Good Beer Commercials

At the end of July, P&G, one of the largest consumer goods companies, revealed that it had cut $100 million from its digital advertising budget with no noticeable impact on sales. When the spending cut was revealed on the second quarter earnings call, management declared “we didn’t see a reduction in the growth rate,” as the spending cut was largely in places where “we were serving bots as opposed to human beings or where the placement of ads was not facilitating the equity of our brands.” P&G’s experiment has been widely reported sparking fears in the advertising industry that lucrative market budgets…