The world of communication is evolving at a fast pace. In the past we needed premium advertising to create consumer impressions. Today consumers are much more empowered. You need to communicate with them. We have more than 33 million fans on Coca-Cola facebook page – the largest facebook page of any single brand – and it wasn’t even created by us. You still need advertising, but that’s just part of a dialogue………
…….you have to understand consumers> they would like to be heard. It,s a question of cocreating content. Five years ago social media was 3% of our total media spend. Today it is more than 20% and growing fast.
What’s the value , exactly, of those 33 million Facebook fans?
The value is you can talk with them. They tell you things that are important for your business and brands. Today consumers are buying products not just for the quality but also because they believe in the character of the companies that produce those products.
We have a simple belief inside Coca-Cola that if we can’t help create sustainable communities where we operate, we won’t have sustainable business. It needs to be embedded in your business as opposed to inserted in your corporate social responsibility report.
– Mukthar Kent HBR Interview ‘Shaking Things Up at Coca Cola’