What is Marketing Resource Management | MRM?
Marketing Resource Management
Definition & Resources
SUMMARY
Definition of Marketing Resource Management (MRM)
Who uses MRM Solutions?
MRM Solutions Options
Benefits of Marketing Resource Management Software (MRM)
Results after implementation
Preconceptions
Definition of Marketing Resource Management (MRM)
Marketing Resource Management Solutions enable large marketing teams to control their budgets easily, link recurring campaigns to strategic initiatives, manage processes that include suppliers and agencies, centralize collaboration, marketing calendars, and management of digital resources. (Source: Gleanster)
In other words, MRM solutions are a category of marketing software that allows companies to simplify, automate and evaluate their marketing operations. They help organizations to increase productivity, optimize internal processes and increase revenue.
One of the central elements of these operations is the management of digital resources. By management, we mean: creating, storing, organizing and sharing resources. These digital resource management solutions also integrate workflows, calendars for planning different marketing operations, and integrations with external management tools. Among these tools, we can mention e-commerce platforms, CRM, Marketing Automation solutions, ERP, etc…
Who Uses Marketing Resource Management Solutions?
Companies of all sizes and all industries use MRM solutions.
Here are some sectors for your information: Media & Agencies, ready-to-wear, finance & insurance, travel, e-commerce, education and NGOs, technology & communication, chemistry, energy & agriculture, consumer goods, logistics, automotive, etc.
Larger companies have long used marketing resource management solutions. These platforms are a continuation of Digital Asset Management solutions but include more modules covering a broader spectrum of digital asset management (project management, branding processes, etc.). With the rise of SaaS software, these solutions have become democratized and ultimately used by smaller organizations.
The Different Modules of a Marketing Resource Management Platform:
Marketing Resource Management solutions include modules of:
Digital Asset Management: Store, organize and share all of your digital data.
Creative Project Management: Simplify and automate creative processes.
Brand Identity Guidelines: Organize and share your chart of contents to ensure brand identity across all channels.
Web-to-print: Automating the creation of new marketing materials
Product Information Management: Connect your digital resources to different information about your products.
Brand Store: Order New Custom Marketing Materials
Budgeting & Planning: Prepare a budget, schedule and assign tasks
Statistics: Measure the results of your campaigns and calculate your return on investment
The Benefits of CRM Solutions:
The marketing ecosystem is complex, making the management of different projects difficult for marketing teams. In this context, the benefits of marketing resource management solutions are multiple:
Reduce the Time-to-Market of Marketing Materials:
With workflow modules, you can simplify your communications and collaboration between your internal and external teams. This means you can create content faster and better.
Store, Share and Manage your Content Securely:
Sharing digital files via traditional channels (email, online sharing tools, etc.) can sometimes lead to information leaks. While with a marketing resource management solution, you can not only set rights to specific files but also add watermarks or revoke access to file collections. In summary, you will be able to maintain absolute control over the use of your digital resources.
Improve your Marketing Investment Returns:
The work of marketing teams is far from over once the content is created. Then you have to measure the impact of the different campaigns launched. MRM software helps you measure the creative time, costs and quality of marketing resources imagined by creative teams or external agencies. This will allow you to adapt your strategy to increase your return on investment.
Automate your Branding Processes:
Without a central system, it’s hard to ‘scrap’ your branding and stay in control of all your branded content. The modules of Brand Identity Guidelines ensure the standardization of your brand image. Web-to-print modules will simplify the process of creating marketing materials. In other words, your teams will spend less time creating and approving new content.
The Power of Marketing Resource Management Solutions:
When you build a business case in MRM software, it is important to define the problems you may face so that you can properly evaluate the solution that will allow you to answer them. Here is a general overview of how Best CRM Software or platforms can help you achieve the points outlined above:
Increase your Return on Investment Marketing:
Reduced Expenses For Poorly Performing Campaigns:
Allowing your teams to focus on campaigns with high ROI (return on investment)
Reduce Unnecessary Expenses:
Planning and budgeting tools provide more transparency in controlling your expenses
Reduce Expenses On Campaigns That Are Not Aligned With Your Goals:
Planning modules enable marketing departments to align with their marketing strategy
Improve Productivity:
Improve productivity by launching more campaigns: By centralizing communication and collaboration in creative processes, workflow modules reduce your time-to-market
Reduce Time Spent On Compliance Issues (Legal, Legal, Etc.)
Reduce Company Costs.
Simplified Content Creation Process Reduces Time to Create and Edit Content:
Reduce retouching costs and avoid duplicates: your Digital Asset Management module will help you reuse existing resources
More Transparency compares with other Companies:
Marketing resource management solutions allow your marketing teams to measure how much time an agency spends on creating your content.
Reduce General Expenses:
By having the possibility to measure the efficiency of an agency, you have many tools to choose the right partner and control your expenses.
Reduce Waste and Improve the Reuse of Your Available Resources.
Reducing Delivery Costs:
In the web-to-print module, marketing departments can be connected to the most suitable print providers, depending on the location and quality of their work, allowing significant time savings.
Reduce the Cost Of Using Paper:
With the required approval rounds on the platform, you can ensure that your teams do not make mistakes in ordering media.
Preconceived Ideas around Marketing Resource Management Solutions:
With many features, some of which are similar to other marketing technologies, it is easy to get lost on what is marketing resource management software. Here are some of the misconceptions about MRM:
# 1. MRMs are Strategic Planning Tools:
While MRM solutions help you ensure that your marketing campaigns are coordinated, controlled, and monitored, it’s not possible to plan different opportunities and prepare different scenarios. These features are only available in Business Performance Management solutions but can easily be integrated with marketing resource management solutions.
# 2. Marketing Resource Management Solutions Are Only for Marketing Departments:
Although marketing departments are the first to be impacted by MRM software, internal process optimization makes collaboration with other departments easier, leading to increased revenue globally.
# 3. MRM Solutions Can Be Implemented In No Time:
MRM software changes existing structures and processes; therefore, implementation takes time. This includes training and strong involvement of the people responsible for the project to promote the adoption of the system by the end-users.
# 4. Marketing Resource Management = Digital Asset Management
Many believe that MRM solutions are extensions of Digital Asset Management (DAM) solutions. DAM Software or platforms focus on pure resource management (storage, organization, sharing), while MRM solutions cover the entire lifecycle of resources, from design to distribution.
Want to know more about CRM solutions? Read the ultimate guide to managing marketing resources. You will learn the features of MRM solutions, how to build a business case, the essential steps before choosing your MRM, how to get the most out of these solutions and the future of MRM.
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