PepsiCo's Jakeman sternly takes agencies to task
Brad Jakeman, President/Global Beverage Group at PepsiCo, believes most agencies cannot meet the primary demand of modern marketing: namely, "Being able to produce content in real time."
Having worked at Ogilvy & Mather – alongside stints at Citi, Macy's and Activision – before joining his present employer in 2011, Jakeman is familiar with working practices at major clients and agencies alike. And, based on this experience, he argued, industry models remain well suited to the requirements of 20 years ago, but not the always-on environment in which brands like Doritos, Lay's and Pepsi operate today.
"Instead of five pieces of content a year, a brand like Pepsi needs about 5,000 pieces of content a year. Instead of having six months to develop it, we have six hours or six days. And instead of it costing $2 million, it needs to cost $20,000," Jakeman told delegates attending a session held by The Economist magazine at the 2016 Cannes Lions International Festival of Creativity.