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P&G Cuts More Than $100 Million In 'Largely Ineffective' Digital Ads (wsj.com)
schwit1 quotes the Wall Street Journal: Procter & Gamble said that its move to cut more than $100 million in digital marketing spend in the June quarter had little impact on its business, proving that those digital ads were largely ineffective. Almost all of the consumer product giant's advertising cuts in the period came from digital, finance chief Jon Moeller said on its earnings call Thursday. The company targeted ads that could wind up on sites with fake traffic from software known as "bots," or those with objectionable content. "What it reflected was a choice to cut spending from a digital standpoint where it was ineffective, where either we were serving bots as opposed to human beings or where the placement of ads was not facilitating the equity of our brands," he said... The cuts echo marketing executives' mounting concerns around the efficacy of digital advertising and the growing perception that they are wasting money on digital ads that never reach their intended audience.
Or even better, bringing jobs back to the US.
back in the day. some higher-up made a similar speech as Moeller, but it was about reducing "enrollment" which is "employees". the salesforce was reduced ~ 60% within two years. overall management went down 30%. upper levels were combined and not renewed. P&G is too big to change quickly. when they finally decide to change, it happens faster than standard adjustments. still have friends there. it's sorta like a government job. keep boss happy keep job.
I've been saying this on and off for years. We're all about to get a taste of all that efficiency folks have been clamoring about for decades. All that bureaucracy and waste is one of the only things that made it possible to pry even a bit of money out of the hands of the super rich. If you think the economy sucks now wait till it's running at peak efficiency.
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The future of digital ads from my perspective.
No more chances for advertisers to fix it. I'm done. No whitelists. No browser adblock. No more bullshit. No sympathy. Every time you think you can trust a little... bam... more new horseshit. That pi-hole server running on my network is the coolest fucking thing since sliced bread. It runs in a VM, and even so, it's fast. Every device on the network is protected from a single source.
It's wonderful, and I sing its praise every chance I get.
Beware of the Leopard.
There's a bit of saying in advertising. Half of your money in advertising is always wasted. The trick is to filter out what half you can throw away and replace as quick as possible. And this just proved that Facebook's NSA style of mass collection and tailored advertising just don't work. Google is lucky in that they have many other products and services that they offer. And there's another issue that is probably not being considered by too many people that Procter and Gamble's advertising policies are known to signal the trend in which advertising is going. And if they say that Facebook's product is useless other people will listen and change accordingly.
There's a real solid chance that Facebook is screwed. And if they don't bounce back from this it might signal of their downfall.
Except Amazon also started irritating me off with more and more of their own ads. Apparently, it's not good enough that I'm going there to buy something. They have to try to monetize my eyeballs as well by shoving paid adverts in my search results.
Companies just can't seem to resist the siren's lure of some "free" extra profit (nevermind how it annoys some customers). The web just got ridiculously top-heavy with ads, and worse, they started becoming *dangerous*. That's when I installed an ad-blocker, and no amount of cajoling will get me to lower my shields... not when infected ads even get delivered by mainstream sites, not just the sketchy ones.
Irony: Agile development has too much intertia to be abandoned now.