Customer Analytics behind Coca-Cola’s legendary success
Published by: Pritee Verma
The Coca-Cola Company is a prime example of a business that’s built on customer analytics and intelligence, taking every opportunity it can to reassess pretty much every aspect of how it operates. One of the main reasons why Coca Cola has remained at the top for over 130 years is its ability to embrace innovation and new technology, including customer analytics. From production and distribution to sales and customer feedback, the company relies on a solid data-driven strategy to inform business decisions at a strategic level.
Here’s what Justin De Graaf, Director of Data Strategy and Precision Marketing at The Coca-Cola Company, says on why data is vital for FMCG brands to thrive.
Data plays an increasingly important role in marketing and product development. Consumers do a great job of sharing their opinions with us – either by phone, email or social networks – that allow us to hear their voice and adjust our approach. We often talk about why we have two ears and one mouth – it’s better to listen more than we speak. This holds true with our approach on consumer input. Data is also helping us create more relevant content for different audiences. We want to focus on creating advertising content that speaks differently to different audiences. Some people love music. Other people watch every sport no matter what time of year. Our brands are already visible in those spaces, and we’re working hard to use data to bring branded content that aligns with people’s passions.
With digital footprints of customers, social media and other communication channels on rise the amount of data generated about customers increases every day. To encash the opportunity of increasing customer information, Coca-Cola has a clear cut customer data strategy. It takes every opportunity to collect information about its customers, and then analyse and inform themselves to better connect with its consumers. Customer insights help take decisions and actions to increase consumption of its existing line of products, as well as “upsell” new products. It also helps improve its organisational structure to cut down on overtime costs and increase revenue.
In 2012 their chief big data officer, Esat Sezer, said “Social media, mobile applications, cloud computing and e-commerce are combining to give companies like Coca-Cola an unprecedented toolset to change the way they approach IT. Behind all this, big data gives you the intelligence to cap it all off.”