Coca-Cola, one of the most iconic consumer brands in the world, is not surprisingly one of the most popular and active brands on social media. In fact, with more than 62m ‘likes’ on Facebook, it’s the most popular brand on the world’s largest social network.
But in looking at the online chatter that takes place on social networks, Coca-Cola has come to a startling conclusion: there’s essentially no impact on sales.
According to Eric Schmidt, Coca-Cola’s senior manager of marketing strategy and insights: “We didn’t see any statistically significant relationship between our buzz and our short-term sales.” Ouch.
Game over for social media?
Skepticism over social media ROI isn’t new. At least some of that skepticism has been driven by the difficulties associated with measuring social media ROI in the first place.