Introduction
Coca-Cola is an American food company, export manufacturer, and supplier of concentrates, fibers, and soft drinks. The company’s most productive product is a soft beverage named Coca-Cola. As the company is a multinational giant, its advertising spending is colossal, with a large portion going to social media marketing. This paper will go in-depth into the social media marketing strategy of Coca-Cola, research its influencer programs, and measure how much it spends on social media.
The Coca-Cola Company’s Marketing Strategy in Social Media
Regarding social media presence, Coca-Cola has many followers on all popular platforms. On Twitter, the number of the company’s followers is 3.3 million people (Coca-Cola, n.d.a). On Facebook, the company currently has 1.2 million followers (Coca-Cola, n.d.b). Lastly, on Instagram, the corporation has 2.8 million people subscribed (Coca-Cola n.d.c). Thus, the social media presence of Coca-Cola is significant, numbering millions of followers worldwide.
With influencer marketing, the company has conducted effective campaigns to promote their products. One example is the “#ThisOnesFor” campaign conducted in 2019. Promoting the brand in Europe was the primary objective of this campaign. The company has made 22 sponsored posts and hired 14 influencers on the platform. All the posts included the hashtags #ThisOnesFor and @cocacola.eu, producing more than 173,000 likes and 1600 comments, making it one of the most popular hashtags on Instagram (Nahar, 2019). Thus, Coca-Cola leverages influencers to promote its brand in parts of the world into which it wants to expand more deeply.
Due to its scale and revenues, the company’s social media spending is significant, numbering in millions of dollars annually. However, if given 1 million dollars, I would assume that they would spend approximately 250,000 on social media, as companies allocate 25% of their advertising budget on average (How Much Should I, n.d.). The rest, 750,000 dollars, should go to other digital and traditional advertising means.
Conclusion
To summarize, Coca-Cola has an enormous presence on major social media platforms. With its vast number of followers on the most prominent social media platforms and clever influencer marketing programs, it can conduct effective branding campaigns, expanding its global influence. If the company is to continue this trend, it will achieve even more outstanding market share, brand value, and revenues in the future.
References
Coca-Cola [@CocaCola]. (n.d.). Coca-Cola [Twitter profile]. Web.
Coca-Cola. (n.d.). Home[Facebook page]. Web.
Coca-Cola [@cocacola]. (n.d.). IGTV [Instagram profile]. Instagram. Web.
Nahar, F. (2019). 3 Times Coca-Cola Nailed Influencer Marketing. Medium. Web.
How Much Should I Spend On Social Media Marketing?. (n.d.). Evolve Media. Web.