As CEO’s, investor’s, and boardroom’s put more pressure on marketing to deliver results
It’s next to impossible to manage internal and external marketing projects without a marketing project management software.
Marketing project management software is essential for any marketing department or freelancer for the matter.
Customer is the king of the market who makes the rules. This essentially means that customers need to be treated well and their needs are met by providing quality services.
Every marketer, who intends to reach out and satisfy the customer needs to be backed by a well-defined strategy.
Right from reading the industry environment and needs of the market. From chatting with customers seeking their opinions on the product, the marketing function involves a number of activities, which need to be managed efficiently.
This entails the need for having commensurate market knowledge and skill set.
Tending with equal care to each activity in the chain mandates employment of specific PM tools for management and control.
PM tools for marketing have evolved over time. They tend to cater to the needs of managers to effectively communicate and coordinate with the marketing team.
Managing Intense Competition
The world always roots for competition. It is the lifeblood of the industry and innovation. Imagine a world without competition; a monopoly market for every product/utility you need. It would all look dull and empty as if they were made somewhere in Uzbekistan.
There won’t be any motive to improve product design. Behind every great product and every great brand, there lies a story of successful marketing. There is a vision and there are strategies to achieve them.
Here is an interesting story to remember when you are perfecting a competitive marketing strategy. Two executives were trapped in a jungle and a tiger approached them. One starts tying his shoelace. The other person asks him. Do you think you can outrun the tiger? He replies I don’t have to. I just have to run faster than you!
Yes, this is where you are headed. You cannot go in there barehanded. You will need to get equipped to face intensely competitive forces. The markets are always volatile; you can be dominant today and be thrown out of the competition by tomorrow.
Nevertheless, the overall game plan should not be on never falling behind. It should be about leapfrogging ahead when you see yourself lagging behind. There is and always will be competition and the marketer should work on turning the tides to his advantage.
The Four Ps of Marketing
All organizations need to focus on the four pillars of marketing:
Every marketing plan/strategy needs to be wired around these four factors. While the evaluation of each can only be made in coordination with the other three, a thorough grip on each of the individual factors is necessary.
Marketing in the digital era means you can and you have to reach out and coordinate globally. Products and services are becoming less local. The growth of ecommerce and digital platforms has transformed how customers make their preferences and decide their choices.
Risks can arise in a number of ways for an organization, so managing and mitigating their effects requires tremendous effort from the management.
Engaging digital tools in marketing management can help marketers effectively reduce the risk factor.
Enabling effective cross-functional and interdepartmental communication, market data analysis, generating KPIs, increasing web traffic, planning and execution of strategies, and follow-up are facilitated by project management software tools. These run the business of helping your business grow.
Uncovering How Marketing Project Management Software Reduce Risks
There are a number of advantages offered by PM tools:
1. Highly Focused and Systematic Approach
Managing resources using digital tools, such as marketing project management software, essentially gives you the advantage of efficient data management. Employing electronic media and data collection and assessment tools in conducting a market study and analysis can prove to be highly productive.
For example, let’s say you have issues accessing project files instantly as you don’t have a platform to store them. A marketing project management software can work wonders in this case. Not only can you store files in one place but also access and share them with teams or clients easily.
2. Lead Generation and Conversion
One of the most primary tasks in marketing is driving customers to explore the products offered by the organization and creating brand awareness.
Exploiting social media platforms like Facebook or Twitter for obtaining customer data and defining a focus group for the specific products are highly effective methods. Further, for maintaining customer loyalty, providing quality after-sale services are also necessary.
But, how would a marketing project management software help you achieve this? Creating the perfect marketing strategy and getting the end result is crucial, the most important part of the entire process is the execution!
A robust PM software such as ProProfs Project can help in tracking all marketing strategy executions. It helps ensure nothing is left out and all strategies are implemented perfectly to completion.
3. Financial Planning
Budgets, projections, and cash flow statements are all quantitative measures for analysis. Reading such statements in the context of customer needs, preferences, tastes, etc., requires standard, meaningful reports.
Now, wouldn’t it be so easy to just have a software tool to take care of all financial documents? A marketing project management software surely helps you achieve this as well!
You can create accurate invoices and easily bill your clients and store all invoices on a single platform for future reference. It’s that simple!
4. Integrating Departmental Goals
As organizations grow in size, the massive scale of operations accentuates the need for divisions and departments. it is important for the specific divisions to achieve individual goals, it is highly necessary that they are aligned with the overall vision of the organizations.
The best example is the event of Apple Computers becoming Apple. The company was no longer just a computer company. It launched the digital music industry.
Although Sony was a better player in the market with much more divisions and resources, it could not coordinate between the different divisions efficiently.
This led the company to lose out to iPod and iTunes, which provided customers a highly integrated experience. For this, the managers need to heavily rely on PM tools for effective coordination.
Adopt a Marketing Project Management Software to Minimize Project Risks
So, it is essential to adopt a PM tool that has all the features needed to manage marketing projects, strategies, teams, and clients easily.
Do your research and choose a PM tool that offers all the needed features you need. When choosing the right marketing project management software for your organization.
Examples of Marketing Project Management Software
We examined these marketing project management software platforms:
Hive is a project management and collaboration software used by small teams of 10 up to Fortune 500s. Hive is a project management and collaboration platform that powers companies like Starbucks, Uber, WeWork, and IBM.
With AI-based analytics, thousands of integrations, flexible project views, and more, Hive streamlines your work in one centralized platform. Used by teams of varying sizes, from 10 to 1,000 people, Hive is an excellent choice for a range of companies.
Teamwork Projects takes care of the details so you and your team can focus on the big picture.
Watch this video to see what Teamwork has to offer.
monday.com is a marketing project management software. The folks at monday.com have done away with a lot of the noise and unnecessary bells and whistles. They focused on simple, visually intuitive layouts that help clarify the task and sequence of work.
Hive is a project management and collaboration software used by small teams of 10 up to Fortune 500s.
Hive is a project management and collaboration platform that powers companies like Starbucks, Uber, WeWork, and IBM. With AI-based analytics, thousands of integrations, flexible project views, and more.
Hive streamlines your work in one centralized platform. Used by teams of varying sizes, from 10 to 1,000 people, Hive is an excellent choice for a range of companies.
Wrap up about Marketing Project Management Software
Your task management platforms have the ability to manage a project and time tracking within the marketing department becomes much easier with a project management solution.
The marketing project management system can provide Gantt charts, the big picture, Track projects, and make your project planning smoother.
Marketing project management tools can help team members work on multiple projects, develop custom workflows, and save time while delivering results.
David is a technical writer, his works are regularly published in various papers and top-notch portals. His rich experience in project management software helps him offer the latest and fresh perspective on improved efficiency in workflows across organizations. His informative works on similar lines can be viewed on ProProfs Project.