Tag Archives: Marketing Resource Management

How marketers profit from technology in a multi-channel world

Teradata Corporation (NYSE: TDC) has released the results of its pan-European marketing study, “The Data Driven Marketing Survey 2013, Europe”. The study reveals that a shift to digital channels and the increasing importance of data have led to a “class structure” in marketing technology investments among companies using these solutions. Telco and IT companies invest almost 20% of their marketing budget on improving their marketing infrastructure, whilst retail (17%) and finance (13%) are close followers. Overall, however, 50% of marketing departments across all industries surveyed spend less than 5% to improve their marketing with technology investments.

In creating the report, Teradata eCircle surveyed more than 1,100 marketing professionals ranging from CMOs and key decision makers to marketing managers and technology users, from 19 European countries and across nine major industries, to uncover the challenges and trends in data-driven marketing adoption by European businesses and how marketers use technology to master them.

The study shows that despite the current, uncertain economic climate, the shift to digital is significant. Marketers still plan to increase their spending in digital channels, especially in social media (79%), mobile marketing (79%) and online display advertising (70%) within the next 12 months. What’s more, the first seven channels marketers plan to invest in are digital, with call centers being the first non-digital investment priority in 8th place.

The research also highlighted marketers’ desire to embrace data, citing it as a key driver of marketing success, with data-driven marketers more than twice as satisfied with their marketing programs than their counterparts who are not basing their decisions on data.

With two-thirds of marketers claiming a lack of simple metrics and the short-term view of their marketing departments as their biggest obstacles to success, the findings provide an eye-opening insight into the struggles facing the modern multi-channel marketer. In fact, the single biggest challenge facing marketers in 2013 was revealed to be the pressure to increase revenue.

Out of the more than 50% of marketers utilizing seven or more channels, the research also found that only 33% currently have Campaign Management technology to monitor their activity, whilst a mere 17% use a Marketing Resource Management solution. Notably only 10% use both.

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Why MAM is a core piece of your EMM strategy

“Marketing Asset Management (MAM) should be at the foundation of an organization’s over arching Enterprise Marketing Management (EMM) strategy”, says John Thomson, president and CEO at Saepio Technologies, in  the whitepaper ‘MAM, Making Assets Actionable and Engaging’.

And why is that?

As a vital part of the advertising process, MAM combines digital asset management, collateral customization and marketing automation technologies into a single, seamless process that:

  • improves brand compliance;
  • advances measurable return on marketing investment (ROMI);
  • eliminates repetitive tasks;
  • enables speed-to-market; and
  • engages distributed marketers.

In the white paper Thomson first defines where MAM fits in the Enterprise Marketing Management strategy. “There are many models that depict the component of an EMM system”, according to Thompson.”But this document focuses on CRM, business intelligence/analytics, MRM, MAM and customer nurturing as key components.”

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Let’s all think about marketingcampaigns

What do you see when someone asks you how marketingcampaigns are created. Creative people doing all kinds of stuff to get inspiration. Locking themselves up in an office, taking a walk or just going to a bar for a drink and look around? That is a common image. An image that can change quickly in the near future. We all can think about campaigns, crowd-sourcing is the new game.

Unilever plans to expand its use of crowd-sourcing to create more relevant marketing campaigns for all its brands. A partnership with eYeka will see the co-creation platform based in France use its online community to develop new campaigns for the FMCG giant across Asia-Pacific and the Middle East, Russia and South Africa.

Rahul Welde, Unilever’s vice-president (media) for Asia, Africa, Middle East, Turkey and Russia told Campaign Asia-Pacific that the company intends to engage more fully with its most creative consumers. ”The objective is to build a great creative product working very closely with Unilever’s agencies, and create a stronger ecosystem and platform,” he said.  “Ultimately, this agreement will accelerate the development of a culture of co-creation and collaboration that drives innovation and creativity,” he added.
For eYeka, crowd-sourcing can give major brands a considerable competitive advantage by turning to consumers for ideas. Francois Petavy, CEO of eYeka, said: “Brands and their agencies are opening up to creative ideas from more diversified sources such as communities of consumers.” “We believe in a new open model where brands and their agencies collaborate with consumers and other non-traditional players on a sustainable basis,” he added.

Petavy argued in a recent blogpost that crowd-sourcing was an idea whose time had come and it was set to take off in 2013. He said it was capable of solving real business problems and that ROI could be demonstrated.

And the Innovation Excellence website listed six partnerships, including the Unilever-eYeka agreement, that it said proved that crowdsourcing was going mainstream.

The others included Deloitte and Kaggle, Sony CEA and Mofilm, Edelman and Poptent, Booz Allen Hamilton and Innocentive, ADK and eYeka.

