Dozens of Products, Singular Message: How Procter & Gamble's Olympic Marketing Strategy Works
The Athletes for Good program awards 20 athletes from around the globe with a $24,000 USD grant for their respective charities.
Highlights
P&G PG 0.00%↑ will give $24,000 to 20 athletes around the world to donate to their favorite charities.
There is a new documentary called Rising Phoenix coming out on Netflix that will talk about the challenges faced by people with disabilities.
P&G has always been a sponsor of the Olympics, and this year, they will focus on giving back to communities and promoting equality.
Having reputable names such as Pampers, Ariel, Puffs, Always, Gillette, Head & Shoulders, and Old Spice all under one wing could be defined as market dominance. However, for a global giant with dozens of brands under its name, one of the biggest challenges may be creating a marketing presence that isn’t too overwhelming. As intimidating as this brand range and versatility may be, it seems that Procter & Gamble’s team has everything under control - and this year’s Olympic agenda looks rather promising.
Summer is just around the corner, and as we’re impatiently counting the days to July 26th, the thrill of discovering well-thought-out marketing campaigns of Olympic sponsors is an excellent way to kill time. If you, too, get your kicks from dissecting and analyzing pieces of the puzzle that a marketing campaign is, be my guest today as we take a deep dive into P&G’s 2024 Olympic strategy.
P&G’s Inspirational Olympic Journey
For over a decade, Procter & Gamble has been supporting the well-known Olympic mission through a number of campaigns, most of which had a charitable, inclusive note. Back in 2020, when the Olympic entry fee for sponsorship opportunities amounted to a jaw-dropping $100 million, P&G’s CBO Marc Pritchard explained that it had been an honor to support the Olympic journey of athletes on their way to seizing their Olympic dreams. In his Forbes interview, Pritchard also stated that both P&G and individual brand campaigns enabled the company to reach an even greater audience worldwide through “inspirational advertising.”
The 2020 P&G Lead with Love campaign was heavily focused on the role of each individual in their communities, highlighting the importance of support, love, kindness, and sportsmanship - especially in the early stages of a person’s development. The campaign included two films inspired by Olympic and Paralympic athletes, Love Leads to Good and Your Goodness Is Your Greatness, bringing both P&G and Olympic values to big screens. The pillars of the longstanding partnership between P&G and the International Olympic Committee (IOC) remain community impact, equality and inclusion, and environmental sustainability.
One of the most impressive aspects of P&G’s Olympic involvement is the ability to create a campaign that promotes the company in general while still making key brands stand out. On August 23rd, 2020, P&G announced that their multilayered, remarkable marketing involvement in the Olympics would continue, as their partnership with IOC earned an extension through 2028. What is the structure of P&G’s Olympic campaign for this year? The main objective seems to be giving back to communities and emphasizing the importance of equity and equality, so let’s take a closer look at these crucial topics.
The Athletes for Good Program
In their newest Olympic campaign, P&G is adding a new dimension to their efforts to give back and inspire. The Athletes for Good program awards 20 athletes from around the globe with a $24,000 USD grant for their respective charities. Through this program, P&G is allowing athletes who haven’t had the opportunity to obtain the funds themselves to support the charities of their choice.
One of the applicants who received the grant is Griffin Colapinto, a surfer representing the United States. Griffin, who is no stranger to mental health issues, found journaling as a perfect outlet in challenging times. In 2022, Griffin published his journal with his brother and gifted the profits to To Write on Her Arms, a non-profit organization dedicated to helping young individuals face mental health battles.
Fueled by the generous P&G grant, Griffin’s mission continues as 96 high schools will receive a 7-day-long mental health curriculum. Nineteen other athletes received a grant to support the noble missions of different charities dedicated to mental health, creating more opportunities for the disabled, or helping underprivileged aspiring athletes.
The Rising Phoenix Documentary
The summer of 2024 will bring the Olympic Games in Paris and the global release of a Netflix original documentary feature film, Rising Phoenix. Partnered with Harder Than You Think (HTYT), P&G Studios has been working on an eye-opening documentary that will trigger the conversation about disability.
A renowned team of professionals, including Jim Lebrecht and John Battsek, shines the light on some of the burning issues people with disabilities experience every day, including the image of disability, the lack of inclusion in professional, social, and personal spheres.
Procter & Gamble’s Empowering Sponsorship: A Summary
Enabling the athletes to support the charities they feel connected to is a power move in many different ways. In addition to supporting a charitable cause, the campaign allows Olympic athletes to build their presence as strong, dependable, inspiring individuals.
Some may argue that launching a documentary that coincides with the Olympics means that these issues are only discussed when the spotlight is on. That being said, a Netflix documentary highlighting the obstacles people with disabilities face daily is an excellent method of utilizing media presence to draw attention to important matters.
Financial Outlook
According to FY24 Q2 earnings report:
P&G PG 0.00%↑ reported second quarter fiscal year 2024 net sales of $21.4 billion (+3% YoY), and returned $3.3 billion of cash to shareholders via approximately $2.3 billion of dividend payments and $1 billion of share repurchases.
Beauty segment organic sales increased one percent versus year ago. Skin and Personal Care organic sales declined mid-single digits as volume declines and unfavorable mix due to lower sales of SK-II were partially offset by higher pricing. Hair Care organic sales increased high single digits driven by increased pricing, premium product mix and volume growth, primarily in North America.
Grooming segment organic sales increased nine percent versus year ago driven by higher pricing, premium product mix and volume growth.
Health Care segment organic sales increased two percent versus year ago. Oral Care organic sales increased mid-single digits due to increased pricing and premium product mix, partially offset by volume declines mainly in Latin America and Asia. Personal Health Care organic sales declined low single digits as volume declines and unfavorable mix due to market decline of respiratory products, were partially offset by increased pricing.
Fabric and Home Care segment organic sales increased six percent versus year ago. Fabric Care organic sales increased mid-single digits due to increased pricing and mix due to growth of premium forms and fabric enhancers. Home Care organic sales increased high single digits due to increased pricing, favorable premium products mix and volume growth from innovation.
Baby, Feminine and Family Care segment organic sales increased three percent versus year ago. Baby Care organic sales were unchanged as increased pricing and favorable product mix were offset by volume declines. Feminine Care organic sales increased mid-single digits driven by increased pricing and favorable product mix, partially offset by pricing-related volume declines in international markets. Family Care organic sales increased mid-single digits due primarily to volume growth.
