Long-term planning must be part of a marketer’s daily or weekly thinking

New Ideas in MarketingEssential news for marketers, summarised by YouGov
November 22, 2019, 9:42 AM UTC

To develop a future focus, businesses must build value instead of competing on price.

This article talks about the reasons why marketers seem to be more focused on short-term results rather than having a long-term approach. Citing a CMO survey, the piece states that only 31.5% of 341 marketing leaders spend their time “preparing for the future” with the rest involved in “managing the present”.

Being assigned too few strategic roles as compared to tactical ones, the pressure for short-term earnings, the ambiguity of their roles and the compensation structure which relies more on present performance seem to lead marketers to have a short-term approach.

To develop a future focus, marketers must make long-term planning part of their team’s daily or weekly thinking. Another measure suggested is investing in marketing to drive new capabilities.   

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[6 minute read]