Working in the wireless industry, I have seen my share of different marketing campaigns, both successful and unsuccessful. In such a competitive industry, marketing is in the center of attention of all major players and significant amount of resources is allocated to it. One of the most interesting techniques that recently has caught my eye is an inverse allocation system. Using this method, rather than providing the marketing team with a goal and a budget, the marketing team is asked to estimate the cost of a campaign that would achieve the desired result by the company. The estimated cost provided by the marketing team is then compared with the company’s allocation plan and if needed, necessary adjustments are made, and in some extreme cases the plans are completely modified. This system is proven to work best for launch of new products. The added benefit of this method is that it puts the product into a preliminary test by the marketing group, showing their predictions of how it will be received in the market, if the company’s prediction are realistic and finally if major changes are required. This decreases the possibility of releasing a product or launching a marketing campaign that is doomed to fail and helps to make the whole process more efficient and successful. The main draw back of this system is its lengthy process which makes it impossible to use for products that race against time is essential to their success.
Well thought out and different from so many others!