Coca-Cola may have far more budget and resources than most companies. One of the key parts of the Coca-Cola approach to media is the use of three domains: paid (advertising), earned (social media), owned (brand events, sites) that in many cases overlap.
As Wendy Clark, SVP of Integrated Marketing and Communication for Coca-Cola will tell you, media is viewed as paid, earned, owned, and shared.
This is not at all unique to Coke, but certainly sets the stage for understanding how the company views and segments its overall marketing. Read more here.
In past decades, earned media would primarily have been seen as “stories in newspapers, magazines, on radio or TV.” Notice the change: all the “earned” exposure is earned on social media.
Coca-Cola’s concept of “liquid” means the company’s content is produced in a framework of dynamic storytelling that has a natural affinity to go to the furthest points possible. They are thinking strictly in terms of how the content they produce will be shareable, how it will relevantly flow across networks, cultures, and personal touch points.
Also, part of the thinking is profoundly social, in the sense that brand advocates are among the desired outcomes. Joe Tripodi, EVP and Chief Marketing Officer of Coca-Cola, says that “awareness is fine, but advocacy will take your business to the next level.”
“I used to think that loyalty was the highest rung on the consumer pyramid until I became the CMO of Allstate Insurance,” he says. “There, I saw clearly that so much business was driven through personal referrals and advocacy by individuals for their agent.”
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