Coca-Cola is a brand well known for embracing technology. Coke is well-known for using social media to effectively hone into its target audience of millennials. “Known as the ‘always on’ generation, 71 percent of millennials engage in social media activity daily. With this generation being so active online, beverage companies have an opportunity to directly target this mass audience through social media”. Through its efforts, the brand has established a strong presence among social media platforms.
Rankings Provided by Engagement Labs (EL)
To further its efforts, Coke is bolstering its data strategy to increase its reach through its digital loyalty program called the My Coke Rewards program. “The goal is ultimately to dish up individualized discounts, tailor experiences by device and integrate the brand at the center of customers’ lives”. Coke is collecting information on behaviors it observes through social authentication. An example of this would be consumers using their Facebook or Google logins to access some of Coke’s owned properties and features. When the authenticated info is matched with word-of-mouth chatter, certain insights are form and helps improve the experience. Furthermore, Coke is building a cookie pool with Ensighten to serve as the basis of a device graph. Ensighten is used as a common tag management solution and interim data layer to help integrate Coke’s homegrown consumer database.
Coke does face challenges in regard to its data strategy. The first challenge is to measure digital marketing effectiveness and relate it back to purchase. The other and very important challenge is using data responsible and within the boundaries of privacy.