Earlier this year, Robinhood, the trading app, faced public backlash when it halted trading of GameStop following the stock’s Reddit-fueled rise. Yet while the seven-year-old investment company faced the challenge of explaining its position to customers, it also saw the benefit of an awareness lift.
“From a marketing perspective, our brand awareness was up significantly—people joined the platform and they’re still with the platform today,” says Christina Smedley, chief marketing officer, on the latest episode of the “Marketer’s Brief” podcast. “The macro point is finance is culturally relevant in a way that it hasn’t been before.”