Now, more than ever, global marketing needs real-time visibility into marketing performance. It’s essential that marketing be able to allocate budgets and resources for the greatest effectiveness in a world where conditions are unpredictable. This agility constitutes a clear competitive advantage.
Marketing must also be able to demonstrate these capabilities, and the results, to highest management.
Many companies typically allocate their marketing budgets based on historical allocation levels and product-level priorities, rather than campaign effectiveness….
Measuring Marketing: McKinsey Global Survey Results
However, many global marketing departments simply don’t have the right tools, as illuminated by the 2020 CMA Survey from Deloitte:
Efficiency to Effectiveness
To get a true picture of performance, marketing must measure both:
- The efficiency of the global marketing organization, and how that contributes to
- The effectiveness of the campaigns and activities.
Each is a critical success factor and together, the road to continuous improvement.
CMOs need real-time visibility into marketing performance to respond to what is working and what is not globally, regionally, and locally.
A Single Source of the Truth
It no longer makes sense to have manual processes. A MRM, or marketing resource management solution, brings all activity, resources, and data to one centralized platform. The reporting and analytic capabilities are robust as the MRM is able to consolidate often disparate data from all elements of the marketing stack, providing marketing a single source of marketing truth and a solid basis for decision making.
A survey conducted by Forbes and Neustart clearly shows the benefit:
High performing marketers are deploying data-driven marketing performance systems to make better decisions about marketing resource allocation, generate better returns on marketing investments, and exceed their growth plans
- Marketers who invest more than 10% of their working media budgets in marketing performance measurement and analytics are 3X as likely to exceed their growth plan by over 25%.
The bottom line is real-time control of the campaign and the investment, based on performance.
BrandMaker’s MRM solution has over 1000 connectors that integrate marketing budget and performance on one platform.
Increasing Performance in Real-Time
Optimization cannot be achieved without objective measurement. The MRM platform provides uniform metrics, at all levels, as the basis of meaningful reporting and analysis.
Team productivity, marketing results, and use of content are in a performance continuum – one influences the next. A modern MRM system enables the elimination of redundancies while streamlining workflows, and global collaboration.
Worldwide marketing organizations who have used BrandMaker’s reporting capabilities have seen a double-digit increase in productivity.
Campaign Performance in Real-Time
The basics of marketing performance are being able to measure results against a reliable baseline, thus identifying trends and refining the implementation.
This essential measurement capability is baked into a MRM (if it were spreadsheets, think how long it would take, and the likelihood of error). The visibility is complete, beginning to end, 360 degrees, so every lever can be turned to maximize results.
The same survey from Forbes and Neustart adds:
The resources high performance marketers rely on to support marketing measurement:
- 55% campaign attribution and performance
- 41% dashboards and data visualization tools
54% are making it a top priority to unify data from many touch points, channels and media interactions for a single view of the customer.
Prepare Today for Tomorrow
In these confusing times, one thing appears clear. Prepare for the future. A MRM platform expands what is possible for the future of marketing process optimization.
BrandMaker is our go-to tool for the future of our global marketing infrastructure.
Global Marketing Operations Manager
$6B Worldwide Manufacturer and Distributor of Life Sciences Materials