Using Marketing Process Management to Reduce Costs

Using Marketing Process Management to Reduce Costs

Marketing Processes That Benefit from MRM Software

A study by the Boston Consulting Group of U.S. and European companies found from 1997 to 2012, the number of procedures, interface structures, decision approvals, and project coordinators increased between 50 to 350 percent. As businesses have access to more information and the agility to create more marketing initiatives, they often convolute marketing processes instead of streamlining them.

Gartner stated in 2015, “managing business processes effectively is a difficult challenge for today’s business leaders, because many of the systems that are used within processes are rigid and difficult to change rapidly.” Instead of managers spending up to 60 percent of their work hours in time-wasting coordination meetings, marketing process management (MPM) aided by marketing resource management software allows key stakeholders to focus on creating and executing.

The need for project coordinators is reduced, and employees are able to work more efficiently and cohesively. MRM systems make processes more manageable, saving enterprise businesses money while increasing productivity.

Marketing Processes That Benefit from MRM Software

Large enterprises face common challenges in terms of marketing processes that require unique solutions. For companies with the following characteristics, marketing processes may involve dozens of people and may not be completed for weeks, months, or even years depending on the scale of the project:

  • Enterprises that offer products or services across multiple geographic locations may require corporate approval for local campaigns.
  • Enterprises that have a business strategy with unique objectives across departments may encounter a struggle in maintaining brand standards and compliance without a centralized asset storage space.
  • Enterprises that share information and key performance indicators across departments may have difficulty accurately conveying reports across markets, which other markets could learn from and improve upon.
  • Enterprises that have corporate marketing supporting a diverse network of customer-facing teams may encounter obstacles in fulfilling the large number of localized, one-off requests for materials.

These are just a few marketing process roadblocks enterprises may encounter. With overwhelming objectives and no reliable MRM systems to organize assets and the approval process, marketing departments may spiral out of control. With multiple departments operating independently with their own sets of objectives and goals, corporate and local marketing teams may become unfocused, which increases the probability of errors, unnecessary reproduction, wasted time, and the need for extensive edits.

Procedures that benefit from marketing process management aided by marketing resource management software include:

  • Confirming compliance: Instead of bogging down an enterprise’s legal team with materials ranging from 15-word social media posts to 500-word blog posts to check for compliant language, storing brand guidelines in MRM systems allows content creators to learn, memorize, and use brand-compliant language and images in all marketing materials. Storing brand guidelines in cloud-based MRM software allows them to be updated in real time. MRM systems also make any legal reviews more expedient, as materials that must be approved by compliance are stored with anywhere-access, allowing the most immediately available team member who can take it on to get to work quickly, without the material getting lost in an email inbox and slowing down the process.
  • Accessing creative assets: For independent representatives or local businesses and vendors, having to wait for needed materials damages or eliminates immediate business opportunities. Dynamic templates stored in the cloud ignite the brainstorming process to better fit local needs. Rather than waiting in line for corporate to send what’s needed, representatives on local levels can access MRM systems to download, customize, and print corporate-approved materials instantly and make more money for the enterprise.
  • Tracking and reporting on inventory usage, orders, and billing: Using stodgy spreadsheets to manage marketing inventory increases possibilities for errors and unexpected depletion of items. MRM systems allow marketers to better manage vendors and fulfillment so they never run out of stock and better optimize marketing budgets, as waste is reduced.

For marketing process management solutions to operate optimally, they must be able to be accessed from anywhere – whether a user is inside or outside of a primary location or office building. A 2015 forecast by International Data Corporation reports the U.S. mobile worker population will increase to more than 105 million mobile workers by 2020, accounting for 72.3 percent of the American workforce. MRM software in the cloud enables authorized users, regardless of where they’re located, to have secure access to the materials they need to complete tasks that benefit the enterprise.

Efficient Marketing Process Management

Marketing process management powered by marketing resource management software immediately benefits enterprises by saving time on meetings, training, and approval. It helps improve accuracy in inventory tracking and billing, preventing unnecessary orders and eliminating waste. It reduces the pain of marketing process bureaucracy, allowing marketers and sales teams to be more agile and instantly create campaigns that best fit their audiences, all while upholding brand and legal standards.

Clear, streamlined processes improve sentiment and efficiency within an employee base, making team members feel more invested in the enterprise’s mission and empowered to better serve local customers.

Strata has the industry-leading marketing resource management software that has helped hundreds of marketers increase efficiency in MPM services and improve profits. Contact us to learn more about our cloud-based MRM software solution, MarCom On Demand.

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