How a Shared Central System Helps Reduce Errors in Marketing Content
The MRM systems space will grow 15% each year for the next five years, with expectations to reach $9 billion by 2020. The growth is attributed to the desire for cloud-based platforms that better organize brand assets, allow marketing teams across an organization to stay consistent with brand guidelines and retain compliance, and help streamline approval processes. The gains in speed, efficiency and cost savings through Marketing Resource Management systems also benefit business marketing materials themselves.
Here are four ways MRM improves marketing materials:
- Improve Consistency in Marketing Materials
From distributed marketing networks with multiple franchises across various geographic locations, to companies with one main marketing team executing a variety of campaigns, all businesses benefit from having a centralized digital location where assets and marketing materials can be housed. By utilizing MRM software, your company can keep marketing materials consistent by:
- Using pre-approved stock photos or designed graphics
- Standardizing branding colors and pallets
- Repeating core messaging to the correct audience
Wells Fargo is a great example of consistency with marketing materials. They keep their branded communication bold and traditional, aligning with their proud history of more than 150 years of banking success. Wells Fargo’s marketing materials and campaigns focus on their core values: strong ethics and customer satisfaction. You can easily find references to these values in their marketing materials and slogans, such as “Together we’ll go far” and “The next stage”.
Using consistent marketing materials allows Wells Fargo to use the same font, color, and logo across all marketing platforms. Their symbolic stagecoach is recognizable and the message is clear. Today, Wells Fargo is the 23rd largest company in the U.S.
With MRM systems, sometimes also referred to as MAM (marketing asset management), marketing materials are produced more quickly and disseminated for testing across markets. This improves the speed and efficiency in gleaning insights that can provide valuable feedback for marketing materials to be improved in the future.
Marketing resource management software makes it easy for marketers to organize their marketing materials any way they want, so they can see trends in marketing successes based on specific materials used. MRM systems also allow marketers to return to past campaigns and improve and refine them based on current needs.
Local markets and independent vendors won’t be creating marketing materials that fall out of line with corporate brand standards, providing a seamless brand experience that still allows for localized messaging.
- Improve Marketing Materials for Local Messaging
Because marketing resource management gives local and independent arms of a corporation clear expectations about brand guidelines and compliance standards to uphold, local marketers are better able to focus on using those specifications to support targeted messaging. They can save time on having to go through approval processes because they’ll already have access to corporate-approved templates and begin to market to local audiences. By utilizing templated materials, marketers at a local level can drop in pre-approved images, customize copy and insert offers aligned to the nuances and preferences of customers in their area. MRM enables a brand to maintain its core look and feel while addressing the demographic differences in age, culture, etc., appropriately.
Target is a great example of a large brand utilizing marketing materials to appeal to a local audience. The brand realizes that guests may not know the full impact of their community efforts, so they are creating marketing campaigns directed toward locals in the communities.
Jeff Jones, Target’s Executive Vice President and Chief Marketing Officer states, “We want our guests to see and feel that when they shop at Target, they’re part of something bigger than a transaction,” said Jeff. “We knew an authentic campaign, that builds brand love and shows the real stories of how our team members are changing lives across communities and areas of our business, could make that happen.”
From its sleek store designs to its popular commercials and other promotional spots, Target works to establish themselves as the only high-end discount store for locals. With their consistent color scheme and charming commercials that humanize the large company, customers begin to develop a bond and sense of loyalty with the brand.
- Decrease the Probability of Costly Legal Issues
Every business has compliance standards that must be met in order to protect its product, employees and customers. Especially for industries such as those related to healthcare, government and banking, compliant messaging is of utmost importance in order to remain in business. MRM software helps businesses follow legal regulations.
MRM systems allow businesses to not only upload brand-compliant templates to a centralized portal, they give businesses a space to share the latest versions of brand guidelines, compliance trends related to the industry, and ensure marketing materials abide by legal standards. Marketing resource management could save some businesses potentially millions of dollars related to legal issues by using marketing materials with the wrong imagery, wording, etc.
With greater visibility into marketing operations because of a shared central system, mistakes in marketing materials are reduced. Approvals are more efficiently managed, and help guarantee errors that could potentially damage the brand, including messaging that is not compliant to regulations, are not disseminated in marketing materials.
The availability of branded templates that have already been edited and approved gives marketers the peace of mind to know what they’re distributing is corporate-endorsed and designed within brand standards.
- Bolster More Creativity Among Employees
Because of the cost savings accrued through improved efficiency and the elimination of slow and outdated tasks, marketing teams are able to be more creative when devising marketing materials and new campaign ideas. They don’t have to worry about mundane duties involving approval and compliance. They can focus their skills on crafting engaging messaging, graphics, videos and more.
The 2014 State of Enterprise Work Report study conducted by Harris Poll found employees spend less than half of their workday on primary job duties. Excessive email, conflicting priorities, lack of communication, lack of standard processes for workflow, and ineffective team collaboration were all cited as distractions that decreased productivity. MRM systems eliminate these distractions so that marketers can focus on what should be their core objectives.
With MRM systems, the sharing of ideas throughout corporate and with local markets and independent reps is increased because various key stakeholder have access to marketing materials and are able to contribute their input. Employees from departments including operations, legal and finance may all be able to improve marketing efforts if they’re involved in the process, and MRM software better enables their participation with quick access to various assets.
Markets may get inspired by local campaigns in other markets and use those techniques to apply to their own marketing materials. Improved collaboration allows all markets and representatives to get on the same corporate page while also feeling empowered to share and improve on ideas.
- Improve Consistency in Marketing Materials
Upgrade Your Marketing Materials with Strata’s Cloud-Based MRM Software
Strata’s MRM systems are the industry leader in helping businesses gain greater control of their brand, content and operations. We help mid-sized businesses to global enterprises operate more quickly and more efficiently, saving money while improving products so businesses can better satisfy their customers. Our flagship solution, MarCom On Demand, has helped hundreds of businesses just like yours improve their marketing materials with the help of marketing resource management.
With custom solutions to fit any business need, call us for a free consultation on how we can help you, at 610-941-6100. Or, contact us for more information.