Collaboration has always been essential for growth, but understanding the “how” of collaboration can be a challenge. Recognizing this, Adweek X presents a uniquely formatted event in LA on December 4. This event aims to unlock fresh perspectives, foster true collaboration, and accelerate growth. With the rapidly evolving market and the impact of geopolitical upheaval and technological advancements, Procter & Gamble’s Chief Brand Officer, Marc Pritchard, delivered a keynote speech at the ANA Masters of Marketing, shedding light on his vision for market growth and the strategies employed by P&G.
Embracing Inclusion and Empathy for Unprecedented Growth
Pritchard emphasized that growth does not necessarily mean stealing market share from competitors. Instead, P&G’s growth strategy revolves around expanding its own market to its fullest potential. By focusing on inclusion and developing a deep, empathic understanding of people, P&G aims to connect with a broader audience. Pritchard revealed that although P&G sells basic consumer products and boasts a wide range of offerings, their media and advertising efforts only reach approximately 50-70% of their potential audience. To bridge this gap, P&G is actively listening and speaking to more of their target audience.
Listening to Consumers and Addressing Their Needs
Pritchard provided several examples of P&G’s successful campaigns that were born out of understanding consumers’ needs. With Pampers, P&G addressed parents’ concerns about overflowing diapers candidly, resulting in a campaign that resonated with their target audience. Similarly, Cascade’s campaign focused on the efficiency of automatic dishwashers, targeting the 70% of households that owned one. This approach led to a 25% increase in dishwasher usage. Pritchard also highlighted the power of seeking input from different segments of the population, citing Swiffer’s creation of the Power Mop as a result of engaging with consumers to gather their thoughts on mopping.
Data, Detail Innovation, and Inclusion for Immediate Results
While Pritchard acknowledged the importance of data and detail innovation, he emphasized that inclusion yields almost immediate results. P&G’s “The Missing Chapter” period education campaign in India, in collaboration with Leo Burnett, won the top prize at the Cannes Lions International Festival of Creativity for Sustainable Development Goals. This campaign aimed to address the lack of accurate information about periods and limited access to period products, which leads to one in five young women in India dropping out of school. P&G estimated that this campaign helped expand access to period education for 100 million young women.
Expanding on this initiative, P&G has enlisted OB/GYN Dr. Nicole Sparks to spearhead a period education program in North America. This move showcases P&G’s commitment to growth through the inclusion of diverse voices and perspectives.
Adding More Voices to the Mix
P&G is actively pursuing growth on a global scale by recognizing and rewarding the best-performing brands within the company. Through their internal best-brand awards, P&G evaluates brands worldwide based on their market growth, share, users, profit, and sales. Pritchard emphasized that the traditional approach of taking market share from competitors is not the only path to growth. Instead, P&G seeks to innovate and make the market bigger, attracting more users.
Pritchard showcased P&G’s efforts to expand their market by featuring Old Spice body wash ads and highlighting the work of Kevin Hart’s Hartbeat and LOL Network in building the brand.
Continuing the Conversation: Period Education and Sustainable Growth
P&G’s commitment to growth extends beyond specific campaigns and initiatives. The company is dedicated to promoting sustainable development goals and addressing societal issues. By leveraging their resources and expertise, P&G aims to create a positive impact on a global scale.
Period Education in North America
Building on the success of their period education campaign in India, P&G has expanded their efforts to North America. The company has partnered with OB/GYN Dr. Nicole Sparks to launch a period education initiative. This program aims to provide accurate information about periods and combat the misinformation that often leads to young women missing out on educational opportunities.
Recognizing and Rewarding Excellence
To foster a culture of growth and innovation, P&G acknowledges and celebrates the brands within their portfolio that have achieved remarkable success. Through their best-brand awards, P&G identifies the top 10 to 15 best-performing brands worldwide. This recognition serves as a testament to the company’s commitment to rewarding growth, market expansion, and user satisfaction.
Redefining Growth Strategies in the Modern Era
Marc Pritchard’s keynote speech at the ANA Masters of Marketing highlighted P&G’s unique approach to driving growth. By embracing inclusion, empathic understanding, and innovation, P&G aims to expand its market, connect with a broader audience, and make a positive impact on society. Through campaigns addressing consumers’ needs and initiatives such as period education, P&G demonstrates its commitment to sustainable growth and empowering individuals around the world.
See first source: Adweek
FAQ
1. What is the focus of P&G’s growth strategy, as highlighted by Marc Pritchard?
P&G’s growth strategy centers around expanding its market to its fullest potential by emphasizing inclusion and developing a deep, empathic understanding of people. It aims to connect with a broader audience and address consumers’ needs.
2. How does P&G plan to reach its potential audience more effectively?
P&G is actively listening to and speaking to more of its target audience to bridge the gap. It seeks input from different segments of the population to connect with a wider audience.
3. Can you provide examples of successful P&G campaigns driven by consumer understanding?
Yes, P&G’s campaigns, such as those for Pampers and Cascade, were born out of understanding consumers’ needs. These campaigns addressed parents’ concerns about diapers and the efficiency of dishwashers, resonating with their target audience.
4. What role does inclusion play in P&G’s growth strategy?
Inclusion is a crucial aspect of P&G’s strategy, yielding almost immediate results. P&G’s initiatives, such as the period education campaign in India and North America, showcase the company’s commitment to growth through the inclusion of diverse voices and perspectives.
5. How does P&G measure brand performance and encourage growth within the company?
P&G evaluates brands worldwide based on their market growth, share, users, profit, and sales through their internal best-brand awards. P&G seeks to innovate and make the market bigger, attracting more users, rather than solely focusing on taking market share from competitors.
6. What initiatives beyond campaigns does P&G undertake to drive sustainable growth?
P&G is dedicated to promoting sustainable development goals and addressing societal issues. The company leverages its resources and expertise to create a positive impact on a global scale. The expansion of period education initiatives and recognition of top-performing brands are examples of P&G’s commitment to sustainable growth.
7. What is the significance of Marc Pritchard’s keynote speech at the ANA Masters of Marketing?
Marc Pritchard’s keynote speech highlights P&G’s unique approach to driving growth. It emphasizes inclusion, empathic understanding, and innovation as key elements of the company’s growth strategy, with a focus on expanding the market, connecting with a broader audience, and making a positive societal impact.
Featured Image Credit: Volodymyr Hryshchenko; Unsplash – Thank you!
