The IPA has released a new report named ‘The Long and Short of it’, which primarily talks through the benefits of short and long term marketing. It focuses specifically on how these approaches can have different outcomes for your business.
It highlights that businesses put a lot of focus on short-term marketing in order to drive sales, especially as a lot of financial reviews are quarterly and there’s an ever growing demand for results. However, to really get the most out of your long term marketing, you need to have a firm strategy which considers the length, budget, tone and media platforms of a campaign, in order to successfully reach your business goals.
Short-term marketing is usually approached using a rational tone of voice, giving consumers quick benefits of the product/service that doesn’t need to be instilled into the potential customer. This leads to an easier way for the consumer to commit to the purchase.
A common mistake is relying on these short-term bursts one after the other in order to constantly drive sales. Due to this nature of short-term rational campaigns, they can become unmemorable, uncreative and repetitive. This can be detrimental to a brand’s personality and therefore their position within the market.
Due to this, it has been considered that longer term campaigns, usually over 6 months, have the opportunity to build emotional ties and give different relatable dimensions to the brand that can be creative and memorable. As mentioned above, it can be difficult to stray away from short-term campaigns due to their quick return, but more successful brands have had the confidence to apply budget to longer term campaigns, with lower expectations of high returns until the first few months are over.
The emotional campaign needs to take time to really connect with the consumer. It needs to offer something to buy into other than rational benefits of the product/service. Making a person feel like they are getting something much more valuable for their money can set you apart from competition and can even justify higher prices to the consumer. This is one of the many reasons for long-term emotionally toned campaigns.
Although it then seems natural to use both rational and emotional campaigns along-side one another, the rational tone can take away the unique aspect that you have built from your long-term emotional campaign.
Short & Long Term Marketing Strategy Results
Based on these findings, the report concludes that in order to get long term results, it is paramount to develop a longer term campaign to implement the benefits of an emotional message. However, it is suggested to use other integrated platforms along-side the longer term campaign in order to drive sales, rather than implementing a short term rational campaign. A prime example of a brand effectively using long and short-term marketing is Coca-Cola. They have built long term brand awareness through emotionally based campaigns, and use short term integral messages such as viral videos, interactive campaigns (such as the popular ‘names on bottles’ and sponsorship to drive short term sales and reinforce the overall messages that Coca-Cola encompass.
Here at Chalk & Ward Advertising, we always consider every route in order to get the best results based on your short and long term goals, and never underestimate the power of what a well-developed marketing strategy can create for your business.
– Chloe Harvey, Account Executive