Coca-Cola is sipping a bit slower after sales in Q2 drop 28 percent from last year, causing the company to take a harder look at its marketing efforts.
This follows Coca-Cola’s CEO James Quincey pausing marketing campaigns. This move just maybe Coke’s downfall.
The company last month announced a 30-day suspension of social media advertising and said it was too early to determine how long the pause will last.
Pausing marketing campaigns to save money is a trick many businesses and companies attempt to make.
However, this is NOT what you want to do.
In Marketing During a Crisis: Leaving Your Comfort Zone, VIP Marketing breaks this all down.
Coke is also feeling the negative effects of pandemic lockdowns on out-of-home venues like restaurants, theaters, and sports stadiums, CNBC reported.
In hopes of rekindling their market, Coke has also turned to digital marketing in hopes of keeping its brand alive.
Coke did this by appointing a global VP of online digital transformation.
Coke is continuing to adapt to the pandemic lifestyle in several ways, including a greater emphasis on contactless drink dispensers.
The goal? To refresh without ever having to touch the Freestyle machine.