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As the new year begins, PepsiCo Beverages ramps up its video marketing efforts to better reach shoppers in an increasingly fragmented context. To that end, the company and its brands his portfolio diversify its media mix with several video advertising platforms, especially streaming.
“You have to scale to sell a lot of products,” said Katie Hanniffey, senior director of media strategy and investments at PepsiCo Beverages. I’m trying to figure out how to navigate it.”
According to Haniffy, Pepsi has a holistic video strategy that includes linear TV, live sports spots, streaming, social media, digital video and connected TV. When it comes to social, she added that Pepsi is leaning more into influencer marketing and that she’s working to “establish the necessary metrics to measure against other platforms.” I was. This year, Pepsi plans to invest more in video advertising to reach consumers across multiple platforms, whether social or video.
The streaming wars have intensified in recent years, with NBCUniversal, HBO, and many others rolling out their own platforms and vying for viewership to compete with the likes of Netflix and Hulu. This competition has created a fragmented media landscape, challenging brands like Pepsi to find the most cost-effective ways to attract and retain consumer attention.
“We are trying to understand the next evolution of our overall video strategy,” said Haniffy. “This includes streaming many of his platforms, as well as managing costs.”
That makes first-party data more important to Pepsi. Especially at a time when Google plans to end support for third-party cookies, and third-party data is scarce. This means 2023 will be a year of testing and learning for Pepsi through its loyalty program, sweepstakes and other efforts to gather enough data to inform the company’s marketing and advertising strategy. .
It’s unclear how much Pepsi’s new investment in video advertising will be, as Haniffy didn’t provide specific details. Of Pepsi’s portfolio, about $63 million in advertising dollars will be spent on Pepsi beverage brands from January to September 2022, according to Kantar. That number is down significantly compared to his 2021 same period, when the company spent about $103 million. Meanwhile, Pathmatics reports that Pepsi’s ad spending from January to November 2022 was $23.4 million, not far from his $29.5 million the year before.
Pepsi’s move makes it clear that the days of the “spray and play approach” where advertisers run video ads on every outlet in hopes of reaching the widest possible audience are over. ,put it.
“Now that the standard TV experience has collapsed, the big question for Pepsi is how it can accommodate fragmented audiences that were previously concentrated in one place,” Mirsky told Digiday. said in an email comment to
Simply put, advertisers, including Pepsi, will spend much of 2023 figuring out where, when, how and why to use it in today’s fragmented video market. .
“Capturing consumer attention is always a challenge, but we do it well,” Haniffy said. As we grow, we become smarter about our investments and make sure we have the right tools to generate and measure maximum ROI.”
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