Procter & Gamble (PG) Scales Back Targeted Ads on Facebook (FB) - WSJ

August 9, 2016 12:44 PM EDT

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(Updated - August 9, 2016 12:53 PM EDT)

Procter & Gamble (NYSE: PG), the world's largest advertisers, is scaling back on targeted Facebook (NASDAQ: FB) ads, the Wall Street Journal reported mid-day Tuesday.

Procter & Gamble's marketing head, Marc Pritchard, said the company took the strategy too far. "We targeted too much and we went too narrow," he said in an interview with the Journal, "and now we’re looking at: What is the best way to get the most reach but also the right precision?"

The company won't cut back on Facebook spending and will still employ some targeted ads.

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