Social Media: Pepsi Refresh Project

More and more these days Social Media surprises me. This is a brave new direction for Pepsi. Please enjoy the following from a recent blog post by Nicole Galletta

It's not a secret that Pepsi is pulling their multi-million dollar Superbowl opening ad position to focus on a multi-million dollar social media campaign.This is just one more example of how fast and how big of an impact social media has made for PR and advertising practices.

This year, Pepsi will utilize social media in its Pepsi Refresh Project campaign to encourage the global community to nominate projects and ideas that need funding. Individuals, organizations, and businesses can upload their idea or project and then rally for votes. The project/idea with the most votes will win grants from $5,000 to $250,000.

Forgoing the expensive ad spot in exchange for funding great ideas that potentially make our world a better place and stimulate the economy? Yes, please!

Being a Coke guy myself, I do appreciate the power of this Refresh Project. This is a great chance for Pepsi to gain back a market share that might have slipped away over the past months or even years. Social Media will never be the same.