Marketing Resource Management (MRM): An Expert’s Tutorial
In our current study, Condition of Content 2022 , we found that 23% of marketers surveyed intend to spend between $100K plus $500K on content within the coming year — with 16% planning to spend up to $5M.
We also found that 43% associated with organizations have more than 20 people involved in content operations, and 76% plan to employ even more staff to get the job done within 2022.
But it also presents a unique challenge when it comes to managing the mountain associated with digital assets being developed every day. If this is a head ache you’re all too familiar with, you are not alone.
In fact , there’s a whole industry dedicated to it, known as Marketing Source Management (MRM). In this guideline, we’re going to walk a person through everything you need to know about MRM, including the most important features to look for when choosing a solution.
Here’s a sneak peek of the top three MRM features:
- Centralized digital asset management
- A marketing-first approach
- Capacity to support deep integrations
First, though, let’s answer some simple questions about MRM.
What is marketing useful resource management (MRM)?
Marketing resource management is the process of allocating marketing sources like digital assets, budgets, planning capabilities, editorial calendars, content production, creative briefs, and metrics at each stage of the marketing lifecycle through campaign planning to execution.
MRM is conceptually similar to enterprise resource planning (ERP) in that it takes a centralized approach to resources, collecting them in a single ecosystem that is accessible to everyone. The concept is that productivity will increase men and women aren’t constantly starting from scrape.
As marketing and advertising departments become more and more complex, MRM software is becoming a must-have tool for many companies. Which begs another question…
What’s MRM software program?
MRM software is a solution that stores all your marketing resources in one place, often serving as the main hub or backbone of a marketing technology (MarTech) stack.
Welcome’s MRM software , for instance , allows you to centralize all your digital assets for easy discovery and reuse them across all teams and stakeholders, making it easy to create plus repurpose content at level.
Plus, central requests provide a single source of truth, making management easier throughout the process and making sure proper resource allocation with regard to future marketing activities.
Key features an MRM system should have
In this section, we are going to cover three key features to look for when evaluating an MRM solution for your company.
one Integrated digital asset administration
Digital assets are pieces of marketing collateral that provide value to your organization. Like a content marketer, these are usually individual pieces of content, from blog articles to graphics to podcast episodes. Additional relevant marketing assets consist of logos, approved images, along with other brand-specific visuals.
With that in mind, electronic asset management (DAM) is the practice of organizing and tagging assets in a centralized library therefore everyone who needs them can easily access them. It is one of the key features you should look for when evaluating MRM techniques.
Theresa Regli, a strategic consultant focused on electronic asset management, explains it this way : “DAM is concerned with delivering the right content to the right individuals, on all devices, mostly in real time, with the ability to track and measure digital asset wedding across an enterprise as well as its potential global reach. ”
2 . The marketing-first approach
As we mentioned earlier, the idea of centrally organizing resources is not a new one. What is brand new, however , is the sheer number associated with resources that need to be maintained within marketing departments.
In fact , in that State of Content survey we mentioned earlier, we found that figuring out how to shop, manage, and reuse property is the third hardest challenge marketers face right now.
For this reason, it’s necessary to choose a solution that’s designed specifically for marketing as opposed to one which has a broader audience. Marketing-specific tools are going to include functions that tie everything collectively and make life easier for your team.
Here are some specific features to look for:
- Content and content calendars
- Campaign planning plus execution tools
- Customizable tasks and workflows
- Automated work request routing
- Content production and submission tools
- Resource management
- Content material editing tools
- Performance analytics
3. Capability to assistance deep integrations
Try as they might, even the the majority of comprehensive all-in-one tools will not eliminate the need for specific stage solutions. So , it’s important to find a tool that’s designed to allow deep integrations instead of just surface-level add-ons.
This approach is in series with what Scott Brinker, inventor of the MarTech 5000, calls the “ second golden age of MarTech ”. He posits that the new dynamic is emerging in the industry and that the old fight between all-in-one versus stage solutions is being replaced with something more akin to a good ecosystem.
On this new ecosystem, major systems will serve as the backbone of marketing stacks, designed to be augmented with specific apps that can plug significantly into their systems — just like Welcome. Here’s how it works:
- Capabilities – Welcome integrations chart directly to the way your group works across the full advertising campaign and content lifecycle, assisting you at every stage of the process.
