A “frenemy” is loosely defined as someone who is part enemy, part friend. Ever since their beginnings, Pepsi and Coca-Cola have been the dominant contenders in the soft drink market. With a rivalry that spans over 100 years, Pepsi and Coke have been known to take jabs at each other in their marketing campaigns. But, in the new age of social media, it may finally be time for Pepsi and Coke to be friends.
Amnesia Razorfish, a leading creative agency, invited both companies on the social utility site, Twitter. The agency encouraged both companies to become friends or Twitter followers. Surprisingly, the two giants agreed and even extended greetings to each other. This may be a first for the two and we will all be able to witness how this experiment works for them. Frenemy relationships are not solely for publicity, but gives you an edge on what your competitor is up to. A company who fails to take direct and indirect competitors seriously will suffer a huge disadvantage. Some other big frenemy relationships include: Google and WPP Group, eBay and PayPal, Facebook and MySpace.
This new online relationship will not only give publicity to Coke and Pepsi, but may even promote a positive image for both companies. Nowadays, traditional advertising may be trite and monotonous to the public. Since more consumers are turning to the internet, companies can now use social media advertising and viral marketing in order to attract online attention. When approaching online marketing, the competitor-friendliest companies may be the most successful. As the well-known saying goes, it is important to “Keep your friends close, and your enemies closer”.
