Integrated marketing management (IMM) – also known as marketing automation or enterprise marketing management – is a class of software presenting a major opportunity for companies to create better customer experiences, and do so more cost effectively. According to Gartner, by 2014, companies that develop an integrated marketing management strategy will deliver a 50 percent higher return on marketing investment (ROMI) than those that don’t.
Many marketers dream about true IMM – where both sides of marketing, the operations and the campaign management functions, are aligned, synchronized, and efficiently adding value to each other. That 50 percent lift in return that Gartner found is also pretty dreamy. Imagine your world where workflow alerts go beyond approvals, and combine with automated predictive modeling to identify opportunities for cross channel synergy. For example, highlighting customers where an SMS or social follow up to an email campaign can improve results. Imagine if your spend management analysis tracks the success of campaign deployments back to budgets and allows decisions on re-allocation, or the occasional double down, for each initiative.
In practice, many marketers only invest in a point solution – email marketing or workflow or demand generation. This can be a great place to start, but it’s only that: a starting point. The real benefit and return comes from a truly integrated solution that includes both marketing operations – marketing resource management (MRM) – and multichannel campaign management (MCCM).
The benefits are the kind that marketers salivate over:
- Synergy with richer analytics (including big data projects like audience profiling and social sentiment analysis) enables marketers to execute customer-centric strategies and improve overall marketing performance, reaching the right targets, at the right times, in the right places, with the right messages.
- Tighter channel execution as well as integration cuts through the clutter of digital marketing and gives marketers a precise overall view of their customer. One of our customers in the hospitality business uses IMM technology to identify their highest value customers not just by pure dollar spend, but by frequency of visit and influence on other bookings (e.g., bringing along friends and relations). That intelligence powers customization of content, offer, and timing across multiple factors like customer habit and season.
- A better understanding of customers and greater channel visibility will lead to higher open rates and shorter response times for digital messaging like email, social, and SMS.
Be sure to give technology a fighting chance to assist you with the big problems, not just the day-to-day messaging challenges. To get you beyond the point solutions and into the big leagues, make the case that true IMM technology will accelerate your marketing ROI. Dare to dream big. Consider some of these use cases for your business. Are you able to show meaningful optimization results today? Technology could make the difference.
- Are you facing marketing pressure due to increased competition or feeling stretched too thin with the explosion of channels to interact with their customers/prospects?
- Is your marketing team under more pressure to do more with less and show accountability across the whole marketing organization?
- Can you tie results of marketing initiatives back to organizational goals and objectives?
- Are you able to link marketing expenditures to specific marketing programs to deliver an accurate return on marketing investment (ROMI)?
- Have you assigned a value to various forms of content, and link content development to campaign execution?
- How often are there costly agency reworks or delayed campaigns due to manual approval processes or out-of-compliance risks?
- Do you frequently find your marketing campaigns hindered by limited access to data across platforms or vendors?
Tell me how you are handling campaign management and operations challenges today. If it’s all on paper or managed in silos across a number of solutions, then you are leaving on the table a major opportunity to earn higher response, try cool new stuff, and have more fun.
(*Source: Gartner report entitled Focus on Integrated (Rather Than Enterprise) Marketing Management , Kimberly Collins, Publication Date: 6 October 2010.)