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Coca-Cola’s digital marketing success and growth strategies: Insights from Q4 2023 earnings report

ConsumerGeniuses

ConsumerGeniuses

Coca-Cola emphasised its digital marketing shift and the impact of its StudioX digital ecosystem during its Q4 and 2023 earnings report. CEO James Quincey highlighted a 7% net revenue growth for Q4 and 6% for the full year, attributing the success partly to the company’s transition from a TV-centric to a digital-first marketing approach. With around 60% of media spending now digital-focused, StudioX facilitates the creation of contextually relevant content in real-time. Initiatives like Coke Studio in Pakistan have yielded impressive results, attracting Gen Z consumers with over 1.2 billion YouTube views and 100 million music streams. Coca-Cola’s brand value surged by $8 billion, ranking it the tenth most valuable globally. The company’s holiday campaign and AI-based platform also contributed to significant social media impressions and growth in volume and value share. Quincey views new products like Coca-Cola Spice as part of a strategy to reengage consumers and drive category growth globally.

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