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“At Robinhood, we believe the financial system should be built to work for everyone.” At least that’s what it says on their website. Maybe watch their advert to see them reinforce this idea. They’re building a brand proposition. You should believe they’re on the side of the little guy. They promise to be for everyone. However, the recent restrictions didn’t align with their brand values. And people got angry. That’s why it’s so important to create a brand that your organisation can live up to, even in the hard times. Think about who you are and what your goal is at your core. Then, determine if the market you operate in will allow you to remain consistent.
Because Robin Hood’s brand values were so attractive, they easily built a tribe. Fans of the platform (prior to the ‘stonk’ market debacle) were honest about its drawbacks but had warm feelings for the brand. They bought into their ‘rob from the rich and give to the poor’ narrative. Many were open advocates for their software. But when they restricted trades, the Robin Hood mob bit the hand that fed and 1-starred their reviews on Google. Building a tribe is great. It gives you powerful advocates for your brand and great word of mouth advertising. But beware, fail to live up to your tribe’s expectations and you could be in for a world of hurt.
If you want to learn more about online branding, check out this page or speak to our helpful team.
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