P&G is one organization which continues to amaze with its hunger for “more and better” in everything. Its arguably by far the best consumer goods company in the world. Outstanding people are the foundation of this reputation and they have been trained and groomed largely internally. But in today’s fast changing marketing landscape, even P&G is realising that it doesn’t have all the answers and needs to reach out and learn. Connect & develop was one such initiative to accelerate its product innovation pipeline efficiently. Now in another interesting move, there is a planned talent swap with Google with the stated purpose of – “to learn more about each other and about targeting customers”. Read more here.
If Connect & Develop was about maximising the value of R&D dollars, this is about maximising the media dollars. Think about what this early dalliance can lead to : The world’s largest advertiser ties up with what is perhaps the world’s largest media property.
The timing is also good. With the recession led pressure on margins and costs, anything which helps maintain or increase share of voice with a reduced media spend is welcome. P&G wants to know more about the online media habits so that it can confidently shift more media dollars away from mass-media. For Google, getting a convert like P&G would mean other companies will follow soon.
Well done !! Stock up on both the scrips.