Conagra Brands (NYSE: CAG) might use the power of Dogecoin (CRYPTO: DOGE) to help social media grow for its Smart Jim brand meat snacks.
Smart Jim and Doge: Dogecoin was mentioned in the company’s most recent earnings call. Smart Jim has built its online community on memes, making Doge and Dogecoin a ‘natural fit for our brand,’ CEO Sean Connolly said in the company’s recent earnings call.
“We have seen a market push in audience interaction, including direct involvement and advocacy of the person who created Dogecoin, as you can see on this slide,” Connolly said, adding that the company even saw direct involvement from the person who created Dogecoin created.
The use of Dogecoin memes has raised brand awareness for Slim Jim. The company mainly used Twitter (NYSE: TWTR) as a place to use Doge memes. The company’s Instagram account has 1.3 million followers and was active in the use of other popular memes outside the cryptocurrency world.
According to Twitter fans, Slim Jim has risen 160%. In a 25-day period, the company saw 35 million organic Twitter impressions, which is high for a account with 75,000 followers.
Smart Jim was crowned the champion of the 64-brand Adweek March Adness Bracket Tournament. It beats Doritos, Pepsi, Amazon, Wendy’s, M&M and Oreo in a showdown.
Related link: If you invested $ 1,000 in Dogecoin on January 1, 2021, that’s how much you would have now
Why it’s important: 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 Redenbacher’s, PAM and Udi’s Gluten Free.
Third-quarter sales for the company increased 8.5% year-on-year, higher than the company’s guidance. The company performed strongly in its grocery and snack business, which rose 10.8% year-on-year and includes the Slim Jim brand.
Several brands in the Conagra Brands portfolio penetrated strong market share gains and households in the third quarter. Sales of Slim Jim increased by 29.4% in the third quarter. This was the second best profit of the snack brands.
“We remain confident that each of our retail domains – frozen, snacks and staples – is well positioned to retain the benefits of the eating habits that consumers developed during the COVID-19 pandemic,” said Sean Connolly, CEO of Conagra Brands , said .
Some Slim Jim merchandise is sold out. The big question may be whether Smart Jim will use Dogecoin in full-scale marketing campaigns and on packaging and merchandise.
Benzinga reaches out to Conagra Brands for comment, but does not hear back.
Photo courtesy of Slim Jim Twitter Account.
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