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Saturday, 6 June 2015

The Marketing Secret Coke Paid Billions For

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Hi again,

The Social Media Traffic Generation Masterclass is open for registrations until June 8 (along with the special rebate of USD 189 instead of USD 445) - if you haven't already: Check out the masterclass, now!

You think only newbie marketers fail? Quite the opposite. It's just that big brands can afford to pay a higher price for failure.

Back in the 80's, Coca Cola panicked. 

Their marketshare was shrinking. Pepsi's was growing.

So they decided they had to act. Marketers decided that Coca Cola had to act. And they did what many had done before them. They did what many marketers (and companies) did successfully later on and are still doing today.

In the words of the internet generation: They "redesigned" their product.

They tampered with the secret formula. One of the most secret formulas in the world. Their brand was built almost entirely on this secret - and they thought they could simply change it.

They released "New Coke". They stopped selling the original Coke. 

Nobody wanted it. 

People actually stacked up on the good old stuff and sold it at high prices on the black market.

Now, what went wrong? Didn't they do their market research? 

Actually they did. From their research, they should have had a winner.

So, why didn't they?

Here is the lesson they paid billions (yes! Billions!) for: Don't mess with your core values, your core brand, the characteristics of your product, otherwise you lose your customer cores. 

Don't make Coke taste like Pepsi (that is what they did). 

3 months later, Coke brought the original taste back. They learned their lesson. They paid money for it. Billions.

That's how much some companies are required to pay for marketing failures... By the way though - we would love it if you checked out The Social Media Traffic Generation Masterclass. It's a lot cheaper. :) 


Jonathan

PS: Here is some quick info about The Social Media Traffic Generation Masterclass. It's a 6-months training program showing you how to flood your website with tons of highly targeted and conversion ready web traffic from social media sites like Twitter and Facebook. 

Are you ready? 
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