Conagra brands (NYSE: CAG) could use the power of Dogecoin (CRYPTO: DOGE) to expand social media for Slim Jim branded meat snacks.
Slim Jim and Doge: Dogecoin was mentioned in the company’s recent call for profit. Slim Jim built his online community around memes, and that makes Doge and Dogecoin a “natural fit for our brand,” said CEO Sean Connolly in the company’s latest call for earnings.
“We saw a surge in the market in terms of audience interaction, including direct engagement and advocacy from the person who created Dogecoin, as you can see on this slide,” said Connolly, adding that the company was even direct Seeing commitment from the person who created Dogecoin.
The use of Dogecoin memes increased Slim Jim’s brand awareness. The company has mainly used Twitter (NYSE: TWTR) as a place to use doge memes. The company’s Instagram account has 1.3 million followers and has used other popular memes outside of the cryptocurrency world.
According to the company’s third-quarter presentation, Twitter followers for Slim Jim were up 160%. In 25 days, the company had 35 million organic Twitter impressions, which is high for an account with 75,000 followers.
Slim Jim was crowned champion of the Adweek March Adness Bracket Tournament with 64 brands. It beat Doritos, Pepsi, Amazon, Wendy’s, M&M and Oreo in head-to-head fights.
Related link: If you had invested $ 1,000 in Dogecoin on Jan 1st, 2021, you would now have this
Why it matters: Conagra Brands has a large portfolio of well-known food brands such as Duncan Hines, Healthy Choice, Hunt’s, Reddi-Wip, Vlasic, Bird’s Eye, Orville Redenbachers, PAM and Udi’s Gluten Free.
The company’s sales rose 8.5% year over year in the third quarter, exceeding company targets. The company had a strong performance in the grocery and snacks business, which was up 10.8% year over year and includes the Slim Jim brand.
Several brands in the Conagra Brands portfolio saw strong market share gains and high household penetration in the third quarter. Slim Jim’s revenue increased 29.4% year over year for the third quarter. This was the second best win among the company’s snack brands.
“We remain confident that each of our retail domains – frozen, snacks and staples – are well positioned to sustain the benefits of the eating habits that consumers developed during the COVID-19 pandemic,” said Sean Connolly, CEO of Conagra Brands .
Some Slim Jim merchandise is out of stock. The big question could be whether Slim Jim will use Dogecoin in large-scale marketing campaigns, as well as on packaging and merchandise.
Benzinga asked Conagra Brands for a comment but didn’t hear back.
Photo courtesy Slim Jim Twitter.
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