Short and long-term strategies need to be balanced both in terms of marketing strategy and in measurement of effectiveness. The advance of digital and social has created a growing focus on short-term impact – although there is increasing evidence that these channels can deliver long-term business contributions. Consistency, creativity and emotion are what generates long-term success.
Definition
Short-term strategies focus on immediate gain, for example a sales spike. This is often called ‘sales activation’. In contrast, long-term strategies measure success over time – for example, the long-term price effects produced by a strong brand. This is often described as ‘brand building’.