Flight of marketing dollars to social media... is the SuperBowl starting a trend?
It's SuperBowl time and while corporate America is getting geared up for SuperBowl Sunday and the advertising extravaganza, Pepsi has taken a bold move. Instead of spending marketing dollars on SuperBowl ads, Pepsi has decided to launch a new initiative around social media marketing . The new initiative, called "Refresh Everything" is being promoted through Facebook and YouTube to connect with the fans and help the community. "Refresh Everything" is an innovative combination of (blogs)ideas and (polls)votes to fund great ideas through millions in grants. This is a monthly campaign where ideas can be submitted and voted for, all by the end consumers and fans.
It's interesting to see CPG firms using social media to engage with their customer base to increase brand loyalty. Marketing dollars moving from traditional media to social media... Is this the beginning of a trend?
Social media is a great 2 way communication medium and helps companies listen to the consumers. Companies can align their products and services based on this feedback and in turn increase customer engagement and brand loyalty.
Social media marketing certainly has some advantages. It helps
1. Target the right consumer base for maximum conversion through segmentation and engagement.
2. Increase brand loyalty among fans turning them into free advocates of the brand.
3. Achieve topline growth through quality leads given the advocacy viral marketing provides.
I think we are seeing the beginning of traditional marketing (based on product, price and promotion) being replaced by customer-centric marketing. What better horse to ride on than social media and start a whole new trend.
What do you think?
Comments
I think now all the companies are thinking of philanthropic marketing.
Coca Cola: http://mediadecoder.blogs.nytimes.com/2010/01/27/coca-colas-super-bowl-ad-plans-include-social-media/
Audi: http://www.dmnews.com/audi-adds-social-media-to-super-bowl-green-police-spot/article/162515/
Unilever: http://www.nytimes.com/2010/01/21/business/media/21adco.html
Question is: Can it be considered ethical?
Posted by: Manish | February 1, 2010 9:33 AM
JPMorgan Chase did that with a Facebook group. Many people whom I asked felt good about that campaign. They felt the philanthropic money is now well spent. Philanthropy was not new for these corporations, just that now they spend it as their customer wants. Makes sense, doesn't it?
I think it will be a key differentiator in saturated markets.
Posted by: Senthilnathan | February 11, 2010 3:29 PM