In 2010, Pepsi pulled its Super Bowl ads and invested $20 million into its Refresh project, which employed crowdsourcing to support good causes. It was an astounding social media success, with more than 87 million votes cast.
Unfortunately, as this Harvard Business School case study points out, it was an abysmal business failure and Pepsi eventually fell to third place in the soda category, behind Diet Coke. For all of the hype and hoopla on social media, sales suffered dearly.
Pepsi’s ambitions were far from unusual. Research by the Content Marketing Institute estimatesthat 90% of consumer marketers are investing in content. Unfortunately, most of those efforts will fail. In order to succeed, marketers will have to learn to think like publishers. That will mean more than a change in tactics or even strategy, but a starkly different perspective. Here’s what you need to do....
Via Jeff Domansky