To get the go-ahead for a marketing asset management solution, you'll need to present your senior leaders a business case that demonstrates the value of the solution in clear and convincing terms.
A well-prepared business case for a marketing asset management solution will contain five components.
- A description of the problems, issues or challenges that create the need for an MAM solution
- A description of the proposed MAM solution
- The expected financial results of acquiring and implementing the proposed solution
- A discussion of the non-financial benefits the proposed solution will produce
- A discussion of the risks associated with the proposed solution and the risks of not acquiring the MAM solution
Like any business product or service, a marketing asset management solution creates value by enabling a company to reduce existing costs, avoid future costs, or increase revenues. To estimate the value of your proposed solution, you'll need to analyze the two major types of benefits that MAM solutions typically provide. One group of benefits includes those that improve the efficiency of the marketing materials supply chain. These benefits create value primarily by enabling you to reduce or avoid costs. The second group of benefits include those that improve the effectiveness of your marketing efforts. These benefits create value primarily by enabling you to increase revenues.
I've just released a new white paper that describes these benefits in greater detail and explains how to calculate their value when building business case for marketing asset management. If you'd like to review the new paper, send an e-mail to ddodd(at)pointbalance(dot)com.