Here’s a big story in the marketing world. After 23 years, PepsiCo’s beverages will not advertise on the Super Bowl in February 2010. They have a strategy that takes the Pepsi brand in a new direction, focusing instead on cause-related marketing programs. They are re-distributing $20 million of their ad budget to grants. The grants will be for projects suggested by their consumers.

What’s more, they’re increasing their online advertising. Here’s an excerpt from the Wall Street Journal article:

Pepsi says it will spend 60% more on online ads in 2010 than it did this year. It will be relying largely on Web ads and public relations to market its Pepsi brand because, it says, that’s the best way to reach younger audiences— Pepsi’s primary target—and to keep consumers involved with its brand. Ads will carry the new slogan, “Every Pepsi Refreshes the World.” Some of the TV ads will appear in February.

“You can’t just go to market with a TV ad anymore,” says Lee Clow, chief creative officer of Omnicom Group’s TBWA Worldwide, the agency behind the new campaign.

Pepsi is doing just what we’ve been predicting and preaching:

1. To reach and involve your consumers, you have to go beyond a 30 second TV spot. Pepsi, like so many companies, and chosen to go online.

2. Twenty-first century marketing is all about interacting with your customers, listening to them, and responding.

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Click to read the entire article, Pepsi Benches Its Drinks.