Jan. 30, 2017 - Jennifer Faull of The Drum, writes: Procter & Gamble’s (P&G) top marketer Marc Pritchard [pictured] has revealed that it will review all of its agency contracts in 2017 in a bid to bring transparency to the "murky at best, criminal at worst" media supply chain.
It forms part of a four-point plan the business has put in place to exert greater control over the quality of its media strategy and ultimately create better advertising to drive growth.
"P&G believed the myth that we could be the latest mover on all the new shiny objects despite the lack of standers in measurement and verification," said chief brand officer Pritchard at the IAB’s Annual Leadership Meeting in Miami last week.
"We accepted multiple viewability metrics, publishers reporting with no verification, outdated agency contracts and fraud threats with the somewhat delusional thought that digital is different and that we were getting ahead of the digital curve. We’ve come to our senses and we realised there is no sustainable advantage in a complicated, non-transparent, inefficient and fraudulent media supply chain." More...