Speaker 1: Content 2020. How the Coca-Cola company will evolve its approach to the creative agenda on its key brands. We will move from creative excellence to content excellence. Chapter 1. How does content excellence approach liquid and linked content development? The purpose of content excellence is to create ideas so contagious they cannot be controlled. We call this liquid. And these ideas are so innately relevant to our business objectives, our brands and consumer interests, we call this linked. And through the stories we tell, we will provoke conversations and earn a disproportionate share of popular culture. The conversation model we have developed begins with brand stories. These brand stories create liquid and linked ideas. These liquid and linked ideas provoke conversations. Then we need to act and react to those conversations 365 days a year. Chapter 2. The case for change. So what is the case for change? We have three key drivers. First, we intend to double the size of our business. That's a lot of incremental servings. Second, we've observed a distribution of creativity. No one now has the smarts and ideas. And in fact, consumer-generated stories outnumber Coca-Cola company-generated stories on most of our brands. And we must fuel both of these truths. The third is the distribution of technology. We now have greater connectivity and consumer empowerment than ever before. This has driven an on-demand culture where consumers can turn their demands on 24 hours a day. The good news is that technology can enable brilliant creativity. We can develop ideas where we cannot separate the message from technology. Let's take a look at Twelfth Force or Tipex. We can leverage existing consumer behaviours as IKEA have done on Facebook. And we can develop deeper emotional connections through our storytelling as the Golf GT mobile iPhone app has done. But we must integrate technologists into the core creative team. And we must develop direct relationships with technology companies. Chapter 3. The evolution of storytelling. With this in mind, we need to focus on the evolution of storytelling. We need to move from one-way storytelling to dynamic storytelling. What is the definition of dynamic storytelling? Well, it's the development of incremental elements of a brand idea that get dispersed systematically across multiple channels of conversation. For the purposes of creating a unified and coordinated brand experience. The role of content excellence is to behave like a ruthless editor. Otherwise we'll risk just creating noise. Therefore, we need to build system-wide capabilities in dynamic storytelling. We have identified five key capability areas. The first is serial storytelling. The second is multifaceted storytelling. The third is spreadable storytelling. The fourth is immersion and discovery storytelling. And the fifth is engagement through storytelling. We must remember that storytelling is at the heart of all families, communities and cultures. And it's something that the Coca-Cola company has excelled at for 125 years. Chapter 4. Baking live positively into our storytelling plans. So where do our stories start? The BVA is the blueprint for each brand. We've successfully integrated cultural leadership and cultural tensions into each of the BVAs. Now we must do the same with Live Positively. Our brand stories must show commitment to making the world a better place. So we must partner with the brand teams to build the BVA with a clear Live Positively lens. Then we need to decide what part of the Live Positively story do we want to apply to the brand story. And importantly, what part of this story should we tell to consumers? The exciting thing about Live Positively and storytelling is it's a huge creative opportunity. Let's take a look at the Nike Girl effect. For the Coca-Cola company, our powerful position in the world affords us both the opportunity and the responsibility to create significant positive change in the world. Every employee needs to help ensure that our brands succeed in a way that makes the world a better place. And the Live Positively principles must be applied to our own daily lives, activities and operations. Chapter 5. From insights to provocations. The Big Fat Fertile Creative Brief. The next area of evolution is moving from insights to provocations. We need bigger thinking at the heart of our strategic briefs. Working with knowledge and insights, we've observed that a lot of our insights have led to small incremental thinking. What we need are provocations that will lead to bigger transformational actions. In order to get provocations, data will become the new soil. Soil within which our ideas will grow. And data whisperers will become the new messiahs. Once we have these inspirational provocations, we will move on to a liquid and linked creative brief. The liquid and linked creative brief must reveal a big fat fertile space at the heart. This space will be informed by business data, objectives and challenges. It will be informed by brand spacing work. It will be informed by working with internal and external collaborators. And importantly, collaborating with consumers to help strengthen and build the spaces. We need to engage more frequently in online conversation. But let's not just listen, let's really converse. Knowledge and insights have developed a number of initiatives from Emergent Safaris, Community Space and Connect that can really help lead us into uncovering inspirational provocations. We also need to work with our partners in Connections to ensure that we have dramatically different briefs that exploit the Connections ecosystem. But remember, our creative briefs must deliver a big, powerful message. Our creative briefs must deliver a big, fat, fertile space at the core. We have a definition of content. And that is the creation of stories that are to be expressed through every possible connection. For the Coca-Cola company, each story must add value and significance to people's lives. Our content is the substance or matter of brand engagement and conversation. As such, it has to be the world's most engaging content. And we have a definition of liquid. Elements of content that move freely amongst themselves but do not become separated stories, rather like molecules that become gases if they become too separate. Our stories must remain connected. But these ideas will be so compelling, they take on a life force of their own. The fluidity of our ideas means that no one model of development can do it all. We need more collaborative and adaptive and continuous models of development. We are working with several different models right