Campbell Dives Deeper Into Digital with Major Spending HIke
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Campbell Soup Co.’s playbook for overcoming sluggish sales trends includes a lot more digital spending and less traditional advertising, including pulling some brands from TV altogether, executives said Wednesday. The soup, meals and beverage marketer has also launched a transparency program aimed at overcoming the mounting consumer distrust of big food companies.
Campbell — whose brands include Campbell’s, Prego, V8 and Pepperidge Farm — will hike digital spending to 40% of its media budget in 2016, which is up from about 20% today. TV spending will decline to 50%. Campbell spent $320 million on U.S. advertising last year, according to the Ad Age DataCenter.
“We are moving away from brand marketing to brand experience, where we earn consumer’s trust instead of buying it,” CEO Denise Morrison said Wednesday at the company’s annual institutional investor analyst day.
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