HOLLYWOOD, FL: Procter & Gamble, the FMCG giant, is combining the benefits of scale with the agility demanded by digital media to thrive in the new marketing ecosystem, according to Marc Pritchard, its global marketing and brand building officer.
Pritchard discussed this topic while speaking at the Association of National Advertisers' (ANA) 2015 Media Leadership Conference in Hollywood, Florida.
And he reported that Procter & Gamble – a long-time staple among the world's biggest advertisers – is ready to exploit the unprecedented marketing possibilities which digital provides.
"For our shareholders, we see above-average returns on our investment, which is why P&G is quickly shifting to a digital-first approach to building brands," said Pritchard. (For more, including a case study of how Always has used this approach, read Warc's exclusive report: How P&G pairs size with agility to create opportunity.)
"We have unimaginable opportunity to realise the potential of a medium that is a more fundamental part of people's lives than any other medium in history," said Pritchard.
Drilling down into this subject, he suggested that the ways communications are now delivered have grown increasingly rich and diverse.
And Procter & Gamble's considerable in-house marketing muscle – and, indeed, resources – leave it well-placed to tap this trend.
"Now, digital technology is providing an entirely new array of possibilities, a massive media machine with which to deliver the art of advertising and build our brands," said Pritchard.
"The potential to create business value is significant, with infinite supply, precision targeting, automated buying, selling and distribution, user-generated communication, low-cost production [and] amplification of earned media all leading to much higher return on investment."
Another area where P&G traditionally excels is creativity. Transferring such expertise from legacy media to smartphones, tablets and their ilk, Pritchard said, represents the next step for any brand seeking future success.
"Right now, digital technology for creativity is at an inflection point, standing at one of the most important moments we have ever seen in the history of advertising," he argued.
Data sourced from Warc