P&G Leaders On Precision Digital Marketing, Why Less Can Be More
After two quarters of reduced marketing spending, P&G’s top executives used Investor Day 2022 to highlight the efficiencies and higher effectiveness of digital marketing compared with traditional. “We would be missing the point of productivity improvement if we only measure the effectiveness of our brand building by the dollars we spend,” CFO Andre Schulten said.
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Demand for OTC pain relievers and cough/cold products jumped prior to October-December and remained high during quarter due to consumer concern not only about flu but also RSV and additional COVID-19 mutation. US and Canadian firms marketing OTC drugs and supplements also will be offering additional signals on planned spinoffs of consumer health businesses.
P&G reported 7% organic and 1% net sales growth in latest quarter to $20.6bn. Analysts projected organic growth of 5.5% and saw results as indicator firm’s execution strategy, which includes cutting back on costs, is working.
P&G will provide additional detail at its November Investor Day, but says Supply Chain 3.0 is an adaptation to the new normal that will unlock efficiencies and enable reinvestment in brands.