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How efficient and fast are your marketing processes? Do you spend too much time searching, controlling, managing and communicating instead of adding value? Then we will show you the solution as part of our series titled The Next Generation of CRM – may the MarTech be with you: Marketing resource management software!
Whether B2B or B2C – marketing campaigns are becoming more and more elaborate and complex, taking place on an increasing number of channels. This poses new challenges to marketing experts, especially in terms of the efficiency of planning and implementation, as well as the associated collaboration and management. As in many other areas, the solution to the problem is: Software and automation. More specifically: Marketing resource management. By solving common marketing control problems, MRM tools make marketing management and operations more efficient.
But what are the characteristics of an MRM solution? Which functionalities should necessarily be included in the scope of a solution, and which functions are optional? How to find the right tool? And how is MRM actually implemented?
Which core functionalities must an MRM solution have?
Essentially, you can use the following components in an MRM solution:
- A planning component
- A workflow component (organization)
- A monitoring component (analysis and evaluation)
Each of these components is responsible for specific sub-processes which can be viewed independently of each other:
Planning component
A powerful planning component covers the following areas:
- Campaign planning and creation
- Budget planning
- Target group planning
- Channel planning
With MRM software, you can create campaign templates individually and use them for future campaigns, similarly to a campaign library. That saves time. With the help of a marketing calendar function, your entire campaign team always retains a clear overview of current and future campaigns in variable granularity, and can compare them with historical campaigns.
Workflow Component
In an integrated workflow component you create tasks, assign them to yourself or others, and control them. This makes it possible to recognize, filter and control aspects such as the following at a glance:
- Timing
- Responsibilities
- Status of tasks
- Status of campaigns (e.g. implementation started", "released", "live", "overdue", "terminated", etc.)
Monitoring component
Finally, the monitoring component offers important analysis, evaluation and reporting functions providing transparency about your activities with the help of dashboards or configurable reports, for example.
In an MRM solution, you can naturally configure all your marketing objects (e.g. actions, campaigns and programs) in hierarchical structures. In addition, the solution offers an individually configurable role and rights concept for internal and external participants (e.g. agencies) as well as GDPR-compliant hosting and storage of personal data.
What are the optional functions of MRM solutions?
The extended functional scope of an MRM software includes, for example, integration of actual costs for your controlling. Comparisons of current budgets with past periods on the basis of target and actual costs vary in terms of scope, depending on the solution and connection. The following options are also available:
- Central storage of media assets in an integrated digital content management (CMS) or digital asset management (DAM) system
- Use of an integrated product information system (PIM)
Technical integration (uni-directional or bi-directional) of campaign creation in the MRM tool with technical campaign creation / execution in a marketing automation tool or campaign management system so far remains an optional feature, although this would be desirable, with regard to processes, in a state-of-the-art MarTech architecture. Some solutions also offer features such as the following:
- Integration of channels in addition to e-mail, e.g. social channels
- Media planning directly from the MRM tool
- Control and monitoring of the occupancy of digital and analog advertising spaces, for example, in web shops and stores
Additional functions not listed here, such as, performance optimization etc. are naturally conceivable, usually as part of customizing.
How do I find the right MRM solution provider?
Many of the developed MRM tools have different functional or technological origins, so that the available depth of functionality can vary. Out-of-the-box features are juxtaposed with tailor-made, individual developments.
By preparing use cases relevant for you and your organization, a suitable overview of requirements for your tasks, and a comprehensive overview of MRM providers, b.telligent supports you in finding the right MRM vendor.
What do I have to pay attention to during implementation?
Important for implementation is an experienced service provider who has an end-to-end view, and is able to recognize and technically fulfil your professional requirements, besides performing integration into your company's MarTech ecosystem.
An MRM solution is usually implemented in a typical project workflow. Based on an agile methodology, b.telligent here aims to work in the tool as quickly as possible, and configure requirements there appropriately, so that you and other users can learn how to use the tool in the shortest possible time.
Have we aroused your curiosity, and is it time for MRM in your marketing department?
