P&G's digital summit socially adept

About 40 executives from major social networking companies were invited to P&G’s downtown headquarters to meet with about a hundred P&G marketers to help them unlock the potential of these online sites to reach consumers.

Executives from the evolving world of
social networks had a meeting of the minds with Procter & Gamble
executives as the 172-year-old Cincinnati-based giant held a
four-hour, reality-show style exercise to help it figure out how it
can best use rapidly growing online destinations such as Facebook and
MySpace to target consumers.

With a potential audience of more than
300 million people and still growing quickly, social networking sites
are seen as the newest frontier in advertising. The potential for
advertisers like P&G is enormous. Time spent on social sites is
growing more than three times faster than the rate of overall
Internet growth, according to a new report from media tracker Nielsen
Online.