Lush and Pritchard speak out against social media
There’s a growing tide of opinion that social media giants are alienating brand audiences and breaking down the trust relationship between brands and consumers
The chorus of discontent directed to the major social media platforms reached a new crescendo in mid-April. Speaking at an Association of National Advertisers event, Marc Pritchard, Procter & Gamble’s chief brand officer, ratcheted up his demands that Facebook, YouTube and others should clean up their act and provide advertisers with real eyeballs in a brand-safe environment. No sooner had the standing ovation from delegates died down than news broke that Lush, the British soap and cosmetics firm, was shutting down its social media accounts. While Pritchard and Lush maintain that brands are being ripped off on social media, this message has yet to land on Wall Street. Facebook’s share price has grown by 40% so far this year and Pinterest, which listed just before the Easter weekend, climbed 28% on its first day of trading. An advertising paradox It’s a paradox. While there is evident value in using data to refine precision marketing, it’s also quite clear that the reality is failing...
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