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How short-termism is reshaping marketing: Insights from Jeffrey Hirsch
by Infotools on 15 Nov 2024
We sat down on our podcast with Jeffrey Hirsch, founder of The Right Brain Studio and adjunct professor at USC’s Annenberg School, to discuss the tension between short-term marketing tactics and long-term brand building. Hirsch’s extensive experience with brands like Pepsi, Disney, and General Mills fueled an engaging discussion on the evolving nature of marketing and its implications for modern-day brands.
The shift to short-termism
Hirsch opened the conversation with a stark observation: “Almost everything marketers do now is short-term oriented.” Citing data, he explained how advertising budgets have flipped since the 1980s. Then, 70% of budgets were allocated to long-term brand-building efforts like network TV advertising. Today, up to 90% of marketing dollars are funneled into digital and social media—platforms designed for immediate feedback. While this shift allows for precise measurement, Hirsch questioned its broader impact: “What are we giving up when we focus only on short-term results?”
He described today’s environment as a marketing paradox, referencing the quote, “Half the money I spend on advertising is wasted; the trouble is I don’t know which half.” Modern media analytics have solved part of that mystery, but they’ve also narrowed marketers’ horizons. “We can measure everything now,” Hirsch noted, “but that doesn’t mean we should sacrifice building the emotional essence of a brand.”
Why long-term thinking still matters
Hirsch pointed to the post-WWII boom in the United States as a metaphor for long-term vision. From the GI Bill to the moon landing, these efforts yielded transformative benefits for society—despite being unquantifiable in real-time. In marketing, he argued, the same principle applies. “Brands stood for something back then,” he said, emphasizing that emotional connection is what fosters brand loyalty.
Hirsch stressed the importance of crafting a brand’s identity, not just executing campaigns. He highlighted Apple and Procter & Gamble as companies that strike a balance between short-term results and long-term strategies. “If we only do stunts or focus on immediate ROIs,” he warned, “we’ll fail to create brands that mean something over time.”
The challenges of short attention spans
Modern consumers’ diminishing attention spans complicate the issue. Hirsch shared a surprising statistic: many incoming college students at elite U.S. universities have never read an entire book. “How do we expect to craft five-year marketing plans when people can’t focus beyond snippets?” he asked. The constant dopamine hits from social media, Hirsch explained, mirror the addictive allure of short-term wins in marketing. But while these tactics may yield quick gains, they rarely build enduring brand equity.
Balancing brand evolution with consistency
Brands must adapt to cultural shifts without losing their core identity. Hirsch cited Old Spice as a case study in reinvention. Once perceived as “your grandfather’s aftershave,” the brand embraced a bold, humorous approach to appeal to millennials and Gen Z while retaining its core essence of masculinity. “Old Spice didn’t abandon its DNA,” Hirsch explained. “It evolved how it communicated it.”
However, he noted that many brands fail to navigate this balance, either clinging to outdated practices or losing their identity in the rush to stay relevant. “Brands need to understand their purpose,” Hirsch emphasized, likening the process to psychotherapy: “Why do you exist as a brand? What values do you stand for?”
The role of market researchers
Hirsch concluded by encouraging market researchers to help brands bridge the gap between short-term metrics and long-term vision. “Researchers need to uncover not just what works now, but what can sustain a brand’s relevance over time,” he said. He also stressed the importance of storytelling: “It’s not enough to present numbers. You have to interpret them, connect the dots, and tell a story that drives action.”
Final thoughts
Hirsch’s insights serve as a reminder that while the tools of marketing have evolved, the fundamentals remain the same. “At its heart, marketing is about relationships,” he said. Whether through emotional storytelling, thoughtful branding, or strategic planning, the challenge is to blend short-term wins with a vision for the future."
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