P&G Reinvests ‘Wasted’ Media Budget in Creating Reach: Cannes Lions
P&G’s Chief Brand Officer Marc Pritchard said the company is focused on increasing the number of people it reaches, while at the same time reducing the number of times it reaches the same people over and over and over again.
To do that, it has reinvested parts of its media budget he said were being “wasted,” toward creating reach, he told Marketing Week while attending the Cannes Lions Festival of Creativity, which began yesterday.
“Excess frequency is the biggest waste and in every aspect of our media we’re finding waste to allow us to be able to invest back in creating reach,” he said.
P&G is also upping its volume of search queries around its dozens of brands and using the results as a key metric to determine the effectiveness of creative and campaigns. He said an increase in search correlates to an increase in sales.
Other news from Cannes Lions:
Also at Cannes, P&G unveiled a bold new partnership with John Legend, tied to its Pampers, Gillette and SK-II brands, and Arianna Huffington’s Thrive Global, which embeds “micro-step habit stacking” into P&G brands such as Oral-B and Crest, Pampers, Venus, Secret and Pantene, to “reimagine creativity to reinvent advertising at a time when change is needed,” P&G said.
“For too long, the ad world has been in its own world—separate from other creative industries and becoming less relevant to consumers. It’s time to reimagine creativity to reinvent advertising,” Pritchard said. “There are vast sources of creativity available, and today P&G is taking action to merge the ad world with other creative worlds though partnerships that embrace humanity and broaden our view of what advertising could be.”
Other partnerships announced by P&G include those with Free the Bid, Saturday Morning and a creative partnership with GLAAD to celebrate all aspects of human inclusion and expression, including a new film from Pantene that updates the brand’s iconic “Don’t Hate Me Because I’m Beautiful” campaign.