How did we ever live without our mobile device which we rely on for almost everything in our daily lives today? Hard to believe the iPhone was introduced 10 years ago.
The digital world is an incredible landscape that continues to take shape and evolve at breakneck speed.
For those of us who spend our days guiding clients and helping them build their brands, the digital world is providing an endless canvas to explore and test new measureable ideas which is also having an impact on the brand building process. Are we forgetting what it takes to build a brand? If we expect instant ROI, does that come at a price?
In a recent interview with Irwin Gotlieb, global chairman of GroupM, he said “When the history books get written on the last 15 years, I think they will say that the lack of brand building, the lack of effort on long-term marketing, destroyed and damaged more brand value than anyone can add up.”
He went on to say “When you become more focused on the short term than the long term, you need to narrow your marketing funnel because that’s where long-term effect happens. You focus on short-term ROI, and brand building doesn’t give you short-term return, it gives you long-term return.”
Tough words that should give us all pause to consider the balance between generating short- and long-term success and how that impacts your brand.
Do you have a long-term strategy to build your brand?
Failure to Build Brands Is Hurting the Economy, GroupM’s Irwin Gotlieb Says
John Gielow, Vice President