Since MRM solutions come in all shapes and sizes, and often overlap with other categories within the Enterprise Marketing Management umbrella, there isn’t a one-size-fits-all solution as to which MRM to select. In fact, the answer is often to use MRM software in tandem with other tools.
This can serve as a deterrent to some. With the rise of so many softwares and technologies to choose from, companies can be reluctant to bombard their employees with yet more onboarding to systems that could be hot today, but yesterday’s news tomorrow.
Despite some of the gray area surrounding the software, market conditions for MRM software look positive. According to the results of a 2017 CMO Study conducted by SiriusDecisions, Marketing Resource Management software made the top 10 list of marketing technology that CMOs will invest in over the next two years, with 39% indicating they will be investing in MRM software. The global market is predicted to be worth $9.01 billion by 2020.
The short answer to whether your organization should invest in an MRM? Yes. As noted above, all forecasts point to Marketing Resource Management software as being a driving force in the future marketing world. If you don’t invest now, you may quickly fall behind. The long answer is that the type of MRM, and what platforms you combine it with, simply depend on your needs