Pepsi and "Refresh Project"

Hey guys, do you remember when we talked about Pepsi and its Pepsi Refresh Project. Recently I read very interesting article that Pepsi sails actually went down after entering the project not up as they suppose too. Even though the project reached 4 million likes on Facebook and 600,000 followers on Twitter the social media plan did not bring the needed results. Pepsi put 50% of its branding budget in social media and it failed!!! They lost their #2 spot and the sales drastically went down. It is probably, as for now one of the biggest social media failures in history.
"Marketing at Pepsi should have never been about conversations or dialogue - it should have been about reminding consumers what Pepsi stands for and encouraging them to go buy it."

read more:
http://www.businessdailyafrica.com/Opinion+++Analysis/Benefits+of+social+media+in+marketing+overstated/-/539548/1142082/-/item/1/-/sl2mm3/-/index.html