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Friday 18 September 2026 marketing · daily

Agencies · agency review

Coca-Cola’s $4B Agency Review: Consumption Beats Brand Love

Coca-Cola’s top marketer says the next agency must prove it can drive consumption, not just brand love. Here’s what the $4B review signals.

Coca-Cola’s next agency must prove it can drive consumption
In this story
  1. A shift away from brand love
  2. What the next agency must bring
  3. Why this matters for marketing teams

Manolo Arroyo, Coca-Cola’s chief marketing and customer commercial officer, used ADWEEK’s Brandweek conference to make one thing clear: the next agency relationship will be judged on behavior change, not brand sentiment.

The message lands during Coca-Cola’s review of its $4 billion global media, data and technology account, with North America being contested separately. WPP is the incumbent; it stood up the dedicated Open X unit after winning the business in 2020. With Publicis Groupe out of the picture, WPP is widely considered the front-runner to retain the global account, though neither Coca-Cola nor WPP has confirmed a decision.

A shift away from brand love

Arroyo was candid about the current partnership: “We’ve had a phenomenal rise over the last five years with WPP.” But his expectations for the next phase go far beyond the status quo.

He summed up his marketing philosophy with a provocative line: “I do not believe anymore in love.” In his view, people may say they love Coca-Cola or wear the logo, but that does not mean they are consuming it. What matters, he said, is action and behavior — which in this business means consumption.

That shift caused internal friction at Coca-Cola when sales rose but brand-love scores did not. Arroyo described the debate as academic. Marketing, he said, is about changing human behavior — getting someone to drink this instead of that.

What the next agency must bring

For agencies watching the pitch, the requirements are practical:

  • Creators and influencers: deeper integration across the full marketing system, not standalone campaigns.
  • Retail media and commerce: stronger connection between brand investment and where purchases happen.
  • Sales attribution: alternative models that link media spend to transactions and consumption.
  • Experience design: connecting content creators, live experiences and retail experiences to actual consumption.

Arroyo said the company wants to connect content creators, live experiences and retail experiences, and ensure the majority of investment drives actual consumption and sales.

Why this matters for marketing teams

Coca-Cola’s brief is a useful stress test for any brand or agency review. The central question is no longer whether consumers feel positive about a brand; it is whether marketing investment changes what people do.

That means agency partners should come armed with case studies that show behavioral outcomes, not just reach or affection. Teams that can connect creators, retail media and attribution will be better positioned, especially as WPP and Omnicom compete for the business. Omnicom has already invested heavily in commerce capabilities and tying media spend to sales, which sets up a clear contrast.

A simple test for marketing teams: before a campaign launches, name the behavior you expect to shift — trial, frequency, basket add or purchase — and then connect creators, retail media and measurement to that single outcome. If the metric cannot show a change in consumption, purchase or transaction behavior, it may not pass the next pitch.

Source: Adweek

Written by

Marketing Junkies Desk

Marketing Junkies covers agency moves, campaigns, martech and adtech launches with an Indian and global lens. Every story is written from a named source and links back to it.