Tuesday, December 04, 2007

Marketing Asset Management Systems

More and more marketing companies are storing all their marketing communication assets (meaning all their consumer facing communication elements, including TV spots, Banners, Radio spots, Print ads, Outdoor prints) in an easy to access and distributable system, mainly with the focus to enable their worldwide marketing teams to access the marketing material in a convenient and cost efficient manner. While most of these initiatives start with the urge of saving costs, and ensuring brand compliance on a global scale, some of these marketing organizations are waking up to the potential of marrying these asset management systems with true data intelligence that would help the marketer to decide when to use a particular creative asset (e.g. TV spot, Web Banner, Radio spot) with a consumer at the right time and in the right channel.

I haven’t seen yet any truly successful marriage of these two very distinct capabilities and systems but I know of several Fortune 100 firms who have started projects to make it happen. It should be very interesting to see if they have any significant success in improving the effectiveness of their marketing efforts. Based on my experience with both systems I suggest that a few success factors will determine the true outcome of these initiatives:

  • Are the head of the marketing intelligence team and the owner for the creative work truly aligned in their goals of making this project a success? If not, the failure is more or less guaranteed.
  • Are the systems not just technology wise compatible but has the project team clearly defined the ultimate outcome of the initiative, including user profile, realistic effectiveness goals, and guidelines for internal decision process of how and when to use it?
  • Are the regional marketing teams truly involved in this initiative, so that the system allows for regional particularities without diluting the effectiveness of such a global system?
  • Are the expectations towards the C-level executive team clearly set up-front, so that everyone understands that this is not a silver bullet but a critical milestone of becoming a truly smart marketing organization of the 21st century?

It seems to me that three different types of organizations will be on the cutting edge of combing the marketing asset systems with data intelligence: Highly innovative marketing agencies, marketing pioneers within Fortune 2000 companies, and software companies who are incorporating marketing agency functionalities (e.g. Google, Microsoft). I will keep you posted about any observed progress of teams across this wide spectrum of organizational candidates.


Blogger Sandeep Giri said...

Michael -- glad to see that even if you are literally surrounded by a wealth of marketing assets, your thoughts haven't veered too far away from optimization of those assets :-)

On surface, this may seem like a combination of MRM (marketing resource management) systems and marketing analytics systems, but a hidden yet crucial system to implement this concept is the one that does the marketing program execution. This is the system that uses different subset of marketing assets for each program and its various campaigns, and hopefully tracks the effectiveness in a full cycle, i.e. all the way to conversion (or non-conversion).

Now, if you have a marketing program execution platform that is (a) in tune with all your assets in all different channels, and (b) tracks asset usage and effectiveness in different programs, and also publishes it to an analytics platform -- you are close to having what you describe.

Is there a platform out there that does all this? Stay tuned :-) And I'll be also curious to see your reports on what you find.

5:06 PM  
Anonymous Swamicrm said...


nice to see a post on this topic. Frankly, this area - Analtyics, marketing automation, MRM have been siloed a lot due to historic reasons I guess. Marketing has never been tech friendly. Also, marketing is averse to processes as it is seen as either creative or need for 'seat-of-the-pants'approach as market needs are dynamic.

At the other end, analytics folks have focussed on best-in-class processes and algorithms. Their business understanding of multiple domains is sometimes limited. Hence, the ability link them to marketing automation has been tough. For example, analyts like to work on SAS but if they are given easy to use tools like KXEN, they don't see it as robust tools.

Hence, surely there is a need for "connecters" for these areas if one were to look at this problem like software connectors!! This is imperative if one wants to get the best out of multi-channel marketing that is gaining importance today.

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