Why marketers like Procter & Gamble’s Marc Pritchard see getting back to basics as a path to growth
Marketers are getting back to basics.
Throughout the year, there’s been a simmering debate for marketers: brand building versus performance marketing. But, in reality, it’s not an either-or equation. Marketers need both brand building and performance marketing to be successful. The problem, of course, is that in in a world that’s obsessed with short-term thinking, the brand building efforts take time to prove while the performance marketing efforts seem like they deliver a clear ROI (or lack thereof) right away. It’s easy, then, to see why marketers would want to invest more in performance marketing to show that their efforts are working and to convince CFOs to open up the purse strings a bit more.
But when companies do make the investment in longer-term brand building efforts, that ultimately leads to brand growth. That’s something that Marc Pritchard, chief brand officer for Procter & Gamble, highlighted when he took the stage at the Association of National Advertisers’ Masters of Marketing conference in Orlando, Florida, this week. Pritchard, who manages one of the largest advertising budgets in the world, with over $8 billion dedicated to brands like Tide, Pantene and Olay, pitched marketers on simplifying marketing and recognizing the opportunity marketers have to understand consumers’ everyday needs, use inspiration from those needs to come up with creative ideas for ads and use those to grow their brands.
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Source:: Digiday
