If you’re deciding between a long 10-year advertising plan or no plan at all, you are better off ‘winging-it.’
The internet has transformed the way information is shared and consumed, and as a result, has changed the way advertisers promote products. Today, digital advertisers have to appeal to their audience on a wide variety of channels in order to establish a brand voice and identity in the pursuit of consumers and loyalty.
So what does this mean for digital advertisers?
For starters, it means that the world is rapidly changing and with it, the meaning of long term has shifted. A long-term strategy 20 years ago spanned decades and was supposed to take into account market changes, social shifts and advancements in technology, however 20 years ago, advertisers couldn’t predict smart phones, social media or instant mobile communication.
Today, with the world changing drastically every quarter, companies cannot adhere to antiquated plans, and many advertising strategies are irrelevant within months rather than decades.
Does this mean companies should throw it all away and wing-it? Probably not. But it does mean that companies need to be flexible and understand that new technologies can be introduced every day that will render their well thought out plans obsolete.
Instead of planning for long term, companies need to focus on their brand identity and message and keep that as the focal point for a long-term advertising strategy. Instead of trying to predict the future and where technology will take advertisers, advertisers should build a brand (and an advertising and marketing strategy for that brand) that is flexible enough to change and stand the test of time.