While PepsiCo may be a multi-national company with more than a quarter of a million employees, it’s latest advertising campaign could serve as an example for small businesses in any country looking for ways to tap into new markets.
The project is straightforward enough. PepsiCo has asked consumers from around the world to make a 30-second advertisement for its ‘Doritos’ brand.
What’s the incentive? A total of $1 million, as well as the chance to have their advertisements shown to an enormous audience at the Super Bowl.
This is not only a fantastic opportunity for budding film-makers, but also an ingenious strategy on PepsiCo’s part to expand its consumer base.
Ann Mukherjee, senior vice president and chief marketing officer, PepsiCo’s Frito-Lay division, said in a September 12 statement that “incredible content has no geographical boundaries” – so, for the first time ever, PepsiCo has invited people from all over the world to take part in the competition.
This will give the company a better look at how far its influence extends, and could help PepsiCo with its strategic business planning in the future.
Many businesses, including those right here in Australia, are opting for interactive advertising campaigns such as this one.
Skittles, for instance, announced that it was launching an interactive website in June 2013.
This advertising campaign was created by a company in Sydney, according to AdNews, and enables consumers to play a game on the Skittles’ website and share their experiences with others online.
The best part of interactive advertising is it allows businesses to get much-needed feedback.
They’re not just sending their promotional materials out into the great, wide world and hoping somebody sees them.
Instead, they are engaging with their consumer base, and collecting valuable information about what sorts of people are buying their products and where.
This knowledge can be essential for small business planning initiatives. For example, PepsiCo could use the data it collects from the project to create properly targeted advertising campaigns in the future.
Small businesses could take a cue from their larger counterparts. Thinking outside the box and coming up with solutions that benefit several divisions within the business can improve everything from market penetration to customer satisfaction.
For small businesses, this could mean the difference between stagnancy and booming growth.