Marc Pritchard, Procter & Gamble’s chief brand officer, has urged marketers to elevate craft in advertising, as well as media content, and improve transparency to eliminate waste. By doing so he said it will free up cash and enable marketers to invest in growth, as he believes the industry has an important role to play in growing companies and the economy.

Speaking this morning (20 June) at the Wake up with The Economist event, held as part of the Cannes Lions Festival, he said: “The industry is spending roughly $600bn a year on advertising and marketing and squeaking out a pretty anaemic growth rate.

“What we need is better craft in both advertising and media content in order to be able to drive growth, and we need a transparent media supply chain that allows us to eliminate all of the waste that is out there to allow us to invest in that growth.”

The road to transparency

Pritchard has been very vocal about the need for improvements to the digital supply chain. He wants common standards introduced, as well as third-party measurement that is accredited in the same way as TV and ensuring any media buy is fraud-free and safety measures are implemented to protect brands appearing against terrorist content.

Sourced through Scoop.it from: www.marketingweek.com