The one brand that has clutched the beverage industry by its throat is Coca-Cola. Established almost 130 years ago, Coca-cola was introduced to the public as a medicinal beverage by pharmacist John Stith Pemberton. Today, the soft drink company has made a permanent place in the lives of the people.
The consumption of Coca-cola has been so rampant in some parts of the world that it has replaced water. Coca-cola distributes its products in over 200 countries across the globe. It became so popular that according to a 2005 report, of the more than 50 billion beverage servings of all types consumed worldwide, daily beverages bearing the trademarks owned by or licensed to Coca-Cola account for approximately $1.5 billion.
That’s not all. With over 86,200 employees scattered across the globe, Coca-cola has a net income of US$8.92 billion.
So, how did Coca-cola manage to sustain its name in the market for over one and a half-century? What’s the secret to Coca-cola’s everlasting success?
To unearth this massive puzzle, we need to dig deep into Coca-Cola’s iconic marketing strategy. Truth be told, Coke’s marketing is always noteworthy, exciting, and thought-provoking. Its unique take on branding has guaranteed Coke an excellent position in the market.
If you are a rookie entrepreneur and need good marketing tips, we have got you! And you should know how to exponentially grow your business, like Coca-Cola does.
Coca-Cola’s 4-marketing gimmicks for sure success
In the era of industrialization, where we see constantly changing marketing trends, one needs to come up with fresh ideas to stay relevant. But that doesn’t mean that it should override the need for consistent branding. Some aspects of your marketing ought to remain the same for the customers to feel connected to your products/services.
Sometimes, Coca-cola comes up with new campaigns to promote its product, but the core branding remains the same. Over the years, Coca-cola has maintained a similar script font for branding and its tell-tale red hue. This not only elevates the nostalgia factor, but also makes coke easily recognizable.
Selling the lifestyle
If you focus on Coca-Cola’s marketing trend, you would notice that more focus is given on the branding rather than the product itself. Coke is described as something that brings family and friends together, encourages sharing, and brings happiness, rather than a soda. Coca-cola sells a lifestyle, whereas other brands sell the product. That’s the major difference between Coca-cola and any other beverage brand.
Coca-cola has devised a smart plan to sell their product. They have understood that the consumers know what they want. So, their primary goal is to incite conversations and then “Act” and “React” to those conversations a year later.
Be a good storyteller
In a tight-knit community, consumers react well to issues that involve their interests. Coca-Cola has realized that to grow their business, they need to move on from “One Way Storytelling” to “Dynamic Storytelling”. So, stories must come from the consumers themselves as shared experiences and intimate conversations, making the conversations multi-faceted, engaging and spreadable.
If you ask me again, what’s the reason behind Coca-Cola’s immeasurable success? I would point towards its brilliant marketing strategy. Entrepreneurs need to understand the value of effective communication and personal branding.
Coca-cola would not have been a global success had it not marketed itself efficiently. From medicinal beverages to connecting lives- Coca-cola has done it all. Efficient human connections, investing in innovative ideas while remaining true to its roots, and personal branding made Coca-cola where it is today. So next time you grab a coke, maybe take some time to implement their marketing strategy in your brand. See how it works for you-concludes Business development expert Hirav Shah.