For months now, marketers and media buyers alike have been focused on near-term rather than long-term planning. That mindset is likely to continue for the foreseeable future.
The near-term focus has already continued throughout the third and now the fourth quarter of this year — with some marketers so focused on meeting fourth-quarter goals to make up for losses early on in the coronavirus crisis that they have yet to start planning for the first quarter of 2021, according to media buyers and marketers. While the focus on near-term planning is expected, some media buyers and marketers worry that a lack of long-term planning could have a negative impact on brands in the future.
“Moving from day to day or knee jerk reaction to knee jerk reaction [for the long-term] is going to be awful for a lot of people,” said Jeremy Sonne, managing director of performance marketing agency Moonshine Marketing. “You can do that short-term but eventually a lack of strategy and vision is going to put brands in a position to fail as they continue to just chase shiny objects.”