Reduce time budgeting & planning
*Creating marketing spend reports
Marketing Performance Management (MPM) is the Business Process of Run Marketing – How Marketers Run Their Teams
Allison Smith-Terrey VP Marketing Technology & Operations, Pitney Bowes
Ultimately, it is the pains that are solved for actual people and the value they receive that defines category.
Working with hundreds of customers, we have a clear view into what MPM is and the value it brings to marketers. Ultimately, MPM is the technology solution that supports the business process of Run Marketing.
Technologies that support the Run Marketing business process include: Marketing Performance Management (MPM), Content Management Platforms (CMP), and Enterprise Work Management.
Allison Snow, Senior Research Analyst
Forrester’s definition of MPM
MRM has been around for 20+ years and is dominated by old school on-premise software vendors. The idea of “MRM 2.0” has begun surfacing. Gartner categorizes this as: Work Management, Asset Management, and Performance Management (which includes financial management).
The reality of MRM is it is too much for one vendor to successfully support customers across all areas. The approach that serves marketers the best, are vendors who go deep in key areas, like MPM, and then connect data and workflows between other marketing technologies.
CMPs are focused on the workflow, creation, and management of content. They are an adjacent technology to MPM and the work done in these systems follows the plans, budgets and strategy work that is kicked off in MPM platforms.
What is missing in CMPs is the closed loop ROI ability and the ability to tie work to the strategy. These two missing items are why the connection to MPM systems is imperative.
Also called Collaborative Work Management, this is where projects and work is managed across the entire organization. Many marketing organizations leverage these technologies and connect them with plans, budgets, and strategy within MPM; integrations here are key. Like with CMP’s the Work Management technologies often follow the strategy done in MPM systems.
How marketers make decisions and take on their work is the future of Marketing Performance Management, that is why MPM and Work Management are a winning combination.
BI systems are widely adopted by most enterprise organizations. MPM is incredibly powerful in these situations as it provides a new data source that can be added into BI and analytics systems.
Allocadia owns the “I” in ROI and many other systems (like CRM) own the R. Once this new data source is available via MPM systems, it can be used like any other and be exposed and leveraged with in BI systems. This provides global insights in financial spend and the ability to connect to other data sources to measure ROI and beyond.
CFP&A systems are used by the CFO and can be confused as a solution for the marketing financial management aspects of MPM. While there are some very specific financial or planning use cases that can be leveraged in CFP&A systems, the reality is they do not have the depth, breadth or focus on financial management for marketing, connect into the martech ecosystem or provide ROI insights for marketers.
In fact, almost all Allocadia customers have a finance specific software that is complementary, so MPM and CFP&A systems work best together, not separately or alone.
The best marketers in the world use “I” data from MPM and connect it to “R” data (often CRM) and use those as foundational elements. Then layer on attribution models for advanced views of ROI.
Attribution is valuable for specific measurements around channel and activity impact for demand generation marketers. The challenge is it often serves as a mechanism to “prove” marketing’s worth, when really marketers need to determine their return on intent and whether they are meeting their business objectives.
Customers adopt products that solve their pains, and equally they look for business partners that have shared values and have a shared passion for the same mission.
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