P&G on using AI to deliver ‘best possible value’ from ad spend
Niamh CarrollThe FMCG giant claims it ads are being tested and optimised in days versus weeks – and at a tenth of the cost – thanks to AI.
The FMCG giant claims it ads are being tested and optimised in days versus weeks – and at a tenth of the cost – thanks to AI.
Innovation is the “primary enabler” of pricing for the consumer goods giant and remains a crucial component of its business growth despite being flat in its most recent quarter.
With many category-leading brands like Fairy, Ariel and Pampers in its portfolio, growing categories is vital for Procter & Gamble. The company combines consumer insight, innovation, advertising and distribution to grow its highly penetrated brands and their respective markets.
Procter & Gamble’s chief financial officer hailed the company’s pipeline for innovation, expressing confidence that this would help its market-leading brands grow categories, regardless of the economic situation.
Procter & Gamble Europe chief brand officer Taide Guajardo will work alongside Boots CMO Pete Markey, who was appointed ISBA president last month.
As P&G makes a “meaningful” increase to marketing spend, its leadership seeks to reassure investors it is both efficient and effective in driving growth for the business.
The FMCG giant’s chief brand officer warned against embracing technology at the expense of human creativity – and encouraged marketers to find the creativity in the everyday.
P&G is seeking to grow the categories it operates in as it pursues volume growth, utilising its increased marketing spend to do so.
P&G is aiming to build its brands and the categories in which they operate through meaningful innovation, CEO Jon Moeller says.
The consumer goods giant is committing to further investment in marketing efficiency as it seeks to drive category growth in beauty and home care.
The consumer goods giant ‘reset’ its superior product portfolio, reducing the proportion of its products that are included in it, in order to fight ‘inertia’.
Consumer goods giant P&G is banking on its ‘product superiority’ to allow it to continue to raise prices as it returns to volume growth.
P&G decides its level of marketing investment based on how spend is performing to drive its strategy and create value, rather than a set budget to adhere to and will continue to even as economic conditions improve.
Growing markets should be the “highest order ambition” for marketers, Pritchard said, as it attracts more people, which in turn creates more value.
The barriers to introducing accessible advertising are relatively low, but the potential gains for brands are high, according to P&G Europe’s chief brand officer, Taide Guajardo.
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