Business growth would be impossible without good management. It implies having control over all resources necessary for continuous work. And once the company reaches a certain point, it can’t and shouldn’t design and implement projects without good management. That’s necessary to ensure goal achievement, maintain and improve the quality of products and services, and cut costs and potential risks.
Work of the marketing sector should support the chosen strategy and enable results in real-time. For this to be possible, each individual or team must perform the assigned tasks, which are given based on their skills and expertise. It’s clear that all these segments need good coordination and organization, and that’s what marketing project management does.
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When implementing project management in marketing, planning is the first and inevitable phase. That makes sense because running a business without a plan has no point. This phase is crucial but also challenging and sometimes tedious since it should be comprehensive and detailed. Missing even the smallest segment can be a costly mistake.
In the planning phase, communication is key. It’s glue for all stages, from the very beginning and the task and resources division to the executing stage and the task completion within the deadline. It can speed up this stage and improve team productivity and, more importantly, motivation. So good project management is of great importance, as well as tools that enable more efficient communication.
Before the planning phase, it’s critical to define the goals of a specific project. For example, you want to expand the client’s social media presence on popular networks. That’s what you form an effective marketing strategy around. Only then can you define the project from start to finish, its scope and resources, and the stages in the implementation.
The goals are defined by listening to the client’s wishes, but also by analyzing their possibilities and limitations. Clear goals allow the project manager to handle multiple tasks to achieve one desired goal. And when you know what you’re aiming for, you know what needs to be done, when, and in what way to reach the goal.
Read below what SMART goals are:
Better Team Communication
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Again, good communication is a must for the success of any work in all its phases. Its lack can significantly delay and even threaten the implementation, which eventually leads to failure and wasted effort, time, and resources. That won’t happen if information flows through teams.
Communication should be direct, open, and prompt so that mistakes can be noticed and corrected on time. Sharing information about work, problems, and ideas contributes to the project’s success. That’s why all team members should participate. And it’s always better to have everything recorded so that everyone can assess it anywhere, anytime.
Improved team communication leads to a better workflow. The effective use of communication tools and apps within project management software contributes significantly to this. Things like internal chats or e-mail threads ease communication between departments, which comes in handy in case the company hires remote teams.
In order to have insight into the progress of anything you do, constant monitoring and analysis are necessary. That gives an insight into how and how many resources you spend, thereby assessing the project’s cost-effectiveness.
Calculating ROI is important not only after finalizing the job but also in all its phases. That way, you can timely notice what drains your resources for nothing, as well as things that can be improved to optimize costs and resources.
Marketing managers use many tools to keep an eye on task profitability. Also, they use particular programs to determine which of them brings the highest conversions. If you do several tasks at the same time, the ROI calculation will tell you which are the most profitable. Also, you’ll know which ones should be suspended or postponed because they aren’t a good solution at the moment.
In business, uncertainty is a factor that should be minimized as much as possible. Although there are things you can’t influence, there are ways to predict them and thus reduce the risks for your marketing projects. Here’s the list of common risk that should be stressed as the business progresses and the project becomes more extensive.
With the increase in the project scale, the need for good management not only brings benefits but also significantly reduces the number of potentially unknown factors that can impair the final result. With good project management, you can predict problems, shorten the time to react to them, and lower the potential damage that can occur due to delays and mistakes.
Whether you run a startup or a developed business, project management has become an integral part of the business. Proper implementation brings many benefits because it enables resource optimization, better communication, and fast detection of problems that cause downtime.