A few years ago, The Coca Cola Company started having a more open business model. Since then, we have all witnessed great advertisements and promotions of the company. Furthermore, a few years ago, The Coca Cola Company, in cooperation with MOFILM, started making contests about making videos, which included the perfect moment with Coca Cola.
I find this example to be one of the most fun one’s considering how good some of the videos from the previous winners were:
But, to get back into the topic of our course: this contest is a very good example of crowdsourcing.
Starting with the fact that The Coca Cola Company made a contest with a monetary reward for the best video. In addition, they added production grants for the videos. From the perspective of the participants and regular people, contests like this one will allow them to have fun and possibly win money for that. And on the other hand, from the company’s perspective, they will gain free advertisement and promotion among the people that are voting and watching the contest and for a small amount of money for such a big company a good video to use for their future marketing.
To conclude, this is just another small part of how Coca Cola sells and promotes its products and how a small investment combined with modern technologies can quickly spread the word about a company and its products.
I like this example of cloud sourcing, because I love Coca cola, as a drink, and a company.
From marketing view, It creates a lot of amazing campaign and related activities surrounding the theme “Happiness”, it is said that when people blind taste Pepsi and Coca cola, they usually select Pepsi for better taste. However, thing goes just the opposite when they do it by revealing the brand, which they think Coca cola tastes better now.
The contest you mentioned is a smart move for Coca cola. By rewarding participants with money and glory, the company draws even more attention than paying more for a TV commercial. I think the power of crowd is more than giving ideas or opinions, but also spreading information (especially those which seem to be interesting) rapidly, which benefits a enterprise A LOT.