U.S. consumer goods giant Procter & Gamble Co. (PG), the global multinational that spent a whopping $7.2 billion on advertising in the 12-month period ended in July, just came out and said we need less advertising.
“We’ve cut the amount of work we do, but we can go much further by focusing on fewer and better ideas that last longer,” said P&G’s most senior marketer, March Pritchard, at the American Association of Advertising Agencies Transformation conference on Tuesday.
“We get tired of ads a lot faster than consumers do,” said the company’s chief brand officer. Pritchard indicated that a set plan to change ads after a certain amount of time just because it is the protocol is “not a good reason.” Instead, the executive said the industry should “stop chasing its tail” and “have the courage to do less.”
'Cleaning Up' Media Partnerships
Cincinnati-based P&G also promises to continue streamlining marketing and media agency partnerships, indicating it has already slashed its alliances by 50% in efforts to decrease complexity and improve the quality of its output. (See also: P&G Wants to Make Digital Ads Suck Less.)
As consumer products companies innovate with new advertising channels such as influencer marketing and social media campaigns, digital has become a way to tap into a growing Millennial consumer cohort. With the ultrafast shift to online outlets, issues have mounted, such as ad misplacement and advertising appearing next to extreme content. After a wave of major advertisements pulled their partnerships with Alphabet Inc.’s (GOOG) YouTube service, the video streaming platform promised to use third parties to provide “brand safety” reporting. (See also: YouTube Advertisers Ask For Discounts.)
P&G’s chief brand officer said the company is committed to “clean up” its relationships with online media partners, suggesting a “zero tolerance policy” for ads appearing next to “objectionable content.”
The value of advertising and the changing nature of the industry has remained a hot topic on the consumer products front lately. This week, social media blew up after beverage giant PepsiCo Inc. (PEP) pulled after just one day a highly unpopular ad featuring Kendall Jenner at a staged protest. PepsiCo thought it was on the right path by targeting the Millennial generation’s political and social consciousness, but the ad showed the danger of using an in-house marketing team. (See also: SodaStream Takes Bold Stab at Rival Pepsi.)