Our industries are under increasing pressure to maintain high performance in a time of accelerating change. In a world where business is managed both on short-term, quarterly performance and with a long-term vision for growth in mind, senior leadership faces pressure to make difficult prioritization decisions. A new executive mindset balances the value of short-term cost optimization and long-term brand investment.
Much has been written about maximizing profit through short-term cost optimization, and this strategy needs to be coupled with brand investment. Brands drive profit growth. Brands drive future growth. Most importantly, brands drive human growth. The first budget to be cut in a downturn and the last budget to be raised in strong times, let’s re-think the role of marketing. Today, it is more essential than at any time in prior history to create. Let’s acknowledge marketing’s opportunity to play that role in our ecosystems and look to our brands to inspire our shareholders, ourselves, and our neighbors to a brighter future.