cash in on it. This isn’t a new phenomenon back in 2015, the volkswagen emissions scandal in which the company admitted it used illegal software to cheat emissions tests. The brand’s reputation took a dive and sales decreased, but by 2017 sales were back up still robinhood’s lack of transparency and communication breakdown and how it directly impacted the product and how its most ardent fans use.
It shouldn’t be brushed aside too quickly. Back in 2017, robin hood, co founder vaijubat, spoke to past company about the role that brand image plays and how young people want to invest their money. A tesla driver wants to buy tesla stock, a budweiser drinker wants to buy abm bev stock. An apple fan wants to buy apple stock. Ultimately, it’s got added awareness that will increase downloads, but it’s also downgraded itself and its customer loyalty levels from being a potentially category dominant cult brand to just another company. This week’s hit goes to budweiser or more specifically, bud’s parent company anheuser busch. On january 25th, the company announced that its flagship, u.s beer brand would be skipping the super bowl for the first time in 37 years, no majestic clydesdales, no puppy, pals, no wassup frogs or the 2021 equivalent of those iconic ads. Instead, budd is donating some of its 2021 advertising budget to the vaccine, awareness work being done by the ad council and covet collaborative budweiser. Vice president marketing monica ruski said in a statement quote like everyone else, we are eager to get people back together, reopen restaurants and bars and be able to gather to cheers with friends and family to do this and to bring consumers back into neighborhood bars and restaurants. That were hit exceptionally hard by the pandemic, we’re stepping in to support critical awareness of the covet 19 vaccine. A great cause let’s be clear, though this isn’t as major a move as it may first appear.
Bud’S parent company still has about four minutes of ad time. On sunday, which you’ll use to tout siblings, like mickelob, ultra and bud light, the extensive media coverage of bud’s absence has been worth about as much as if it had bought its usual allotment of super bowl. Ads cnn even put together a best of compilation of all the brand’s past super bowl hits meanwhile bud light is definitely in the game with a fun spot that brings together some of its past big game ad stars like post malone, the bud knight and the real Men of genius singer, even the parent company, is running its first ever corporate super bowl ad. That examines the emotion and psychology behind that most human of phrases. Let’S grab a beer by making itself the story ahead of the game. Anheuser busch actually ensured budweiser wouldn’t get lost in the wave of ads scrambling for our collective attention. During the big game, the company gets the message out that it cares about covet 19 relief and vaccine awareness, while still leveraging the game’s massive reach for its other brands.