The role of additional resources in marketing?
Hitesh Kalro
Educator, Trainer, Mentor, Marketer, Researcher, Consultant - Innovation, Digital Marketing and New Product Development, and a budding entrepreneur
The last few years have really changed how marketers perceive their job responsibilities. Whether due to the pandemic or due to the war, the world of marketers is not the same as it was just a few years ago. One of the key difference is the cost/benefit analysis that marketers have to do and look at this analysis with a fine tooth. As there are limited resources and the cost of advertisements again on the rise, it is getting challenging for marketers to spend resources as freely as they could do earlier. Therefore, creating a good marketing budget has become quintessential responsibility of the marketer.?For example, marketers now have to be sure of their marketing budgets on which channels and what would be the output of these investments. Marketers have to also look at the efficacy and efficiency of the sales team and the effort put by them. And, marketers have to create the budget a year in advance and present it to the key decision-makers and get approval for the next year. Furthermore, anecdotal evidence suggests that the first budget that takes a hit in hard times is marketing department.?But what if there is a firm, in which the top decision makers says to the marketer that if this budget that you have created, isn’t sufficient in the coming year, we can provide you with some additional/slack resources for the marketing activities that you have planned for the next financial year. Thats great news, right? But the question is whether you would want to have such a choice? The most prevalent assumption is that additional resources leads to better campaigns and hence a higher probability of more sales. But there are two mindsets. First, a fire-fighting mindset, i.e., if marketers do not get more resources then they will do whatever it takes to achieve the objectives planned for the next financial year,?with the current budget in hand. In contrast, the other popular belief is that more resources can make the marketer laid back and think that if we fail this is not a concern as there is a safety net, as there are some additional resources in our kitty.?