Coca Cola may not be short of funds to spend on social media. They do however, have some vital lessons that even budget conscious SMEs can learn and apply. Coca Cola’s 2020 social media strategy isn’t all about money. It’s about people, storytelling and connectivity.
1. Cultivate Content Excellence
Coca Cola are moving from creative excellence to content excellence. You can do so too by creating dynamic stories that add value to consumer’s lives. Ensure that your content is edited and filtered so that only the best emerges.
Define your brand story. Coca Cola rejects traditional one-way storytelling and encourages you to spread your brand’s story across multiple channels.
The brand also encourages people to create their own content excellence. They share the best content they receive, offering people an incentive to create and converse.
2. Think Liquid and Linked
Generate and inspire contagious ideas that are so powerful they cannot be controlled. When crafting liquid ideas your mind should be clear. However, bravery is encouraged. Stories should be connected but remain so powerful that they can grow and spread alone as separate entities.
3. Embrace the Conversation
Coca Cola aim to provoke conversations through liquid content. They will then act and react to these conversations 365 days a year, 24 hours a day. While this is an unrealistic expectation for any SME with limited time and employees, it does give an indication as to how important customer conversations really are. Conversations allow Coca Cola to develop deeper emotional connections.
The conversation model can be seen in practice on Coca Cola’s Facebook and Twitter pages where each comment is replied to promptly and every customer interaction acknowledged. Most impressively, Coca Cola can and do converse through multiple languages.
4. Ration your Risk
According to Coca Cola 70% of your investment should be used to create low risk content and take up approximately 50% of your time. 20% can be used to engage more deeply with a specific audience. However, the scope here will still remain broad.
Finally, 10% of investment should be set aside for high risk content. Original and new ideas fall in to this category. You must be brave and take risk if you are to stay ahead of the competition. As Coca Cola say this need not be a big financial risk, nor should it acquire a large proportion of your time.
5. Re-assess Success
Coca Cola believe that consumers can follow you on Twitter or ‘Like’ you on Facebook but may never return to your website or interact with you again. The brand therefore, now measures expressions rather than impressions. When consumers take action by commenting or offering an opinion on a Facebook post, for example, this is viewed as a measurement of success.
For more information about Coca Cola’s exciting 2020 strategy take a look at the two videos below. Both are dynamic, creative and demonstrate the kind of content excellence Coca Cola so frequently allude to.