Cuts Aren't Over, But P&G Wants to Restore Agency Profits
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After cutting nearly half its agencies and around 30% of its creative and production fees, Procter & Gamble Co. isn’t finished yet. But in a speech to the 4A’s Transformation conference in Los Angeles on Tuesday, Chief Brand Officer Marc Pritchard said the onus will be on P&G to fix its own problems too and even focus on restoring agency profitability.
The speech was part of a trilogy that started with Interactive Advertising Bureau and Association of National Advertisers conferences in January and March respectively. Those focused primarily on problems with digital media. He didn’t delve as deeply into that subject this time, though he did, without naming names, weigh in on the brand-safety crisis afflicting Google in recent weeks.
There, he returned to his theme of “head fakes” from digital media players that was the focus of his March ANA speech. “Here’s the head fake you might get: ‘But you’ve only had a couple thousand impressions served on objectionable content.’ Response: ‘That’s a couple thousand too many.’ We have a zero-tolerance standard when it comes to brand safety,” Mr. Pritchard said on Tuesday. “Our brands are protected in other forms of media.”
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