now. From working directly with creative talent, to working with brand fans, to working with new creative industry collaborators, to working with a rockstar single agency across all of our particular needs. All of these require different processes, but all require the same principles. We have five guiding principles in co-creation. The first is to inspire participation amongst the very, very best. The second is to connect these creative minds. The third is to share the results of our efforts. The fourth is to continue development. And the fifth is to measure our success. So how do we manage the development of a liquid idea? Our role is to govern its flow. We need to define the North Star, some big audacious impact on popular culture. We need to bring out the creativity in all those we work with. We need to encourage bravery. We need to be a catalyst for play. We need to ensure clarity in our thinking. We need to embrace risk and all that entails. And we need to incubate creative ideas and create a culture of creativity. We also know that world-class creative ideas need tension in order to make them thrive. So we need to all learn how to use conflict constructively, as conflict can truly be an enabler of outstanding creative thinking. Chapter 7. Applying the 70-20-10 Investment Principles for Liquid Content How do we apply the 70-20-10 model to content development? On the one hand, we have low-risk content, which is where 70% of our investment should be. This is the bread-and-butter content. It pays the rent. It's our passport to the 10. This content should consume less time resource, perhaps 50% of the time. Then we have 20% of the content, and this is where we innovate off what works. This engages more deeply with a more specific audience, but still with broad scale. And then we have high-risk content. This is 10%. These are brand new ideas. These will become tomorrow's 20 or 70. We need to declare learning intent up front. We need to be prepared to fail, and we need to celebrate both failure and success. If we take a look at Fanta, you could argue that Fanta's TVC's Out of Home and Shopper is in the 70%, the mime spoof from Brazil was in the 20%, and the rollerball interactive campaign that we're producing is in the 10%. Chapter 8. Researching liquid content. Working with Knowledge and Insights, we agree that our current approach to researching content needs urgent address. Twelfth Force, Gatorade, Second Generation, Old Spice, Nike's Right the Future, and Nike's Live Strong, these campaigns were all birthed without pre-testing quantitative research. Why? Well, the 32nd TV ad is only a chapter of the idea. Rather like FIFA, it's not the idea in its entirety. The business demands liquid content, but our current pre-testing approach solidifies content too early in the process. For liquid content, any approach that solidifies or evaporates a liquid idea has to be the enemy. Reviewing our current research approach, we need to recalibrate where and how we invest our research budget. Currently, we spend about 20% of funds in qualitative testing, which is an increasingly outmoded and irrelevant tool. Then we spend around 60% of our budget on heavy executional link testing. And finally, we spend around 20% of our budget on static, indirect testing. And finally, we spend around 20% of our budget on static, in-market testing through the B-cubed and AdTrack tools. As we move to a more liquid and linked world, we will increasingly develop big ideas that are not 32nd TV-centric. Therefore, we must develop greater capabilities in testing the ideas. We need to understand how to use research to expand the potential of the creative spaces and the ideas we are creating. In the future, we would like to see around 30% of our research budget invested in inspirational provocation tools like the Immersion Safaris, CommuniSpace, and Connect in our upfront creative process. Then, as we start to develop specific creative proof points, we must avoid qualitative testing of scripts altogether. Instead, we would like to spend around 15% of the total budget on interactive feedback and online consumer dialogue tools. This type of approach will enable us to take these early creative spaces and evolve them into compelling A-Z story arcs. Working directly with consumers is exciting. Consumers produce more brand stories than we do, so let's move towards genuine consumer collaboration. Once we have developed actual stories, say in the form of TVCs, we still recommend linked testing, but in a much more efficient and cost-effective manner. A more efficient approach would see the total linked budgets be reduced from, say, 60% to 30% of total. And finally, in-market testing. We'd like to see more investment in conversational and real-time testing and in the iterative evolution of content once it's in the marketplace. We've noticed that as soon as we've launched a conversation, we as a company tend to move on far too early. And what we'd like to do is learn how to fuel the conversations that we're having in the long term. In addition to B-cubed in AdTrack, we recommend greater investment in NetBase, the effective tool developed by Knowledge and Insights to measure the positive buzz and impact our efforts create. Chapter 9. Applying the dollar multiplier to the iterative production process. Moving into production, we need a more fluid approach to the production process. In a liquid world, we need multiple content, so we need a lot more stuff without a lot more dollars. We need to plan for this in the outset, and we've developed a principle called the dollar multiplier. We also need to accept that some content needs won't be known until we're in market, so we must maintain flow of content. We also need to accept that some content needs won't be known until we're in market, so we must maintain flexibility so we can respond to the conversations. In a liquid world, we need tentpole and tentpeg productions. Each is vital in holding up the brand story. We need to fuel the development of both through new and emerging creative models, working with new and different creative partners. As a result, we will probably increase the percentage of production spend working directly with production companies. Remember, we need to iterate, iterate, iterate. Don't just replicate your production content. Chapter 10. In summary. So there you have it. It is a new liquid world for the Coca-Cola company, and we have a new North Star. We need to produce liquid ideas that earn a disproportionate share of popular culture. And in so doing, we're confident of our part in meeting the company's Vision 2020 ambition. Thank you for watching.