Infographic: DAM vs MRM – What’s the difference?
Within the marketing technology (MarTech) stack, it’s crucial to use powerful solutions for storing, adapting and diffusing all kinds of media, but also for organizing your business processes, human resources, budget planning and of course for analytics and tracking. DAM (Digital Asset Management) and MRM (Marketing Resource Management) are commonly used in this context. But what’s the difference between these two, what does each offer specifically, and how can you decide on which one to use? Discover our infographic on this topic and get your questions answered!
When you are working in marketing, finding the right solution for your specific needs can sometimes be challenging. There are a lot of acronyms thrown at you, which all promise to help you in handling and overcoming your various marketing challenges. Core technology solutions like Digital Asset Management and Marketing Resource Management need to be chosen carefully, deployed optimally, and actively promoted to deliver maximum value. You especially have to prove the value of the chosen solution within your company. But when it comes to DAM vs. MRM, many people are confused – are both offering the same things? What can you expect from using a DAM vs using an MRM? Is one better than the other in certain aspects? Which one should you choose or do you might need both? If you’re struggling to understand or explain Digital Asset Management (DAM) and Marketing Resource Management (MRM), here’s what you need to know. Let’s dive into the definitions of both systems, as well their various features and benefits in order to find how to which one is the best fit for you!
DAM vs. MRM – definition of both solutions
First things first: What do we mean when we are talking about Digital Asset Management and Marketing Resource Management?
Digital Asset Management
Digital Asset Management helps companies organize, store, share and diffuse all kinds of media on various channels. DAM acts as “Single Source of Truth”, which means that it provides a central repository of valitated assets which can easily be shared among different teams, channels and markets. On the upstream, it offers the ability to control these assets with validation workflows, enforcing their associated rights and ensuring their history and traceability. On the downstream, it enables you to diffuse your visual marketing (photos, vidéos, 3D…) on all your existing channels. A DAM also provides you with fundamental insights concerning your content performance thanks to scoring functionalities.
Marketing Resource Management
Marketing Resource Management describes a range of different technologies and also processes around the creation and organization of marketing resources. MRM systems let you organize and automate these processes, helping manage the human, digital and physical resources you rely on, including budget planning.
The features of DAM & MRM
Now let’s take a look at Digital Asset Management and Marketing Resource Management features and functionalities.
Digital Asset Management features
A DAM offers you a central repository of all your marketing assets. Finding, sharing and searching for assets is easy thanks to metadata and taxonomy management, including advanced indexing features. User rights can be managed precisely, which gives you full control over your content flow. Your assets can also be edited and adapted for each channel which facilitates their diffusion and distribution. Artificial intelligence allows you to dynamically contextualize these assets. With extensions like Wedia’s Content Picker, your creative team or other stakeholders can have access to all relevant media, without leaving their traditional workplace solutions such as Microsoft Office or the Adobe Creative Cloud. When you are looking to adapt your global marketing strategy for local markets, a DAM combined with a tool such as our Distributed Marketing Management module comes in handy as well: Customizable templates ensure that your local teams can adapt all content that has been validated beforehand to ensure brand consistency and messaging. On top of that, a DAM supports you in constantly measuring and scoring your content performance which allows you to improve the efficiency of your websites, eCommerce sites and social media activity, and understand how different markets, channels and customer segments engage with your media. This is possible, when you combine Digital Asset Management with Digital Experience Management – the two form a real powerhouse that gives you a cross-channel view over your marketing assets.
Marketing Resource Management features
Thanks to a MRM, you can manage all the resources you need in order to create efficient and streamlined marketing campaigns workflows: from strategic and financial planning (including a budget, timesheet and event management) to the automation of your creative processes and finally your media and planning execution. An MRM allows you to centralize all your internal and external workflows and ensure that your editorial calendar and therefore your brand management is how you want it to be.
What benefits can you expect from a DAM or a MRM?
Since you now know a lot more about the key features of a DAM and a MRM, you might ask yourself which results using these solutions might offer you. Let us tell you, there are numerous advantages that come with using Digital Asset Management: First, you are able to streamline every step of the content lifecycle which will lead to smooth workflows, improved efficiency and more productivity for all parties involved (internal and external). Logically, communication between different departments will therefore improve. This translates into a real time and money saver in the long run. Having full control over your assets also means that you have visibility over compliance such as regulatory issues. Since a DAM makes asset distribution and diffusion easy and fast, you empower your (sales) channels and can deliver the best customer experience everywhere you want to diffuse your media. In the day and age of omnichannel marketing, this is a must-have for all marketers. As mentioned above, you’ll also be able to adapt your contents to local markets, which is an especially crucial element for global players within their overall marketing strategy.
Marketing Resource Management on the other hand provides you with major benefits when it comes to your overall marketing organization. As a central source for all your processes, you can effortlessly allocate all your marketing resources and therefore work strategically in different aspects, such as budget, human resource planning and of course your editorial planning. This leads to an improved collaboration between your coworkers (including external partners), brand consistency and an excellent overview about your marketing ROI.
DAM vs MRM – which one is the best for you?
The short answer is: It depends. When you are looking for a central asset hub that facilitates your asset management, ensures consistency, boosts overall productivity, and ultimately generates more sales – Digital Asset Management is your solution of choice. Combined with modules such as Distributed Marketing Management or Digital Experience Management, you are also able to expand your marketing efforts to local and omnichannel level. Thanks to content scoring, you’ll know precisely how your assets perform, which are highly valuable insights in terms of analyzing your marketing contents. When you are all about planning processes and improving and automating these, marketing resource management is the right thing for you. Especially for all those, for are into detailed budget planning and performance management. Please note that when it comes to DAM vs. MRM, you don’t have to necessarily choose one over the other. In fact, both are highly complementary. For some, using a Digital Asset Management with all its benefits might already be the perfect match, while others might prefer to add Marketing Resource Management to the mix.
Wedia, a SaaS software company, offers leading international brands a Digital Asset Management (DAM) solution, a marketing software that meets the needs of a content-centric marketing strategy.