► After many years as a marketer, I’m no stranger to navigating a crisis. But the current one is uncharted territory. In a matter of weeks, the coronavirus pandemic upended life as we knew it, forcing major behavioral shifts and accelerations in consumer trends.
PepsiCo is a company with 280 different brands under one umbrella. As a marketing team, our mission is to build intimate, direct relationships with billions of people and bring our brands to life through those interactions. When billions of people’s lives change dramatically, our job is to adapt and figure out how to best show up.
So having a flexible and measurable video marketing strategy has never been more cash app database critical, for PepsiCo or any company. But achieving it isn’t easy.
When the lives of billions of people change dramatically, it's our job to adapt and figure out how to best show up.
For a few years now, my team and I have been working to gain a more holistic picture of our marketing and its impact by investing in new tools, technology, and organizational change.
As immensely challenging as the past few months have been, the changing needs of our consumers and continue to deliver efficient impact across all of our brands globally.
We know we still have work to do, but we are confident we are on the right path. Below are three lessons we have learned that I believe other global brands can find useful.
3 line-drawn icons representing the three concepts: 1. Transform how you measure, 2. Adopt global norms, 3. Adapt a test-and-learn mindset ► 1. Transform your way of measuring
At the foundation of everything we do is a new measurement approach based on an internal system we built called the ROI Engine. It has helped us reinvent the way we use the marketing mix model (MMM) and get a clearer picture of how campaigns impact business outcomes in our key markets.
Here’s how the ROI Engine works: we automate everything we can—like data entry, processing, and algorithm execution—to create standardized results.
We then use machine learning to synthesize more inputs and create richer models that give us better results and, naturally, more actionable insights.
So now, instead of evaluating performance once a year, we can see how it’s changing as often as our business demands. The more we do this and the better we get at it, the more we understand the impact of all our media.
We’re also focused on measuring video results, particularly getting a clearer view of how TV reach compares to digital video reach. To do so, we also occasionally rely on Nielsen Total Ads Ratings (TAR) studies in the US and its market equivalent in other countries.
