‘The way to beat startups is build our own’: Top CMOs have DTCs and growth on their minds
Art Business

‘The way to beat startups is build our own’: Top CMOs have DTCs and growth on their minds

“This industry should be a force for good and a force for growth,” said Marc Pritchard, chief brand officer for Procter & Gamble. It’s not a unique point: As brands have come under the microscope for everything from their sustainability practices to the makeup of their boards, businesses are claiming a rebirth of “brand purpose” — that it should be about more than just shareholders, but about stakeholders as well. Here’s more of what was discussed in Orlando last week. Marketers want some of that DTC action. While direct-to-consumer brands weren’t represented on stage at ANA, the impact of those brands on the marketplace was still felt. “We decided that one way to beat startups is to start our own,” said Pritchard. “We now have more than 180 startups that are transforming how we innovate through lean innovation.” P&G didn’t simply start building its own startups out of nowhere. The company went to Silicon Valley, watched how startups were working and took some of those lessons back to its own brands. P&G isn’t alone; other major brands are looking at DTC as a way to get more data about their consumers as well as test out new products before […]

OrangeniusInc Tweets