Marketing Resource Management Benchmark Report 2012

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Transcript of Marketing Resource Management Benchmark Report 2012

  • 1. Content Part 1: Topic Overview Part 2: Reasons to Implement Part 3: Value Drivers Part 4: Challenges Part 5: Performance Metrics Part 6: Success Story Part 7: Vendor Landscape Sidebars Survey Stats Benchmark KPIs Core Technologies Gleanster Numbers Vendor Quick Reference Guide Entire content 2013 Gleanster, LLC. All rights reserved. Unauthorized use or reproduction is prohibited. Note: This document is intended for individual use. Electronic distribution via email or by post- ing on a personal website is in violation of the terms of use. Q2 2013 Gleansight Marketing Resource Management (MRM) provides the administrative backbone of day-to-day marketing operations. These systems were originally deployed at very large enterprises, which needed to coordinate the activities of hundreds of marketers in offices around the globe. More recently, they have been adopted by smaller organizations to manage projects across channels, to track expenses more precisely, and to take greater control of marketing planning. The development of vendor-hosted Software as a Service (SaaS) systems let marketers get the benefits of MRM without running the systems on their own company servers. SaaS systems are also easily shared with suppliers and channel partners. Like any software, MRM is only successful when deployed properly. As a system designed to help manage operations, MRM is especially dependent on its users having well-defined processes, well-maintained data, and disciplined execution. Companies that meet these conditions can expect to reap substantial improvements in costs, speed, and accuracy. Beyond the immediate benefits of greater efficiency, these organizations position themselves to run more effective marketing programs because they can measure results more accurately and take advantage of new business opportunities more quickly. With this Gleansight benchmark report, marketers at all levels will learn how to best take advantage of MRMs potential. It reveals how successful marketers are using MRM systems, what challenges they faced, and and how theyre maximizing the value of their investment. Marketers who are just considering their first MRM system will find guidance into setting realistic goals, anticipating roadblocks, and measuring success. Marketers already using MRM will be able to compare their own results with their peers while identifying areas of excellence and opportunities for improvement. All marketers will gain a richer understanding of how MRM can support their entire marketing operation, providing a foundation for future success. Marketing Resource Management

2. Gleansight: Marketing Resource Management Note: This document is intended for individual use. Electronic distribution via email or by post- ing on a personal website is in violation of the terms of use. Entire content 2013 Gleanster, LLC. All rights reserved. Unauthorized use or reproduction is prohibited. 2 Companies purchase MRM systems to improve the efficiency of their marketing operations. Without MRM, marketing departments use disconnected systems and spreadsheets to build plans, set budgets, track projects, manage approvals, record costs, and store content. This fragmentation has always made it difficult for marketers to share updated data and current marketing materials, to track and coordinate activities, and to standardize processes. The problems are magnified as companies market through more channels, create more content for different segments, react more quickly to market changes, work with staff and vendors in more locations, and face tighter regulatory requirements. Faced with these new burdens, marketing operations risk catastrophic collapse or, almost as bad, a slow drowning in a rising tide of errors and inefficiencies. A centralized MRM system reduces the marketing operations workload by eliminating duplicate data entry, enabling collaboration within the marketing department and with outside resources, providing superior tools for project and content management, maintaining an integrated framework that relates high-level marketing plans to specific campaigns and projects, producing a marketing calendar, reconciling budgets with actual expenses, and making data accessible for more sophisticated analysis. These features allow a company to define standardized processes for regular marketing tasks, to track compliance with those processes, and ultimately to identify and implement improvements. The increasing popularity of MRM reflects both the greater need for the operating efficiency and the wider availability of solutions. It is also part of a broader wave of technology adoption among marketers, who are upgrading their systems for media buying, email campaigns, social media, website management, customer data, and analytics. Today nearly every marketing department can benefit from some version of MRM functionality. Survey Stats The research findings featured in this Gleansight benchmark report are derived from the Q2 2011 Gleanster survey Agile Business Intelligence. Total survey responses: 246 Qualified survey responses: 213 Company size: $1B (6%) Geography: North America (83%); Europe (12%); Other (5%) Industries: Consumer Goods (12%); Retail (8%); Software (10%); Entertainment (6%); Manufacturing (6%); Financial Services (5%); Non-Profit (4%) Job levels: C-level (7%); SVP/ VP (23%); Director (32%); Manager & Staff (38%) Sample survey respondents: Director, Liberty Mutual Insurance Vice President, Four Seasons Resort Director, Macys Manager, Bank of America Director, BP Manager, Hain Celestial Group Manager, Bayer AG Director, Limited Brands Vice President, Ford Part 1: Topic Overview Marketing Resource Management software supports the marketing operations of an organization. Primary functions include marketing planning and budgeting, marketing project management, and marketing content management, including approval workflows. Systems may also manage some procurement, such as purchase of printed materials and of marketing services, but media buying is generally done separately. Other components of marketing execution are also excluded, including customer and prospect databases, mailing list segmentation and campaigns, content creation, and website management. Reporting and analysis are largely limited to supporting the systems main functions, including production reporting, predictive modeling, and return on investment calculations might draw on some MRM data but would be performed outside of the system. Companies purchase MRM systems to improve the efficiency of their marketing operations. 3. Gleansight: Marketing Resource Management Note: This document is intended for individual use. Electronic distribution via email or by post- ing on a personal website is in violation of the terms of use. Entire content 2013 Gleanster, LLC. All rights reserved. Unauthorized use or reproduction is prohibited. 3 * According to Top Performers, based on 213 Qualified Survey Responses to the Q1 2013 Gleanster survey on MRM 89%87%77% Most Compelling Reasons to Implement* Improve compliance Manage brand consistency Standardize marketing processes ** According to Everyone Else, shown only when a notable disparity occurs relative to Top Performers 72%** * According to Top Performers, based on 213 Qualified Survey Responses to the Q1 2013 Gleanster survey on MRM ** According to Everyone Else, shown only when a notable disparity occurs relative to Top Performers Standardize repetitive marketing processes. MRM systems provide a structure for the processes they manage, including planning, budgeting, project management, and approval workflows. This structure makes it easy to track compliance with standard procedures. Many MRM products go further to include detailed task lists for each project, which lay out the specific process steps for users to follow. Users can generally create templates that contain standard lists for different types of projects. These are extended with specific details, such as dates and staff members, when the project is created. Manage brand consistency. The MRM content repository makes it easier for dispersed marketers to share the same marketing materials. Most systems give administrators extensive control over which materials and which functions are available to individual users. This allows wide distribution of materials without risking unauthorized changes. Some MRM systems also have sophisticated distributed marketing functions that let channel partners, such as sales agents and dealers, download selected materials and make tightly controlled modifications. These features may automatically customize the materials with the information such as the channel partners address and product lines handled. Part 2: Reasons to Implement The overarching reason to implement marketing resource management is to improve the efficiency of marketing operations. But this general goal encompasses many specific improvements, which different companies will assign different weights. One common objective is cost reduction, achieved by reducing the staff time required for specific tasks, by reductions in errors and rework, and by better managed procurement spending. Another key objective is standardization of marketing processes, which ensures more reliable execution, less reliance on individual workarounds, and compliance with regulatory requirements. A third set of goals relates to the need for greater visibility into marketing operations, gained by replacing stand-alone systems and private spreadsheets with a shared central system. This provides marketing management with greater control over operations and a clearer picture of results, helping them allocate resources to the most effective programs and channels. Benchmark KPIs Gleanster uses 2-3 key performance indicators (KPIs) to distinguish Top Performers from all other companies (Everyone Else) within a given data set, thereby establishing a basis for