P&G wants to go broad with its ads, not narrow, and that is why it is cutting back on its Facebook spending, said TheStreet’s TST Jim Cramer. The Cincinnati-based consumer goods company said it will scale back its targeted ads on Facebook. Considered the biggest advertising spender in the world, P&G said the targeted ads were producing limited revenue for the company. P&G still plans to maintain advertisements on Facebook, but it will use targeted ads only where it makes sense. The company has recently increased spending on both websites and traditional platforms. P&G spent about $8.3 billion on global advertising this year, down 8% year-over-year. The company plans to increase its advertising spending by 5% for the year that started on July 1.
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