To avoid Marketing Myopia, we need to balance short-term quantitative metrics with qualitative metrics to get a full understanding of what we are doing. That way, hopefully we can’t be blamed for creating the next Jonas Brothers…
It’s a great monologue, explaining how marketing is to blame for the stupidification of culture, by encouraging us to worship youthfulness and ignorance.
However, I’m not sure about his logic of selling to younger people “so that they buy stuff for their whole life”; actually, marketing is much more myopic than that. This quarter’s targets are usually too important to worry about a customer’s lifetime value.
Instead, I would say that it’s actually the malleability of young minds that has always made them attractive to the Ad Men hungry for quick wins.
Part of the problem is that nearly everything we measure (sales; visits; click-through rates) is short-term. If we are to move beyond making a quick buck and start building value, then marketing and social media metrics needs a Balanced Scorecard, which is what our PESH model is aiming to do. Measuring participation and advocacy scores is then as (or more) important than measuring direct clicks and sales.
Everything seems to be moving at breakneck twitter-speed nowadays, but building genuine value and relationships still takes time.
The alternative is more viral videos… of the Jonas Brothers… wearing Crocs. And nobody in their right mind wants much of that.