How to balance long-term and short-term strategies
Les Binet and Peter Field
One of the biggest challenges for marketers is balancing the need for short-term sales improvement with long-term brand success.
Our previous research has shown that campaigns that perform well when judged by longer-term metrics, such as profit and share growth, do not necessarily perform well at generating short-term direct responses (Binet & Field, 2007). And the converse is also true: campaigns that drove short-term direct response most strongly, tend to underperform on longer term metrics.
This issue has increased in importance in recent years...