How Digital Asset Management Helps Marketing, Creative and Sales Teams

Digital Asset Management (DAM) technologies have emerged as a strategic necessity for businesses and organizations of all types to operate more efficiently and effectively. Watch this video to learn more about how DAM solutions are used by marketing, creative and sales teams to (1) improve efficiency of marketing operations, (2) increase brand consistency, and (3) increase return on marketing investments.

This short video from Widen Enterprises tells the story on how DAM systems are used by marketing, creative and sales organizations. Learn more at www.Widen.com

The top 3 objectives of a CMO

Unlike many C-level executives, Chief Marketing Officers (CMOs) are without commonly accepted strategies and routine performance measures. This may be in part why CMO’s so often don’t get a seat at the executive table and incur such high churn. So what’s a CMO to do? In this http://www.crmsearch.com video blog post, Chuck Schaeffer shares three most important stakeholders and strategies for CMOs to deliver the greatest contribution to the company, and their own careers.

 

Data Chains Facilitate Marketing Performance Management

Recently one of our customers was completing their quarterly marketing report. She was frustrated because she was trying to complete nearly 500 input fields in her excel doc! Five hundred fields, yikes! Part of the reason she is collecting so many numbers is that the metrics for the marketing organization and the relationship between the various data elements are not clear. Selecting the right performance metrics and developing an actionable marketing dashboard is something many organizations are tackling. However, if the link between marketing activities and business results isn’t clear, you may find yourself wallowing in data.

For example, it’s important to be able to connect the dots between a marketing program and product trials with customer acquisition and market share. To do this will take three things: alignment, good data, and access to this data. As you grapple with measuring marketing, a key part of the work will be determining whether you have the data you need.

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One DAM Book Worth Reading

The implementation of a digital asset management system is a major undertaking for most organizations. At a minimum, implementing a new DAM system will require many people in your organization to learn to use new technology and probably make at least some changes in how they work. Those individuals who are responsible for leading the DAM initiative have the additional burden of planning and managing the project, selecting the DAM software, and winning the support of both senior executives and prospective users.

There are plenty of resources available to help managers navigate the DAM planning and implementation process, but most of those resources address specific aspects of a DAM project (software features, taxonomy, metadata, etc.). Most don’t provide a “big picture” view of what is needed to make a DAM project successful.

DAM Survival Guide (2012) fills this gap and provides an important and valuable resource for those who are responsible for planning and executing a DAM project. Early in the book, the critical point is made that successfully implementing a digital asset management system involves much more than buying and installing digital asset management software. Throughout the book, the author David Diamond emphasizes that people, processes, and policies are equally important to DAM success.

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We have come a long way…

Marketing has come a long way. People have been selling things and services since early man. But how we market these things has changed a lot through the years and ages.

Modern marketing hasn’t been around that long, it started  at the early 20th century, according to Marketo. As we entered the modern industrial age, the amount of goods became greater than the number of available customers, and so did the competition because suddenly had a choice. Modern marketing was born.

In time, with the emergence of new technology, marketing had to adapt. First, radio shook up how companies did their marketing. Then television made a huge impact. Then the Internet revolutionized not only how people did business but also how they live.

To illustrate technological advancements that have changed the course of marketing, Marketo put together an infographic based on its The Definitive Guide to Marketing Automation.

 

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Drowning in data

The modern technology, and especially digital technology like e-mail, websites, mobile and social media, are a blessing for marketers. Not ever before were they able to gather so much data on what they do. But, this also comes with a danger. The flood of data is large, marketers are awash in data. Marketing analytics is the way to take control over this flood. In the 2013 Marketing Analytics Benchmark Report by MarketingSherpa the importance of marketing analytics is addressed.

Over 1.100 marketers are surveyed for this research. It provides insight into analytics for all kinds of marketing channels.

According to Marketingssherpa the surveyed marketers provided some interesting insights, and also highlighted areas where marketers could improve in taking advantage of this valuable marketing asset.

The availability of marketing analytics data is promising with 79% reporting having average, significant and even vast amounts of client interaction data to analyze. Only 3% reported having no analytics data at all. An overwhelming majority — 97% — of marketers have some amount of marketing analytics data to work with.

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Leaner, faster and better marketing

Dr. Robert Shaw is a renowned businesswriter on marketing. He also is a consultant on the field of marketing, particularly Marketing performance measurement and management and Database marketing.

In his work two key elements come forward.

  1. Marketing automation: the idea that the marketing function should embrace IT to improve its efficiency and effectiveness. Shaw has tracked the uses and abuses of IT in marketing for over 20 years and defined best practice in this field.
  2. Marketing performance measurement and management. Shaw identified the need for marketing to become more measurable and accountable and his researches continue to define best practice in this field.

In this ten minute interview, conducted by Mayer Becker, Shaw sheds his light on ‘Leaner, faster and better marketing’.