How Public’s Zachary Dioneda spun meme stocks into brand gold

When it comes to marketing strategies at stock trading app Public, Zachary Dioneda has gone against the flow—and that’s paid off with some meme-worthy moments. Check out the latest Ad Age events and award programs Dioneda is VP of brand marketing at Public, whose breakout moment came with a campaign rejecting “payment for order flow,” a form of compensation that had become a hot-button issue during the meme stock trading boom in early 2021. Everyday investors had revolted after learning that some apps and brokerages, including rival Robinhood, had used payment-for-order tactics that benefit “market-making” middlemen. Public ended use of the tactic and used the backlash against it to its advantage. “We partnered with Michael Bolton, and we actually had him spoof one of his songs,” Dioneda said, “and we made it all about payment for order flow. We used a really creative and fun way to talk about something that was really technical, and it absolutely blew up.” The Bolton spoof was for a campaign called “Break Up with Your Brokerage,” and the singer parodies his 1980s hit “How Am I Supposed to Live Without You.” Public created the ad from concept to production in about two weeks, Dioneda said, adding that Public had to move quickly to capitalize on the surge in interest in retail investing, sparked by the GameStop movement in early 2021. That’s when regular investors were congregating on the WallStreetBets subreddit to pile into stocks they thought could go “to the moon.” As a startup, Public does not have the same marketing war chest as some rivals and established brokerage firms, Dioneda said, so the company must get creative while also adhering to strict regulatory guidelines about how financial services companies can market their products. The meme-stock trend may have quieted down, but there is already nostalgia for it, including a new movie “Dumb Money” starring Paul Dano as Keith Gill, the trader who built a rabid following on WallStreetBets for predicting a GameStop stock turnaround. Dioneda is not letting Public miss the potential interest in the movie, either. Public will add $25 to any new account with proof of purchase of a ticket to “Dumb Money.” The promotion is not affiliated with the studio behind the film, Sony. Public also works with investment-minded creators across social media sites, including YouTube and TikTok. It’s also hyper-focused on customer acquisition campaigns to drive signups, Dioneda said. Public is launching new asset classes for investors and developing its AI assistant called Alpha, which is a conversational bot. See all of Ad Age’s Breakout Brand Leaders here Which entrepreneur do you admire the most and why? Virgil Abloh. I think what he was able to do, in a relatively short period of time (Abloh died at age 41 in 2021), was really impressive. He’s somebody who really shifted the ways we think about what art, design and luxury can be. It’s just clear, the respect and admiration that other people have for him, across sports, entertainment, design and business. I was lucky enough to meet him many years ago, probably in 2009 or so, and he was actually working on “808s & Heartbreak,” the album art for Kanye West (now Ye). I just remember even at that early stage before he became famous at all he just had a different way of thinking and a different way of talking. What’s currently on your bedside reading list? I haven’t started it yet but I’m gearing up to it, and it is one that will probably give folks in my industry a little PTSD, “The Antisocial Network” by Ben Mezrich. It gives an account of the GameStop trading days now featured in the coming movie “Dumb Money.” Aside from that book, I really enjoy historical nonfiction. What is the best career advice you’ve gotten? Don’t be afraid to do the work. First, it’s really important and also just clearly the way, to lead by example. You want your teams to know that you are the first person to get in there and get shit done. Also, deeply understand your business, and the goals of a specific objective. If you do have that full understanding it gives you that faith and grounding to make decisions, and you find creative ways to make things. Name one brand, other than the one you work for, that you admire. Stone Island is an Italian fashion brand. I’ve always been fascinated with U.K. subcultures, and even though it’s an Italian brand, it’s very much connected to the U.K. It’s been co-opted by many different subcultures over the years: by football fans; British rock bands in the 1990s and 2000s, with bands like Oasis; to current U.K. hip-hop. All these subcultures take it and make it their own and make it part of their identity. What is your secret weapon for business success? Understanding that relationships matter. It’s absolutely imperative to build trust with the people that you work with. In your organization, or with partners and vendors, you want people to want to work with you. And people want to work with you when they know they can rely on you to find a way to get the job done. See all of Ad Age’s Breakout Brand Leaders here

How Public’s Zachary Dioneda spun meme stocks into brand gold

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