- Connectors – Welcome’s Codeless Connectors are purpose-built solutions, designed to map to common use cases and give you the freedom of preference to integrate with the equipment your team uses daily.
- Public API – Welcome’ s open API extends the functionality of our own Connectors, helping you push (and pull) content and data between systems — also your unique, homegrown tools.
How to get started along with marketing resource management
Now that you know a little more about what features MRM options should have, we’re going to include a few tips on getting started.
1 . Consider your requirements
Before diving into marketing resource administration, it’s important to take a step back and evaluate your needs. Here are some questions to ask your team:
- How many marketing resources perform we need to manage?
- What type of digital assets do we need to organize?
- How are we storing and managing our property?
- What does our own content development process seem like?
- How do all of us collaborate with each other and with outdoors stakeholders when developing articles? Do we like this system?
- What workflows do we have in place? Exactly how well are they working?
- What kind of metrics or KPIs do we make use of? How effective are all of us at measuring them?
2 . Evaluate your options
The next phase is to see what’s out there plus compare your options. Obviously, we are a bit biased towards our personal software (wink, wink) so we’ll start with that. But then we’ll take a look at some other choices in the MRM space.
Welcome is a marketing-specific remedy that offers everything you’ll need in the way of marketing resource management. Some of the benefits of our system include the following:
Welcome’s capabilities cover you across the entire advertising lifecycle. Our software supports tactical planning, content development, and performance analytics.
Welcome has been built specifically for marketing reasons whereas other tools had been built for more general project management.
From managing person assets to planning long lasting campaigns, Welcome gives you advertising automation and real-time cooperation capabilities for any scenario.
Monday is really a broad project management device that offers a wide variety of features as well as a flexible user interface. However , the versatility is actually its main downside because it lacks important MRM features as a result.
For example , Monday does not offer an in-platform record library. You can integrate having an external tool that serves your documents, but you can not do it natively.
Wrike is another project management tool with broad capabilities. As opposed to Monday, though, you can customize Wrike for marketing teams. They also have a solid number of features that support marketing duties.
The problem is it takes quite a bit of legwork to get up and running. And since it’s not specifically designed for MRM, it’s not very intuitive to use from a marketing resource management standpoint.
Asana is another great project management tool, yet it’s geared more toward tracking assignments. While you may technically use Asana to store files, its abilities are limited when it comes to conntacting your team and effectively managing resources.
Trello is a good organizational tool with regard to smaller marketing campaigns. Its easy-to-use interface takes the shape of a simple Kanban board , which is useful for tracking deadlines plus individual responsibilities. However , Trello’s simplicity makes it inadequate intended for teams with large amounts of resources to manage or anyone looking for a more analytical device.
3. Generally start with a free trial or even demo
Even when you’ve done all of your study and talked to all the appropriate people, you really can’t inform if you’ve picked the right device until you’ve tried it for yourself. Every marketing division is different, and a tool that works for one team may not be a perfect fit for another.
That’s why it’s always best to start with a free trial so that your team can get a few firsthand experience with the MRM solution. Once everyone has used it for a bit, here are some questions to ask them:
- Is the tool making their job easier?
- How steep is the understanding curve?
- Are they still able to use their favorite point solutions as efficiently as they were before? Or is it creating more hoops to jump through?
- If they ran straight into problems, how easy has been it to get in touch with customer care?
Marketing and advertising resource management FAQs
What’ s the difference between CRM and MRM?
In short, 1 manages customers and the other manages resources. CRM represents Customer Relationship Management while MRM stands for Marketing Reference Management. Many companies make use of CRM software to streamline customer communication and deal with leads.
What departments are involved in MRM?
While MRM pertains specifically to marketing assets, it can be helpful to many other departments in your company who need entry to things like brand assets, calendars, and budgets. Such sections include finance or education, product development, sales, human resources, and much more.
What are advertising resources examples?
Examples of marketing resources consist of digital assets like brand logos, images, graphics, weblog articles, podcast episodes, clients success stories, and more. They also include editorial calendars, publishing schedules, budgets, and timelines.
Hopefully, this guide cleared up some of the mystery surrounding marketing source management tools. And if we have convinced you to give Desired a try, you can reach out for any free demo any time.
Best of luck out there!