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MedTech Outlook | Monday, March 14, 2022
The best marketing resource management software integrates with, accelerates, and eliminates manual processes, freeing up team resources and reducing clutter in the martech stack
FREMONT, CA: Marketing is becoming an increasingly complicated beast, and the average marketing stack is on the verge of collapsing. A typical marketer performs multiple roles: content, promotion, social media, sales, data management, and management. Simultaneously, they're staring up at a dilapidated tower of solutions, each of which promised to improve their lives.
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It is more than a scale issue. Inadequately defined and overlapping software can have the opposite effect of what was intended, adding complexity, causing delay and confusion, and impairing marketers' ability to demonstrate their value and deliver results. Thus, the last thing marketers require can be additional software. However, they could likely benefit from a more intelligent approach to marketing resource management (MRM).
As with much else in the rapidly evolving martech landscape, MRM is not well defined. MRM software is frequently built on digital asset management (DAM) or marketing asset management solutions. This can be enhanced by modules that manage brand assets, creative workflows, collaboration tools, and budgeting. Notably, MRM solutions facilitate integration with existing software, integrating different processes and data streams into a centralized workflow. Numerous platforms and apps can be automatically updated with new data—and sometimes even omitted entirely. Not only does this aid in the harmonization of fragmented processes and the maintenance of consistency, but it also simplifies the work of marketers.
Controlling marketing assets is a critical function of any MRM software. Modern marketing is predicated on establishing a distinct brand identity and communicating and supporting it through consistent, high-quality media. A typical marketing team may have thousands of logos, photos, videos, copy blocks, templates, and other assets—all of which require meticulous management to ensure that everyone is on the same page.
MRM platforms that include a brand asset management feature serve as a centralized repository for marketing materials. They enable marketers to store, organize, and retrieve assets orderly as they are created, approved, and iterated. Today's cloud-based systems effortlessly support distributed and collaborative work patterns, integrating all stakeholders into the flow. Version control with in-line commenting enables marketers to share and promote only finalized content. Regardless of the size of the business, whatever it does, or where it operates, the brand is its most valuable asset. MRM contributes to the protection and strengthening of brand identity by ensuring the integrity of assets—both during their creation and use.
Beyond asset management, marketing resource management software provides numerous benefits. Numerous platforms include features that streamline the creation, iteration, and approval of marketing assets, further reducing waste and accelerating time to market—for instance, built-in templating speeds up creating new documents and other media. Additionally, requiring the use of approved, bespoke templates, it assists in ensuring that new materials are manufactured to specification. This stringent quality control is maintained throughout the asset's life and even after archived. Asset management features such as version control and integrated approval eliminate any ambiguity regarding live, approved, or public assets, preventing costly or embarrassing errors that could dilute the brand's identity or message.
MRM platforms also support other critical marketing functions. This frequently includes planning and scheduling capabilities that assist marketing leaders in executing campaigns and optimizing inbound performance. Meanwhile, workflow management modules assist in organizing and focusing activities, thereby accelerating results and delivering efficiency savings. Certain MRM platforms include budget management modules, which enable marketing leaders to gain visibility into campaigns and other activity costs. Other dashboards may enable easy visual and tabular oversight of critical performance metrics—critical for measuring and managing the effectiveness of campaigns, inbound marketing, and other initiatives. By enhancing insight and enabling cost-benefit analysis across all marketing activities, MRM software can help drive efficiencies and increase the return on all marketing activities.
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