Procter & Gamble (P&G) plans to dial down the level of targeting it uses in its advertising on Facebook, with global marketing boss claiming it has been “too narrow” in its approach.
In an interview with the Wall Street Journal, P&G’s global brand building officer Marc Pritchard said the FMCG firm needed to ensure it had the right “reach” with its ads, and argued that it had become overly dependent on Facebook’s audience targeting tools.
“We targeted too much, and we went too narrow,” he told WSJ. “Now we’re looking at: What is the best way to get the most reach but also the right precision?”
However, Pritchard denied that the firm – whose brands include Always, Bounty and Tide – would be reducing its ad spend on Facebook.
Earlier this year, P&G revealed expects to spend $1.5bn on agency-related marketing costs next year, down 25% on its previous expenditure, and insisted that there is “still room” for further cuts.
The company – the world’s largest advertiser by measured media – has previously stated its intention to reduce the costs that “do not impact reach [and] do not impact frequency”.