It’s a tough time for CMOs. Expectations are high, but your marketing budget is tight – and it falls on your shoulders to deliver outstanding results for your brand campaigns.
In fact, senior marketers are now being asked to do more with less. A recent Gartner survey revealed that marketing budgets are in decline, now accounting for just 11.3% of company revenue.
So how can you continue delivering great campaign performances, even if your company purse strings are getting tighter? The answer lies in finding the right technology to turbocharge the distribution of your marketing content.
Cut back on expense without cutting back on results
One of the quickest ways to reduce your marketing budget is to run a leaner operation; employ less staff across international operations, and create one central campaign that can be executed in all regions, rather than allowing each local team to develop its own bespoke content strategy.
However, this approach can negatively impact results, which is why many CMOs choose to invest in marketing technology – such as a content adaptation platform – to keep campaigns on track.
The right technology has the power to improve marketing processes, making it cheaper and quicker for you to set campaigns live across multiple territories.
For example, a content adaptation platform enables the head office marketing team to devise a set of core collateral, which can be shared with regional marketers or agencies, for them to translate and publish.
This is a particularly efficient way of working if you’re looking to reduce costs by creating one central campaign concept, which is then localized in each market. By packaging up content for regional execution, you can afford to employ fewer people in each territory, without compromising the quality of your campaign results.
Not only that, but campaigns will run more efficiently in each region, as every member of the marketing team knows exactly where to go for briefing documents, brand guidelines, official fonts, imagery, and anything else they need to successfully localize and activate marketing collateral for regional customers.
“Consumers have a very real level of expectation that brands should make their products unique and exciting,”
Edith Hancock, Journalist at The Drinks Business.
Marketing tech doesn’t mean spending more – it means spending wisely
Although technology has the power to make marketing campaigns more cost-effective, some CMOs are reluctant to invest in new tech because they are concerned about a weighty up-front cost. According to Gartner, the total spend on marketing technology fell by 5% in 2017 – and now accounts for just 22% of most brands’ marketing budgets.
However, the right content adaptation platform can actually save your business money, by streamlining and automating many of the processes involved in running multinational, multichannel marketing campaigns. The key is to find a platform that can do everything your marketing team needs right now and can grow with your brand as it develops.
How to choose the right content adaptation platform
Whether you’re a CMO with no content management platform in place, or you have one or more pieces of software in use already, it is time to re-evaluate whether your current approach is delivering the best ROI – or if you need better technology.
If the answer is that it’s time to upgrade your marketing tech, there are a few things you need to consider.
First of all, you need to know who will be using the solution. A market-leading platform can be customized to give users different levels of access; this means that head office can control campaigns, and regional personnel will only have access to the information and assets that they need.
Secondly, you need to think about how easy the platform is to use. To make your investment work, all your staff members need to be fully trained – and you should make sure that there is comprehensive support available should they have any queries. Encourage your marketing team to provide feedback as well, so any teething problems can be ironed out quickly.
Finally, you need to understand how often new functions, features, and upgrades are released and keep abreast of those developments. According to Gartner’s study, companies with aggressive marketing budgets are 8% more likely to invest in innovative technology than CMOs with a lean marketing budget.
To keep pace with bigger budget brands, therefore, you should frequently analyze the ROI of your chosen platform to make sure it doesn’t stagnate. The last thing you want is to outgrow its capabilities.
Increase your on-trade coverage without draining your marketing budget: see how Brandgility works to find out how.