P&G is disappointed in digital advertising
Corporations’ ad spending has sank to the lowest level in over in a decade. P&G reduced its ad costs by $125m, which equals a decline of 1.7%. While other companies are moving their budgets into digital advertising, Procter & Gamble seems to be disappointed with modern media. Ad fraud and long supply chains are cited as the biggest problems. Budgets are cut due to inefficiency and lack of transparency across all media channels, including digital advertising.
This is especially important because since its emergence, digital advertising was considered the new miracle medicine for all of the ad market’s illnesses. However, the amount of fraud grew at a frightening pace which lead to anti-fraud technologies getting more and more complicated and expensive.
Well, if the old system is already overloaded with superstructures, you can just switch to another system. Something absolutely new and disruptive like the blockchain.
Alex Shvets, Papyrus Product Director, comments on this idea:
“It seems that more and more advertisers shift their budgets to the internet. But not P&G. The company fell to the lowest level of ad spending in 10 years due to decreasing digital advertising budget.
P&G Chief Brand Officer Marc Pritchard explains this pessimism: ‘We have a media supply chain that is murky at best, and fraudulent at worst.’ These words mean advertisers are so unhappy with the established situation that they will even cancel digital activities, an issue that hurts the whole advertising market.
I believe that the widespread introduction of Papyrus would allow advertisers to trust digital media advertisement and to increase their budgets for optimal spending”.