What is Marketing Resource Management?
Also known as a Marketing ERP, Marketing Resource Management is a software that helps professionals organize, plan, and monitor the execution of productive tasks.
For agencies that manage multiple accounts, it is crucial to guarantee that deadlines are met, as well as the client’s needs and expectations.
To understand the current MRM’s model, we need a little context about its creation.
With digital transformation, the opportunities for marketing activation coming from different channels increased considerably. At the beginning of the century, Marketing Resource Management came to life as a response to that new demand.
Even then, with years passed and this role in marketing becoming more and more complex, the search for MRMs fell drastically. It simply wasn’t enough anymore.
The solution only became part of communications agencies’ routine again with a version known as 2.0 — which could approach planning and management with a collaborative focus, centralizing data in an easy-to-read dashboard.
Why Invest in MRM?
Your agency probably already has a well-developed strategic plan that is easy to apply, but Marketing Resource Management goes beyond a simple organization of the business’s routine.
Its main drive is in saving time and money with a more intelligent production line.
Imagine that each of your project managers attends to something between 5 and 20 accounts.
That means they will have to follow that quantity of strategies, particularities, and demands — resulting in a greater need for focus and increased pressure to show different results based on each goal.
MRM inserts itself in those dynamics providing leaders with some important benefits like:
Task and process management
Iit is possible to assign roles, set up teams, and define deadlines.
Analysis of big volumes of data
So you can follow processes even in bigger agencies with great precision.
Error, failure, and/or mistake identification
Even with many clients and demands, it is possible to observe atypical situations and react quickly, lowering the risks for negative results.
Easy monitoring
It optimizes the monitoring of relevant, accurate metrics to promote continuous improvement in your clients’ marketing campaigns.
Integration
The best MRMs today promote integration among all departments.
Pricing
You have precise knowledge about costs for each project (hours worked, for example) so you can price your service correctly.
Approval
MRM gives you better automation tools to ease the process of having clients to approve pieces that will go live.
What are the Main Issues you Can Solve with MRM?
Now we will show you some points that can be addressed and improved in a more practical way using Marketing Resources Management.
Team integration
Before the digital transformation, marketing data was available almost exclusively to higher ranks in the agency.
The campaigns were discussed and elaborated there, and only then passed on to be executed by the operational team.
MRM allowed those dynamics to change.
Now, the data needed to make decisions is shared and available to every member of the company with the hierarchy being on access credentials.
It gives more autonomy to departments and quick ways to make important decisions.
ROI optimization
The Return Over Investment, or marketing ROI, needs constant validation by trustworthy sources so you can really optimize costs and strategies.
With Marketing Resource Management, it is possible to quickly understand the performance of multiple campaigns and use the information to improve profitability at every step of a marketing agency’s routine.
Improvement of the relationship with branches
Often, physical distance can be a problem with demands like resource sharing, campaign approval, and reaction time for punctual decisions.
This can occur between agency and clients or agency and other branches, remote collaborators, etc.
MRM, by its integrating nature, can shorten distances and remove that gap from the routine entirely.
With remote, centralized access to data, it gives autonomy to every relevant part of marketing planning and execution.
Cost and cycles reduction
On one hand, strategic information is centralized; on the other, they are shared and the entire organization can understand their roles and the common goals.
Beyond that, MRM offers standardized processes, cutting costs and raising productivity by guiding teams towards the right order of actions.
Strategic data storage in the cloud
In the beginning, even Marketing Resource Management software had all the data stored within on-premise machines and servers.
Today, you can use cloud computing to give availability to information, with the kind of security you need for such an important part of your agency.
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