Any marketer worth their salt will tell you that marketing management is key to a company’s success, profitability, and overall growth. There’s no high-performing company without sound marketing management at its core. Yet, you hardly hear marketers talking about it.
But what’s the whole shebang about marketing management, and why does it need to be as effortless as possible?
Let’s take a step back and find out.
Marketing Management is Everything
It involves the end-to-end planning, implementation, and execution of your marketing efforts to grow and sustain your customer base and, in turn, your business.
As marketing guru Philip Kotler puts it, marketing management is “…the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.”
And it is essential to a company’s sales health and overall well-being because:
- Marketing management drives innovation in a company’s marketing efforts in a way that attracts new customers, retains returning customers, and improves overall profitability
- Without marketing management, you cannot cater to your customers’ ever-evolving needs and improve your product/offering
- You need to streamline your marketing efforts to stay relevant in a cutthroat and competitive economy
- Marketing data management gives your crucial insights to analyze your current spending, helping you make efficiency gains and make data-backed decisions with high ROI
- Strategic marketing management can help you identify loopholes in your current campaigns, allowing for course correction before it’s too late
In short, you need sound marketing management to ensure the optimal utilization of your budget and resources in driving tangible results for your business.
And as you’re most likely aware, it is an effort-intensive affair!
But despite its pivotal role in driving growth and profitability, most companies don’t have dedicated teams and the necessary resources to take care of their marketing management needs. Instead, marketing management takes place somewhere within the marketing team.
But, the lack of clarity and overreliance on silos makes it much less effective and efficient than it should be.
That’s a problem because:
Bad Marketing Management Affects Your Campaign Performance
Every marketing campaign needs to have a clearly defined goal to achieve your business’s needs. Unreliable data and lack of research courtesy of dated marketing management can derail your campaign.
You can allocate a massive budget for your campaigns and still not get the desired results because your marketing information management is poor!
In most cases, this happens because companies are overly reliant on age-old data silos. Siloed data is inaccessible and lacks transparency and accuracy. A Forrester survey reveals that 72% of companies find managing siloed data “moderately to extremely challenging.”
When you base your marketing campaigns on siloed data, you automatically restrict yourself from getting the big picture. Your campaign will be blindsided and not yield desired results. That, in turn, will reduce your ROI, affecting your business success.
And from here on, it’s a house of cards that can topple any time.
That’s why your marketing management should be par excellence.
Right-size Your Marketing Management Efforts for Better Results
Making a conscious effort and implementing organization-level changes to achieve the following.
Prioritize Marketing Data Management
Managing your data is a crucial marketing pain management practice that every company needs to adopt. Well-managed data is error-free, accessible, and reliable. On the contrary, data silos can be the death of your campaign.
You can leverage data to optimize your marketing campaigns by implementing robust data management practices. Targeted marketing campaigns are great for lead generation and help retain your customers’ interest in your brand.
That’s a win-win for your overall marketing management efforts!
Evaluate Your Marketing Performance Management
Your marketing efforts are only as good as the results they drive.
Tools and processes that let you analyze the performance of your marketing campaigns are non-negotiable in marketing management. However, getting lost in a sea of data is easy if you don’t have the correct analytical tools.
So you must evaluate your marketing performance management to understand if your spending is driving high ROI results.
Practice Strategic Marketing Management
Your marketing management efforts cannot consume all your time and budget. That would be counterproductive.
That’s why you need a marketing management strategy aligned with your short- and long-term goals. A well-rounded plan backed by foolproof research and analysis can set you up for success. Only then will you be able to implement marketing efforts that drive the results you want.
Strategic marketing management can be the difference between the success and failure of any business. Take a leaf out of Apple or Spotify’s digital marketing management strategy and get started on yours today.
To sum it up, do everything you need to simplify your marketing management to maximize your output and performance.
Mediatool: A Smart Solution to Your Marketing Management Woes
Revamping your marketing management processes can take time to happen. You need a comprehensive and cohesive marketing management platform that does the job for you better.
That’s Mediatool for you.
It is a SaaS-based cloud platform that provides end-to-end campaign management support for your business. You make optimal efficiency gains because it:
Simplifies Planning and Management
Mediatool offers a cloud-based centralized database for planning and collaborating on your marketing campaigns. Your team can access your marketing plans, strategies, and campaigns for seamless collaboration.
What’s best is that every time anyone makes changes to this database, it is automatically updated to reflect the latest version. That way, no one misses out on essential details.
It allows you to put all your chickens (read campaigns) in a row with the help of the following functionalities:
- Calendar View organizes data in an easy-to-read flow chart, complete with comments, activities, and links to digital assets
- Advanced Approval Flow that enables seamless collaboration between external and internal stakeholders during media planning for approvals
- Deliver and Plan designed for collaborating on creative assets, including images, videos, and documents, and to stay on top of your to-do list
- Conversations to keep track of all your interpersonal conversations sans the fuss of long email threads and multiple chat apps
- Strategic Planning to allocate budgets, segregate, and define the pipeline of your marketing campaigns according to a hierarchy of importance
Through its many capabilities, Mediatool gives you 360-degree planning and management support, saving you time and effort. So you get to optimize your campaign performance without burdening your marketing team with it.
Mediatool understands the importance of intelligent data management in maximizing your overall output and deploys state-of-the-art tech to aid you in the process.
You no longer have to worry about data silos because you have it all on one centralized dashboard. In addition, the Integrations feature of the dashboard lets you pull data from Google Campaign Manager and your social media profiles whenever you wish to.
So you’re always working with the latest data but under one roof—no need to wait around for permissions or follow time-consuming processes. Everything will be at your fingertips. Mediatool even generates automated marketing reports to save you time and effort.
Your data is also entirely secure and can only be accessed by external stakeholders if you share it. This means you get to work in a safe and secure database that continues streamlining your efforts to optimize productivity.
Two other nifty features that add to Mediatool’s impressive list of functionalities are
- ChangeLog, which keeps track of project stages in real-time
- Version History, which is a timeline of all changes that you’ve made to your content
You can plan multiple campaigns simultaneously on the dashboard and extract data from any of them whenever possible. Mediatool lets you restrict data with the help of tags, labels, media types, etc., for ease of use.
Overall, you make efficiency gains with its excellent data management capabilities. But that’s not all. You can create visually appealing reports that are easy to understand and allow insight into the real-time impact of your campaigns.
You also get complete control over your marketing spending because you can compare your actual spending in real-time to the yielding result.
And on the whole, the SaaS platform has a hassle-free user interface, is easy to use, and makes everything accessible. Along with a great tech support team, the SaaS solution demystifies marketing management, making it a breeze, even for companies with complex marketing needs.
The Mediatool Edge
Mediatool equips new-age marketers with a centralized, data-driven, and automated dashboard that saves you time, effort, and money. Because you save time on marketing management, you can utilize your resources for decision-making.
Whether you’re a brand looking to automate your marketing management or happen to be an agency dealing with multiple clients, Mediatool specializes in handling both.
Book a tour to understand how you can leverage Mediatool’s end-to-end campaign management capabilities for your business success today.