Source: http://blog.flite.com/home/2012/4/4/coke-moving-from-creative-excellence-to-content-excellence.html
Here is a summery of the Video and the article I read
Even though this was only a video depicting coca colas marketing strategy, it has in a way depicted just how big a change social media has brought into the mass marketing playground. Before, marketing was an influence, an ideology, a process highly controlled and carefully crafted, but now with the emergence of the social space, consumers are no longer on the isolated islands, and word of mouth is able to launch products successfully."Coke no longer believes that creative alone will reach the target customers. With greater connectivity and an always on culture, consumers expect to converse and engage with brands rather than simply watch clever 30 second TV spots.The videos highlight the following key insights:
- Iterative Production Processes replace "Finished Creative"
- Brands need to produce much more content than ever before and invest in a serial, iterative stream of content that connects, engenders participation, and spreads
- Coca Cola is focused on serial story telling and the ability to launch campaigns and to then produce content AFTER the campaign is in market
- Coca Cola is moving to agile content strategies
- Radically reduced testing of message, content, and user feedback
- Increased investments in direct vendor relationships with technology companies that enable automation and real-time execution
- A creative focus on curation and editorial; Coca Cola will filter the stream and incorporate on-strat egy content in campaigns"
As the article point out
"Its too hard to bet on creative excellence in a world where Twitter, FB, UGC produce more content than ever before. Coca Cola's strategy makes clear that the new model of marketing is content marketing and a shift from creative execution to content curation, publishing, measuring and monitoring, and agility. "
this is a space where traditional powers are not able to control and shape as they did before. It could be both an opportunity and a threat to most of the commodity products, and it seems that coca cola has embraced this opportunity.
Great summary of Coca-Cola's "Liquid & Linked" Communications Vision! As someone who works in Marketing Research at The Coca-Cola Company, I can help add some texture around the video you shared.
ReplyDeleteThe video is definitely more aspirational than factual, given that the vast majority of Advertising & Communications dollars are still spent on managing creatives (TV, Print, Radio, Billboards, etc.) before launch and not on allowing crowd sourced content to mold itself in real-time through social/digital channels.
It is the dream of every marketer to be able to obtain real time feedback (data) and cater to the unique needs of every consumer. However, the fact is that when a company is serving billions of consumers day in and day out across every country in the world (like Coke is), that company needs some means of ensuring that there will be consistency in the consumer's brand experience.
CPG (Consumer Packaged Goods) is a tricky area as a whole in terms of digital's ability to influence the broader landscape of marketing, because so much of the product's billions of dollars in sales are driven by the sheer fact that 1)a product is available (distribution), 2)a product looks appealing (packaging) & 3)a product delivers a consistent brand experience (full flavor, refreshment, triggers happy thoughts), & 4)a product is worth what it costs (price-value).
This is not at all to discount the fact that digital/social is and will continue to be an increasingly important part of a brand's strategy, but in CPG (at least for now), it seems that social is still very much about control - i.e. managing conversation around the brand - than it is about actually utilizing the power of "liquid" crowdsourced knowledge to cater to a consumer's unique needs.