The rise of interest in Dogecoin (CRYPTO: DOGE) and the motto “Do Only Good Everyday” has led to new influencers in the cryptocurrency space. The passionate community around Dogecoin has also led to companies accepting the meme crypto as a payment option and launching new products featuring Dogecoin.
What Happened: Axe, a top selling deodorant brand from Unilever PLC (NYSE:UL), launched Tuesday a limited release of DogeCan. The deodorant cans featuring the Dogecoin Shiba Inu quickly sold out (no cost), which led to Axe’s website saying “much disappointment” to those not lucky enough to place their order.
Axe teased the release of DogeCan previously and at one time said it would release the deodorant if the cryptocurrency reached $1.
“The overwhelming response from Axe fans and Dogecoin enthusiasts blew us away and in turn, decided that created a limited drop of Axe Dogecans was something we wanted to do for both Axe and Dogecoin loyalists,” said Axe Brand Director Mark Lodwick.
Axe sent DogeCans to many leading Dogecoin influencers, which helped increase the brand awareness of the deodorant company and led to #DogeCan trending several times this past week.
See Also: How To Buy Dogecoin
Why It’s Important: Unilever is one of the largest consumer products companies in the world covering the business segments of food and refreshments, beauty and personal care and home care. The company has 14 of the top 50 global consumer brands and 81% of the company’s brands have a no. 1 or no. 2 market share position.
The launch of Dogecoin could follow the success of Slim Jim, a brand from Conagra Brands (NYSE:CAG). Slim Jim grew its Twitter Inc (NYSE:TWTR) followers by 160% in a short period of time thanks to focusing on Dogecoin-related memes.
Slim Jim had 75,000 Twitter followers when Benzinga wrote about the brand the first time in April and now has over 165,000.
Axe has over 135,000 followers on Twitter, which comes after the brand saw its followers dip 7% from around 135,000 to around 121,000 in 2020 over a three-year period. Business of Business reported Axe saw less mentions on Facebook in the three-year time period.
Axe brought back the Axe Effect tagline for a marketing campaign targeting Gen Z customers earlier this year after abandoning it five years ago.
A campaign called #GetAxeinated and #vaccinesarehot connected Axe with the COVID-19 vaccine campaign that saw the brand get several positive media mentions.
Perk Up: Unilever saw a drop in the growth of its deodorant business in the first quarter with year-over-year growth of 5% compared to double-digit growth in three of the four quarters of the previous fiscal year.
Slim Jim’s boost in social media followers and mentions translated into strong sales of the product and Dogecoin even getting a mention in the company’s earnings call.
Axe’s launch of DogeCan could be a great marketing example of embracing a strong following and translating it into sales, which companies could study in the future.