Admation In Depth
Managing marketing resources with MRM software
Marketing resource management (MRM) is experiencing a renaissance of sorts. Not that the software necessarily went out of vogue. It’s been humming away in the background enabling marketers to manage their marketing resources with greater efficiency. Nonetheless, MRM has recently become a hot topic of discussion as experts re-evaluate its capabilities. So what should marketers be looking for in an MRM tool to keep pace with their complex roles?
First, let’s take a look at the common challenges marketers encounter when planning and scheduling for marketing projects.
In many cases marketers need to be multi-skilled practitioners, able to move from one type of marketing campaign to another in a single bound. With this comes the responsibility of managing a team of creatives who need to produce quality and timely content. If it sounds exhausting, then it probably is in the absence of the right marketing tools.
Here are some of the top challenges:
As marketing becomes more complex, the needs of marketers change. That’s why there’s been a lot of buzz around Gartner’s new definition of MRM 2.0 which now includes a breakdown of these three categories:
While the term MRM 2.0 isn’t necessarily beholden to one software solution, it makes sense that the ultimate MRM is a system that considers the whole production cycle and associated marketing tasks. Think: resource management integrated with project and approval workflow management, digital asset management (DAM) and reporting tools. With its growing popularity, MRM has been forecasted to bring in a whopping US$9 billion by 2020.
It doesn’t make sense that marketers who are already time poor are adopting multiple solutions to manage their resources and marketing projects. In actual fact, one system can do the entire job.
Here are the kinds of features to look out for when selecting a comprehensive MRM:
Approval workflow management
Digital asset management (DAM)
It’s one thing to understand MRM’s innovative features, but what you really want to know is how it can change your work life for the better. Well, here it is:
On the other side of the fence, here are the risks associated with not using an MRM tool:
Your workforce wastes precious time looking for brands assets because you don’t have a central suppository.
At Mumbrella 360 this year, a session on ‘Marketing Operation Platforms – Why are ancient practices still in place’ unearthed an interesting trend. The panel which comprised of both brand and agency representatives all favoured a local vendor over an international one. The reason? It seems that having access to a development team in real time delivered more value for buyers who had the added benefit of upgrading features to suit their unique requirements. So buy local is one consideration when selecting MRM. Here are a few other important factors to think about when selecting MRM that’s right for your marketing needs:
• Is the system user-friendly?
• Will it be easy to implement?
• Does it manage all the different file types you require?
• Is it cloud-based? (Remember, you’ll want remote access)
• How much will the software cost?
• Does it offer agility in terms of feature upgrades?
• Make sure the vendor offers adequate onsite training.
So we’re nearly there. You’ve selected your MRM software, but how do you ensure that the implementation process goes as smoothly as possible? Here are our top tips:
And there you have it – everything you ever needed to know about MRM software.