World’s Largest Advertiser Changes Business Model. Why?
Secret deodorant’s “Like A Girl” video was watched 85 million times around the world. Is this just a strike of social media luck for Procter & Gamble – the world’s largest advertiser with a spend of $8.6 billion for 300 brands? Or is it part of a new global strategy, led from the top down?
In an interview with Forbes, Marc Pritchard, Procter & Gamble’s Global Brand Officer, shared with contributor Avi Dan why the company has decided to make a quick, massive shift to a “digital first” business model.
Here are 7 highlights.
- “It’s because of work like that (Like A Girl) I am so bullish on the future of marketing and the tremendous value it creates. It’s a different mindset (…). Take a brilliant brand idea and express it across the vast array of media, to paint a masterpiece that connects with consumers and builds sales and profits.”
- “For shareholders, (digital technology) provides above-average returns on our investment. This is why P&G is quickly shifting to a digital-first approach to building brands.”
- “The media created by digital technology is where consumers are spending their time. Around the world, up to half of people’s media viewing time is spent on digital, with about a third of that on mobile.”
- “The use of digital technology for creativity is at an inflection point, one of the most important moments we have ever seen in the history of advertising.”
- “We have the capacity to reach people in more ways than we ever dreamed possible, and make brands a presence in people’s lives throughout their days.”
- “When you enter the digital world and social media, consumers can quickly sniff out when you are not authentic.”
- “I (tell) our people to look beyond the obsession of technology and turn our attention to what really matters – the consumer experience.”
Read the full article here.
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