The short answer is everything else that’s part of your job.
Have you ever accounted for how much time managing your marketing assets takes you? We don’t just mean checking inventory to make sure the collateral you need is ready for the industry conference at the end of the month. We mean every part of managing your assets, from idea to design to printing to ordering to delivery and all the other steps that fall somewhere outside this flow, such as inventory monitoring, reordering, tracking effectiveness, and not to mention finding the collateral you want in the maze of your digital archives.
So how much time does this take away from your other work duties? More than you thought? Exactly.
So, if you weren’t managing your marketing assets, what could you be doing? You could become the highly productive employee that gets noticed by the boss and put up for a promotion!..or something like that.
Let’s dive into two more realistic scenarios:
Boss: “Hey Steven, do we have enough product #251 flyers to bring with us to the trade show in Los Angeles next weekend? I’d like to have at least 75.”
Steven: “Let me check on that and get back to you.”
If Steven was managing the company’s marketing assets himself, he’d have to leave his desk to take a trip to the storeroom and count all the flyers for product #251. Now, what happens if there isn’t enough? Steven would have to go back to his desk. Place an order with a printing company and hope that the flyers could be delivered on time. How long did that take? Probably anywhere between 30 to 45 minutes.
In that 30 to 45 minutes, Steven instead could have completed his marketing report on the target demographics for the company’s new product #252.
Julia is a senior marketing manager for her company. She is responsible for marketing one of their product lines that normally does well during the February – April months. For this campaign, she had their sales team focus on bringing trifolds about the product line to their sales meetings.
All was going well with the campaign and halfway through the period, the company had surpassed the projected sales goal. Good job Julia!
However, there came a hitch in the project when two months in, her sales team requested more. This request halted the campaign. She didn’t order enough trifolds in the beginning of the campaign to meet these requests and had to put another order in.
Now she had to wait for the trifolds to get printed shipped and delivered before the campaign could continue. She may have been surpassing sales goals before, but now the company was barely making any for this product line.
If Julia’s marketing assets were managed through a distributor who set up a management system within her company all of this time and missed opportunity would have been saved! The system would track for her, which sales reps used collateral and how much. It would also provide her with real time inventory alerts so she would have known ahead of time that her inventory for the trifolds was getting low and could have ordered more before she ran out.
If she did set up a system perhaps her campaign would have continued on its record breaking growth and Julia would have had an extremely successful campaign meeting with her superiors.
Implementing a marketing asset management system allows you to spend more time on tasks that are going to get you one step closer to meeting the goals you have set to accomplish. What could you be doing instead of managing your marketing assets?