Marketing resource management (MRM) refers to a system that assists organizations to manage and enhance marketing efficiencies. Marketing resource management (MRM) systems are delivered in the form of software that manages range of functions such as marketing budget, resources, IT assets and product offerings.
Marketing Resource Management (MRM) Vendors Focus on Developing Cloud-based Solutions with Emphasis on Big Data
Business organizations, in particular, small enterprises are actively adopting could-based solutions to capture rapid return on investment (ROI). In addition, the emergence of cloud-based solutions has significantly reduced the time required in managing marketing resources. While small-scale businesses are actively adopting cloud-based marketing resource management (MRM) solutions for less amount of investment involved, larger enterprises are utilizing cloud-based marketing resource management (MRM) solutions to achieve greater control over their digital marketing assets. To accommodate this increasing demand, prominent market vendors in the marketing resource management (MRM) market are focusing on offering cloud-based MRM solutions.
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- In 2017, Aprimo, a prominent leader in the marketing resource management (MRM) market launched a cloud-based, full SaaS (Software as a Service) version of digital asset management solution to provide marketers with faster implementation, scalability and lower cost of ownership
- SAP, another leader in the marketing resource management (MRM) market has acquired Callidus Software Inc., a leader in the cloud-based lead to money solutions. The acquisition will enable SAP to acquire leadership in sales performance management and configure-price-quote solutions
- In 2016, SAP acquired Abakus. The acquisition was aimed at enhancing its SAP Hybris Marketing solution portfolio by including customer profiling and responsive journey management in it
- In 2018, IBM has introduced marketing operations managed hosted solution that delivers marketing operations on private cloud deployment
Demand for Personalized Brand Image to Boost Marketing Resource Management (MRM) Software Adoption
Modern marketers are vying for a personalized brand image where marketing is focused on delivering customer-centric content. In delivering a customized branded experience, marketing resource management (MRM) solutions play an important role in enabling organizations to address customer preferences rapidly. Advanced marketing resource management (MRM) solutions with machine learning and AI enable brands to create a customer profile and optimize marketing strategy. Increasing demand for personalized content has led marketers to opt for marketing resource management (MRM) solutions with the aim to enhance their market presence.
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Increasing Inclination toward Data-Driven Marketing to Fuel Growth of Marketing Resource Management (MRM) Market
Delivery of a measurable ROI continues to challenge marketers owing to the complexity involved in the marketing process and the ambiguity of the outcome. The emergence of data analytics and advanced marketing resource management (MRM) solutions has enabled marketers to make informed and quick decisions. As data-driven marketing enhances the efficiency of managing marketing resource, reliance on data to improve market exposure is highly sought after among marketers. With the growing demand for market automation and customer-centricity, marketing resource management (MRM) solutions are likely to gain traction during the assessment period.