Times are changing rapidly in the world of marketing and advertising.
Procter & Gamble Co are leading the way, harnessing the power of social media and the latest technology to get their message out to the people who really matter – you, the consumer. Soap operas may still continue to attract consistent audiences, but with revenue streams declining and more and more people going online, digital internet advertising is without a doubt seen as the way forward.
Procter & Gamble has been inextricably linked with soap operas since the 1930s through both direct production and sponsorship, but following on the heels of the hugely successful campaign on Old Spice Guy on You Tube, it has decided to place greater emphasis on the use of digital media as its primary source of advertising. Marketing Chief Executive Marc Pritchard explained that the concept wasn’t new, but based on a tried and tested formula “it’s the oldest form of advertising – word of mouth – allied to the newest form of technology.”
Much of the $9 billion advertising budget will in future be spent targeting social media sites like Facebook, Twitter and You Tube, allowing the company to channel their resources more effectively, reaching their core/target market at times when the audience is more receptive. Given the overwhelming success of Coronation Street’s latest live episode experiment – with an audience of 14 million and £4 million generated through advertising – putting the eggs chiefly in the digital media basket might seem to be a gamble. Yet audiences and advertising revenue varies, and trams can’t be derailed every week.
If you still live for your soaps, fear not – Procter & Gamble will still continue with its daytime advertising on your television, but expect to see more and more targeted marketing each time you update your Facebook status.
“In our marketing approach we build our brands based on the appropriate integrated holistic marketing campaign that reaches the consumer when and where they are receptive. As consumers spend more time online and via social media networks, our brands are naturally adding these options to their marketing plans as it helps them engage and serve consumers.”