Creating new marketing materials can take a long time, resulting in a longer than necessary time to market for new campaigns. Moreover, marketing campaign delays happen to be one of the biggest cost-contributing factors.
A GISTICS Research study shows that the time to market of global campaigns can be reduced by 5-15 days with the help of brand management systems. Depending on the industry, improving time to market of new campaigns can mean as much as an additional $10-20 million in profit, if not more. For fast-moving markets such as fashion, pharmaceuticals, and consumer products, a faster time to market can hold even bigger advantages.
Bynder has successfully worked on reducing new media lead-time with companies from these and many other industries. The following are bottlenecks in new media creation that we have come across.
Transfering media is often both time consuming and frustrating. Sending large image and video files is not always easy, especially when different people are accustomed to using different consumer file transfer services (Dropbox as opposed to FTP or WeTransfer, for example).
Grueling Communication Paths
It is hard keeping everyone up to date and effectively communicating feedback at the best of times. When you throw the daily creation of hundreds of new media items such as product images into the mix, the risk factor of items being misplaced increases exponentially. Versioning and online proofing in particular complicate ordinary communication channels to the extent that they simply do not function.
Everyday tasks often do not start out as such, but end up becoming a daily nuisance. Misunderstandings, a poor versioning structure, and a decentralized workforce often result in occasional tasks being unnecessarily executed time and time again.
A Lack of Overview
A busy team often handles multiple projects simultaneously. In such situations, namely, when every employee is juggling several important tasks at once, a lack in overview for upcoming tasks and project progress is a problem that often occurs. A lack of overview in turn makes it tricky to prioritize the correct tasks, and results in a longer time to market.
In short, a marketing resource management system will help you to vastly reduce media circle time. Learn here how Bynder’s Creative Project Management module can help you to eliminate these seemingly inevitable bottlenecks and quicken the time to market for every single one of your marketing campaigns.