Complete Story
03/28/2018
Is P&G down on digital advertising or just plain rational?
Procter & Gamble’s chief brand officer made headlines earlier this month when he announced the CPG giant had slashed its digital advertising budget by more than $200m in 2017. Marc Pritchard’s outspoken comments on digital are a refreshing reality check in an industry awash in hype.
This time, Pritchard went even further than talking numbers. He pulled no punches in diagnosing what’s gone wrong for advertisers in the digital age.
“As we all chased the Holy Grail of digital, self-included, we were relinquishing too much control – blinded by shiny objects, overwhelmed by big data, and ceding power to algorithms,” Pritchard declared.
For those of us who have been digging deep into the data on ad spend since the advent of digital, Pritchard’s words ring all too true.
They also demonstrate laudable humility. If a C-level marketer in his position can admit to missteps, shouldn’t any other marketer be able to?
