Implementing MRM Software Can Boost Your Profits
Jodie Byass — Sunday the 14th of October, 2018Tweet
It’s one thing to sing the praises of MRM software and its multiple features, but how does it impact your bottom line? As previously outlined, today’s comprehensive MRM provides a one-stop shop to manage marketing resources and projects, from briefing all the way through to final production. Let’s take a look at how implementing MRM software can save you money and boost your profits.
1. MRM enables marketers to put the focus back on creativity rather than resourcing and admin.
According to ADMA : “Without a centralised approach, marketers can quickly sink too much time into administrative tasks. This takes people away from their core function of working strategically and creatively to directly impact customer satisfaction and business success. Implementing a unified system can reduce the administration workload, helping to drive better results and profitability.”
This is how MRM reduces repetitive work for marketers:
- MRM’s centralised dashboard enables users to ascertain where project tasks, resources and approvals are at in just seconds.
- All briefs and project documents are saved in the same online location so you don’t have to go searching for items in three different places.
- Inbuilt resourcing tools expedite the process of planning and allocating tasks – yes, spreadsheets are finally a thing of the past.
- An approval workflow management feature routes approvals faster and more effectively through the right channels – your creative team won’t be left guessing about feedback. Watch your artwork versions reduce overnight.
- Resources can refer to the inbuilt resource planner to see what allocated tasks are already planned for the day/week/month.
- Task re-assignment tools allow you to re-assign tasks when someone calls in sick or an urgent project arises in just a few clicks.
Recommended reading: Why is MRM software increasingly important for marketing teams today?
2. A comprehensive MRM can replace standalone solutions saving on time and licensing costs.
A few years ago Winterberry Group’s research report unearthed that more than 50% of marketers are utilising five to ten different marketing tools at any one time. If you could take that number down a few notches, why wouldn’t you? It makes sense then to implement one comprehensive MRM that enables you to manage your marketing projects and resources from end to end.
Shannon Duncan, Creative Operations Manager from Endeavour Drinks Group, saw the direct benefits of switching from multiple tools to just one comprehensive solution to manage their marketing campaigns: “We had about five platforms the team was working on prior. It’s definitely saved us money in terms of operating costs with licensing and resourcing.”
This is what a robust MRM can offer you:
- Resource management
- Time tracking and online timesheets
- Task and project management
- Document management
- Approval workflow management
- Digital asset management (DAM)
Recommended reading: Is juggling multiple project management tools good for business?
3. Greater brand consistency with MRM promotes customer loyalty.In today’s heavily regulated environment, brands can’t afford to take a hit to their reputation or pockets. With inbuilt DAM, your creative team (both onsite and in remote branches) always have access to the most current brand assets and guidelines. In addition, MRM automatically saves final, approved artwork so there’s no risk of confusing it for an earlier version and it going to market with the wrong branding. Managing all resources and documents from a central system also creates an automatic audit trail of work so that you always have a working history to refer back to. At the end of the day, a brand that is seen as trustworthy in the public’s eye is more likely to retain customers and attract new ones.
4. Track and optimise performance for better returns.
MRM has an inbuilt task timer so that resource expenditure can now be accurately tracked. This means you have visibility over how long it takes to complete certain work. If a task is taking a resource longer than expected to complete, you can see it and look for solutions to improve productivity. With MRM’s reporting tools, you can also generate a weekly report that shows you a summary of how tasks and resources are tracking to ensure that your marketing team are working at their optimum.
Stick around. Next week we’ll look at how you can make a business case for selecting and implementing MRM software.