Marketing resource management (MRM), the coordination of people, processes, and assets for marketing, is evolving in response to a rapidly changing marketing landscape, and MRM software and applications are changing as well.
MRM software helps users to create and execute marketing campaigns, balancing flexibility and agility with maintaining a consistent brand identity across all channels.
The MRM market is expected to double, from $4.46 billion in 2015 to $9.01 billion by 2020. As companies across industries adopt MRM tools, new applications and technological advancements will lead marketers to use this software in new and exciting ways.
In 2019, MRM software will help marketing managers to achieve:
1. Brand Consistency
The importance of multichannel marketing increased the complexity of maintaining a consistent brand identity. Online and offline, print and digital, email and social media – all channels require a different approach, but without a steady voice, the brand can easily compromise its identity.
MRM software in 2019 will emphasize tools that help marketers establish and maintain brand consistency across a variety of channels and throughout distributed geographic locations. These tools may include a centralized media bank, from which local marketers can draw pre-formatted assets with limited modifications; or a brand management dashboard, where a centralized brand manager can review assets created for local markets to ensure brand consistency.
2. Increased Agility
In a rapidly changing business environment, an organization’s success often depends on agility – fast, effective responses to environmental changes. MRM software that reduces the time required to launch a new product or campaign increases a company’s agility and therefore, provides a competitive advantage.
2019 will bring a greater emphasis, and interest in, the tools that MRM software and applications provide to shorten cycles that improve marketing flexibility and agility. MRM software helps to reduce cycle times by unifying and automating processes while streamlining and improving efficiencies throughout the marketing department. Some tools that will enhance cycle times include automated approval processes, email campaigns, and SEO optimization activities.
3. Reduced Cost and Improved ROI
Standardizing processes, automating tasks, and eliminating redundancies all save organizations time and money, reducing the costs of marketing efforts and improving the measurable ROI of marketing campaigns.
In 2019, MRM software will offer more tools related to reducing the cost of marketing campaigns, as well as more refined data analytics capabilities to improve assessments of existing marketing efforts and apply that information to future campaigns.
Data analytics tools will include interactive dashboards that provide an overview of trends or drill data down to the granular level for in-depth investigation. Artificial intelligence will be incorporated to create predictive models for future campaigns based on the effectiveness of current efforts. Reporting will become more refined, tracking KPIs and integrating predictive analytics, making strategic planning and coordination an exercise backed by verifiable data.
2019 is expected to be another challenging year for marketing managers. Shifts in consumer preferences, the need for omni-channel strategies, and the growing expectation for hyper-personalized, emotionally relevant brand interactions have made agile marketing a competitive requirement.
While adopting an MRM software solution can help marketers to create campaigns more efficiently, these robust platforms can be expensive and challenging to implement. Marketers are turning to alternative solutions, like distributed marketing platforms, to improve the effectiveness of every marketing campaign, from headquarters to the local level.
CampaignDrive is a distributed marketing platform designed to help improve brand compliance, increase agility and improve the ROI of marketing assets for multi-locational. Our flexible marketing platform allows corporate marketing and design teams to upload pre-approved branded assets for local teams to leverage at a regional level to streamline marketing asset creation and improve consistency. Corporate teams also gain visibility asset performance on key assets to optimize marketing spend and drive better results.
Request a demo with our expert team to discover how CampaignDrive can help your distributed marketing team become more agile