Coca-Cola explained its mission to offer shared value as a way of creating enduring love and brand advocacy for an expanded network of influencers - not only shareholders and stakeholders within the company, but a whole range of Coke's customers.
Joe Tripodi, EVP and CMO, explained that he believes this is the only way that the brand believes it will achieve its 'Vision 2020' - the brand's goal of doubling its business in a sustainable way.
Engage a broader universe of stakeholders
Coca-cola uses mass and niche targetting to provide a narrative that people can be part of - and engage with at various levels of participation. Tripodi explained: 'Conversations with the few fuel conversations with the many.' He added 'If we engage the market with strong content, wired networked individuals will now participate in our story.'
Create authentic content
While the value of a click is often questioned, Tripodi sees impressions leading to expressions, and ultimately conversions. He showed Project Connect, which prompted a significant reconsideration of the brand in Australia.
Develop innovative partnerships
Tripodi explained that innovative partnerships can engage the market, such as Coca-Cola's partnership with Spotify - based on the insight that music is the number one passion point for teens around the world - and an NGO partnership with WWF which included turning the brand's iconic red cans white. This partnership, according to Tripodi, was rooted in earned and owned media, maximising opportunities for people to engage.
Other opportunities for partnerships include collaborating with value chain partners to drive innovation. Tripodi sees strategic collaborations as having the potential to drive innovation, not only in terms of the product, but across the company - in packaging or consumer engagement, for example.
'Losing relevance is the worst thing that can happen to a brand,' Tripodi stated, highlighting Coca-Cola's sponsorship of the upcoming Olympic games in London as a key opportunity for the brand to create shared value, not only in London, but for viewers of the games around the world.
Deliver shared value
'When we do our job well as a company, creating interesting content, our networked consumers spread the message for us.' Tripodi and Coke believe that taking a content-focussed approach and delivering shared value to all involved in producing and consuming a product will offer the brand a networked advantage 'in a world where mob rules'.