The end of short-termism as we know it
With the earnings period and DiCaprio’s latest flick on Wall Street’s culture both grabbing headlines, it appears fitting to bring up the concept of short-termism. Some argue that quarterly earnings create an obsession for short-term thinking – at the expense of a long-term visionary approach that characterises strong and stable leadership.
Investors want to see quick delivery on their money and analysts are scrutinising sales figures. As a result, corporate leaders have little choice but to respond quickly and deliver on their firms’ promises as quickly as possible.
This debate also applies to influencer relations. Here, the need is very much for long-term thinking. For a long time, PR has been a profession of short-termism. You get an interview or issue a piece of content and you expect coverage later that day.
While this thinking still has its applications, it needs to be married with its opposite. If opposites attract, this integrated model between media relations and influencer relations will create a very happy couple. Those organisations who will master both will have the edge. Simple as that.
Adopting a long-term mindset is not always easy and it doesn’t come naturally to all. A meeting with a think tank, academic or a politician will not give you an instant result (or at least not in the vast majority of cases). But the meeting will bear fruit with patience. Cultivating a relationship over time can result in an invitation to a panel discussion, research partnership, the opportunity to debate in parliament, or being featured in a book or report. Those results don’t happen overnight, but when they happen they matter.
The discussion is also less about you or what’s happening right this minute. Rather, it’s about the issues that matter to the broader public. This, too, doesn’t come naturally to many people but when the narrative is right and it flows, you can become a game changer.
So, as part of long-term thinking, start thinking today about your narrative and whether it matters to many of us. If it does, you are in a very good place.
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This guest blog post was written by Michael Gonzalez. Michael Gonzalez is Head of Influencer Relations at LEWIS PR and has over 15 years’ journalism and PR consultancy experience. He specialises in influencer and media relations and talks regularly to high-level media, think tanks, academics and industry bodies. LEWIS PR is a global communications agency. In addition to traditional media and analyst relations, LEWIS specialises in social media, digital marketing and creative services. LEWIS has more than 25 wholly-owned offices across the US, EMEA and Asia Pacific, with regional headquarters in London, San Francisco and Singapore.