Bob Hoffman:

They announced that they had cut over $100 million in online ads from their 3rd quarter spending. According to The Wall Street Journal this …”had little impact on its business, proving that those digital ads were largely ineffective.”
 “Chief Executive David Taylor said in an interview that the digital spending cuts are part of a bigger push by the company to more quickly halt spending on items…that aren’t working.”
 Referring to the problem of fraud in online advertising, P&G finance chief Jon Moeller said one of the reasons for the cut in online advertising was “…we were serving (ads to) bots as opposed to human beings.”
 One of the lessons here is that no one knows how much bot fraud there is. Agencies keep giving their clients reports on how “fraud-free” their advertising is. It’s all bullshit. If P&G can’t get fraud-free advertising, do you really think you can?
 Despite the hysterical appetite for online advertising on the part of the marketing community, I still remain highly skeptical about its effectiveness for brand marketers. In fact, I’m getting more skeptical by the day.