Don’t get fooled
How to spot corporate jokes on April 1
It’s that time of year again — April Fools’ Day is around the corner with investors waiting to see where the first joke will land and whether anyone will fall for it.
Will it be via an X post? Or a company statement? Or a video message?
From TGI Fridays Inc. announcing that its chief executive officer will step down to join the circus to Volkswagen AG’s purported name change to “Voltswagen” in the U.S., what’s meant to be a fun ploy to bolster a brand runs the risk of turning into a flop.
“For every brand giggle there’s a corporate communications disaster waiting to happen,” said Laura Price, a partner at consultant Pagefield. “Humour should not be delivered by corporations and boardrooms.”
Still, “when it is done well, which is extremely hard in a saturated market, the April Fools’ can still land a powerful PR punch,” she added.
There’s a gamut of pranks that companies could unleash on April 1, and even in the days leading up to it. While one can’t predict the next prank, here are some ways to not get fooled:
Disclaimers
Try looking for a waiver if something seems off on a press release. On April 1, 2021, TGI Fridays released a statement saying its CEO Ray Blanchette will be stepping down to pursue a career as a circus “high-wire artist.” The press release included this disclaimer: “Of course, only the most observant will notice that April 1 is also April Fools’ Day.
While this is just a prank, TGI Fridays respects the profession of high-wire artists and firmly believe everyone should follow their dreams.”
Startling branding move
Here’s one that raised eyebrows, drew the attention of U.S. Securities & Exchange Commission and got some backlash from the investment community.
On March 30, 2021, Volkswagen of America put out a media release pledging to rebrand itself “Voltswagen” as “a public declaration of the company’s future-forward investment in e-mobility.” The automaker fessed up later that day it was done in the spirit of April Fools’ Day.
It was still dealing with the investor fallout two years later.
Bizarre claims
While the “Voltswagen” joke may have gone too far, there are others that are just plain peculiar and unreal.
On the day in 2019, Alphabet Inc.’s Google said it found a way to understand tulips in its natural language called “Tulipish.” It claimed it was able to allow translation between Tulipish and dozens of human languages through “great advancements in artificial intelligence.” Predictably, no one really fell for it.
A year before this, Netflix Inc. said it purchased celebrity Seth Rogen, adding he had entered into a lifetime deal to transfer full ownership of his mind, body and soul to the streaming company.
In 2017, Burger King said it had created a Whopper toothpaste. It even had a spoof commercial promising to “keep your breath Whopper fresh longer than ever.”