Social Media And Marketing Myopia

Leadership expert reveals why long-term vision is critical in age of short-sighted business

Facebook, Instagram, SnapChat, Twitter, LinkedIn … the list goes on and on. There is no denying that social media has dramatically transformed the way we communicate, think and respond to information.
 
The business world is no exception – social media cultivates many positive aspects of marketing, providing a user-friendly platform for companies to establish their brand, target the right demographic, connect with consumers, advertise and make sales at lightning speed. 
 

However, when brands rise too rapidly with the help of social media, they can often lose sight of the business they're really in, as well as their long-term objectives. Unfortunately, this refusal to see beyond the short-term can lead to eventual failure. 

Social Media’s ‘Dark-Side’ for Businesses

Social media has reshaped traditional entrepreneurial thinking, creating more of a sense of urgency, immediacy, and a culture of short-sightedness in business – add to this the fundamental shift in consumer behavior and many entrepreneurs become more susceptible to “marketing myopia.” A term coined by editor Theodore Levitt, author of a marketing paper published in a 1960 edition of the Harvard Business Review, marketing myopia suggests that “that businesses will do better in the end if they concentrate on meeting customers’ needs rather than on selling products.”
 
According to Levitt, those business leaders who focus on their marketing strategy and, most importantly, the customer’s lifetime value, can strive to rise above myopia, especially with the use of long-term objectives and a big-picture focus. 
 
Another social media downfall that can blind long-term vision is that fact that entrepreneurs are also consumers at the end of the day. Business leaders are constantly inundated with ads to purchase sales software, marketing tools, and other products that promise to optimize their business processes. In addition, they also see their competitors reflected in the best light through their social media presence. This threat often limits their perspective and can result in a failure to adapt to the rapid changes in their markets, forcing them to make decisions out of fear. 

Short-Term Decisions Can Harm Long-Term Growth

For any company looking to acquire customers, maintain a positive reputation, and thrive over time, immediate short term revenue should not be the most important factor. When business leaders focus on long-term successes rather than short-term fulfillment, it can keep them better focused – and on their specified path – especially during times of chaos and uncertainty. It can also help monetize business success and create increased revenue opportunities.
 
Ironically, looking toward the future can also make entrepreneurs and business managers more conscious and thoughtful of the present. It encourages leaders to be strong, calm, and kind. With today's sense of urgency, this aspect is crucial for business success. 

The Bottom Line

Research confirms that many business leaders are likely to make decisions that may have adverse longer-term effects to meet short-term goals. However, business success is not only affected by the decisions and actions you take today but how those choices will ultimately impact your business in the long-run.

It’s vital that business leaders push past social media routes that deliver short-sighted wins. Companies with a long-term perspective seek different measures, such as purpose and goals, to assess whether they are on the right track.

So, how can you ensure what you do is the right decision, and not what will merely hit immediate expectations and targets? Start by recognizing short-term objectives for what they truly are – baby steps to achieving long-term goals. 

To ultimately achieve sustainable, long-term success, organizations must continually reexamine their ultimate sense of purpose and ensure that the company serves it well over time.

Carew Papritz is one of the most innovative authorpreneurs of the 21st century, having been compared to the likes of Elon Musk in his approach to book marketing. With a background in Hollywood filmmaking, Papritz understands the art of drama and showmanship as seen through his numerous videos on “CarewTube.” Papritz promotes his award-winning inspirational book, The Legacy Letters, by creating numerous dynamic, attention-grabbing publicity stunts which are whimsical, fun, and most importantly, effective. From his unique series of “First Ever” book signings – on top of volcanoes, on horseback and in post-Castro Cuba – to his annual literacy-driven charity event, “The Great Book Balloon Launch,” Papritz is making an impact in his industry for being an advocate for literacy and teaching future generations about the importance of legacies. Visit http://www.carewpapritz.com Connect Carew Papritz Follow @CarewPapritz