Transform to a long-term mindset
One crucial point is that long-term preference does not necessarily result in loyalty. While a consumer may consistently prefer a particular brand over time, it does not guarantee brand allegiance; things like changing market dynamics, evolving consumer preferences or competitive offerings can all influence long-term preference and potentially lead to shifts in brand loyalty.
Instead of viewing these as separate entities, marketers should recognize them as interconnected aspects of consumer behavior and adopt strategies that address both. Start by allocating a portion of the total budget—up to 25% initially—to brand-building activities—content marketing, brand storytelling or customer engagement initiatives—to strengthen brand equity and market presence over time. Shift focus from conversion to customer lifetime value.
The primary pitfall of having a misalignment of short-term goals with long-term KPIs is that you never really put brand equity strategies into action. You continue to focus on the close-in and lose sight of the horizon.
