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Coca-Cola is moving into the second phase of a review of the thousands of promotion agencies it works with in an effort to scale down the number it currently employs.
It has reviewed its national accounts and is now taking a look at regional and local agencies it works with to develop events, contests and sponsorships, said Coca-Cola spokesperson Dan Schafer.
He said the company's three national promotion agencies, Momentum, Frankel and Grey Global Group, will all continue their relationships with Coca-Cola.
The review process started in January to whittle down the more than 2,000 promotion agencies the company currently works with.
"We're trying to achieve a smaller group," Schafer said. "We want it to be a group of agencies with whom we're going to have deeper, closer relationships, and who can really excel at bringing our brands to life."
He said there is no "target" number of agencies that will remain in place following the review. He added that the review process has "a ways to go."
Schafer said the process of streamlining promotion agencies is parallel to the recent consolidation of the company's media buying agencies from three to one.
"The goal is the same," he said. "We want more of an integrated group of partners and folks who can really be a part of the marketing we're trying to do."
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