We all know Henry Ford's famous line, "half my advertising is a waste, I just don't know which half."
Although this has become a cliche, today the message still holds weight. Digital and social media campaigns have come to dominate the media landscape, but continue to be scrutinised for inflating budgets, crowding workloads, and inciting the confusion that comes with managing multiple campaigns at once.
The chaos that digital and social media create for marketers has been likened to a tidal wave. Executing a campaign and ‘always on’ content has become so complex with the diversity of channels and content mix, our clients are throwing their hands up in exasperation.
Spreadsheets are largely used to help try and bring order and sensibility to this chaos, where thousands of content versions, strategies, media placements and budgets are placed into complex tabled formats to deliver some kind of meaning.
However, these spreadsheets are becoming more and more ineffective and unmanageable tools to run a marketing program.
Innovative ways for marketers to better manage, oversee and monitor their marcomms are critical.
Marketing Resource Management (MRM) is a big part of the solution. MRM brings clarity to the purpose of a campaign and transparency to its effectiveness.
Through our acquisition of BrandSystems MRM, we now provide marketers with the tools to effectively plan, create and report on their marketing programs with an MRM platform offered as a part of the Knowledgewell solution.
Forrester recently reported that MRM is undergoing a renaissance. What was previously regarded as ‘administrative overkill’, is now seen as an essential part of a marketer’s toolkit.
MRM creates an interactive and collaborative online space to help marketers practise agile marketing. Campaigns and jobs don't follow a waterfall methodology. That linear workflow for marketers was redundant years ago. The dynamic nature of and targeted media placements require a more agile approach.
MRM is the missing link between planning, execution and ROI. Marketers gain greater control, clarity, and insight into their marcomms, providing them with streamlined project communications to improve speed to market and the data to make better strategic decisions.
With a smarter way to manage the plethora and complexity of modern marketing, MRM holds the key to understanding which 50% of your marketing budget actually works, and improving effectiveness into the future.
Perhaps, rather than quote Henry Ford, it would be better to quote Bill Bernbach (co-founder of DDB). "Nobody counts the number of ads you run; they just remember the impression you make." This is fitting; today we're caught in the maelstrom of complex content and channel dilution, but MRM will provide the window to see what content is a waste, so marketers can focus on the content that makes an impression.
Authored by Andrew Sidwell, CEO
BrandSystems MRM was recently acquired by Wellcom Worldwide and its product will now be part of the company’s proprietary software platform, Knowledgewell. Knowledgewell is an end-to-end marketing operations platform that includes Online Briefing, DAM, PIM, Online Approval, and Artwork Automation tools.
Want to learn more about MRM? Get in touch here.