Resource allocation is one of the top-level levers for corporate strategy that inform business strategy and therefore the brand and marketing direction and approach. Apart from organisation-wide allocation, teams can also adopt thinking and tools to make resource allocation more efficient and productive for marketing programmes and campaigns.
Corporate strategy counts both resource allocation and strategic trade-offs amongst the components that organisations have to balance when deciding upon business strategy.
We have shared across several past articles that business strategy likewise informs the marketing strategy, direction, approach and programmes. Ultimately, the outcomes from the marketing programme and campaign has to support a business goal.
With this perspective, it is important for marketing teams to adopt a mindset towards making resource allocation for marketing programmes both efficient and productive – whether utlising a budget, talent or time resource.
For effective resource allocation to take place, managers and teams need to have a process for evaluating resources and distributing them amongst current and potential programmes and projects. The process should be structured by a plan that includes pre-decisions made on dealing with the expected as well as the curve balls. Curve balls are situations that require resources either as a matter of urgency or criticality and are usually non-negotiable.
Examples of these include crisis communications scenarios, or un-calendared sales projects that require creative or lead generation support.
Instead of a static, once-a-quarter refresh, the resource allocation plan must cater for priority, estimated completion time, amount of work required, extra time for the project, as well as a separate block of resources to cater to either being a buffer or an accelerant.
Upon encountering a priority project, managers and teams need to have an open and transparent discussion about allocating more resources to complete it quicker. Teams that practice transparency on a constant basis tend to benefit the most from such resource allocation discussions. The ability to express challenges and issues faced during execution can help the distribution process.
This discussion – guided by the resource allocation plan – can lead to a strategic trade-off discussion.
Parts of that discussion might go along the following lines:
“What else are we giving up, or potentially able to go slower on, in order to prioritise this programme?”
“Will the programme help us (marketing/brand/communications) support our business teams more effectively and in a SMART manner?”
There are some factors to consider when handling trade-offs, whether it is about marketing approach, creative angle, budgeting and when deciding between differentiation and incremental improvements.
Firstly, true differentiation requires being willing to bear higher risk in return for success. Sometimes, it might be easier to build on incremental improvements and analysis made in the past for some types of campaigns. These campaigns have already been proven effective, and despite drastic improvement of resources will not provide proportionally higher output.
Secondly, be aware of anchoring and loss aversion bias when building new budgets or refreshing current resource cuts for programmes. Last year’s or quarter’s budget can serve as a ready-made, justifiable anchor for other business unit’s to evaluate. However, take the time out to reflect on whether it is optimised for this year’s expected outlook, growth and return. Seek to avoid loss aversion that in turn reduces our appetite to take on risks or give up resources.
Finally, consider how limiting resources for a programme or campaign can empower the team. A limit can serve to provide focus on target audiences as well as controlling direct-impact areas instead of trying to over-plan, structure or execute across too many audience segments. Through the calmness of micro-targeting and improving on the parts of the product that provides value to the customer, they become more refined and better at achieving stickiness.
And for brands that are still new or still travelling towards critical mass, limited resource marketing can still provide context for audience segments, through dedicated sessions with influencers and connectors.
We are Brand Utility is a business consultancy. We work with brands in the corporate, professional services, retail, travel and technology spaces.
Our principal founder is a registered management consultant, certified and recognised by the Institute of Management Consultants Singapore.
We offer strategy and tactics to support growth outcomes - revenue, scale, regional expansion and market entry – for our clients.
Areas of support include:
· Strategic communications: Approach to market, brand concept and map, positioning, messaging, story and narrative, thought leadership
· Marketing: Campaign/programme planning, story-based marketing execution, digital marketing, community amplification, content planning and production, go-to-market execution
· Lead generation: Digital advertising, social media advertising, social commerce, e-commerce
· Integration of marketing with business operations: We plan and execute as a seconded marketing and/or PR lead for your brand
Discover more about our services at our website or book an exploratory consultation through this link.
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