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:
1. ”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.”
2. “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.”
3. “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.”
4. “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.”
5. “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.”
6. “When you enter the digital world and social media, consumers can quickly sniff out when you are not authentic.”
7. ”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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