Jim Cramer: P&G Wants to Go Broad Not Narrow

P&G (PG) - Get Report wants to go broad with its ads, not narrow, and that is why it is cutting back on its Facebook (FB) - Get Report spending, says TheStreet's 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 eight percent year-over-year. The company plans to increase its advertising spending by five percent for the year that started on July 1.

At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.