For David Khoshpasand, focusing on short and long term marketing planning will yield better strategic results and give marketers a long-lasting brand. This is why his Shiny New Object is the book “The Alchemy of Growth” - with its three horizons of thinking.

David is the Amazon Performance Marketing Manager at Hasbro, where he implements the learnings from the book by Mehrdad Baghai, Steve Coley, and David White on a regular basis.

Turning one horizon into three

Instead of only focusing on short-term profits, marketers and businesses more widely need to look at a pipeline of initiatives and three horizons concurrently.

Firstly, the immediate term is represented by the core business - day-to-day work based on data driven marketing and consumer insights.

Secondly, the near-term business is covered by looking beyond the profits and market share, to the next few years.

And thirdly, the third horizon is represented by growth opportunities that will help brands endure in the next 10 years and beyond.

These three need focus at the same time or on a rolling basis, with marketing leaders asking the question: “Where am I lacking in terms of future attention?” regularly.

Testing and growth

The long-term growth is driven by testing and innovation, according to David. This cannot be done in isolation, though. While focusing on the core business and on profitability, brands need to continue to draw consumer insights and use that data to test growth initiatives. These can be new products, expanding existing product lines, or even going more boldly outside their core offering.

A great example of this is Disney - how the brand evolved from the cartoons into theme parks, retail, and now streaming services. At no point did the core business stop - but the strategy was driven by continuously juggling the three horizons.

The host of the Shiny New Object podcast is Tom Ollerton, founder of Automated Creative.