P&G Spending Thirty Five Percent of Budget on Digital Media
Companies as large as Proctor and Gamble don’t make big moves without hard data to back such moves. According to the Wall Street Journal, the big corporate giant behind brands such as Tide, Pampers, Old Spice and so much more – have decided to spend 35% of its U.S. marketing budget on digital media.
P&G’s Chief Executive stated that this budget will focus on social media and online ads.
“The bottom line is we need and want to be where the consumer is, and increasingly that is online and mobile,” a P&G spokesman said.”
This move by P&G is just representative of what a majority of corporations are doing as online advertising is catching up to television advertising. The gap between the spend on digital advertising and TV ads is narrowing with digital ad spend at $41.9 billion with a growth rate of 14% while TV is at $66.4 billion with a growth rate of only 3%.
As people spend more and more time on their smartphones, tablets and computers, these numbers should only increase.
Read More about P&G at the Wall Street Journal. http://online.wsj.com/article/SB10001424127887323681904578641993173406444.html