In the age of data privacy and protection, influencer marketing, and social media, legal and marketing have to find new ways to effectively work together without overwhelming legal or delaying marketing’s execution. Thankfully, enterprise lifecycle management (ELM) can help.
Enterprise lifecycle management can help facilitate collaboration between legal and marketing by streamlining marketing requests and more quickly and efficiently executing contracts.
Here are more ways ELM improves collaboration between marketing and legal.
Finalize marketing contracts
Marketing teams enter their fair share of contracts — influencer agreements, content licensing agreements, and independent contractor agreements, to name a few. Marketing also works with its own vendors and service providers, all of whom have to go through a risk assessment process before they even work on the contract.
With an ELM, marketing and legal can collaborate to finalize contracts with less effort and in less time. ELM allows you to streamline and automate common marketing contracts for faster turnaround times, empowering marketing to launch campaigns faster. Plus, the data from those contracts can help marketing strategize partnership campaigns in upcoming months, quarters, or years.
Angelica Perrone, director of demand generation on the LinkSquares’ marketing team, shares how she uses ELM in her day-to-day process:
“As a marketing leader, I regularly assess and approve contracts for various aspects of our operations, including events, marketing software, billboards, and digital advertisements. This process lets me monitor contract progress with the legal team and seamlessly collaborate when evaluating terms and risks. By leveraging our eSignature tool, we can expedite contract completion, kickstart our campaigns sooner, and stay on track to achieve revenue targets. With immediate access to finalized contracts, I can quickly retrieve necessary information for future changes or negotiations.”
Track website compliance
With new cookie laws going live every year, legal needs to be aware of the data that marketing collects on the website, and how well the site complies with data privacy and protection laws. Marketing needs to be intentional about the data they collect on the website and how they communicate that to consumers.
With contract lifecycle management, you can track your privacy terms in contracts across the business, including your terms of service and privacy policy. Then, collaborate with marketing to ensure that your data collection practices align with the terms in your agreements.
Review marketing collateral
Most brands — if not all of them — have a profile on at least one social media platform and post a variety of links, pictures, and videos. Social posting can be a key part of a company’s brand strategy, but the wrong posts can expose your company to unnecessary risk and give legal heartburn. But checking each social post before it goes live is not a valuable use of your time.
Mary Curtin, Manager, Growth Marketing at LinkSquares shares how ELM helps her work with her legal team :
“In the day-to-day of managing our marketing campaigns, there's no room for hiccups to slow us down. By leveraging Prioritize and our incredible legal squad, it's incredibly easy. I just send off our content with a click, they review it, and we're good to go. With this seamless collaboration, we've made the whole process easy, letting us focus on getting creative without breaking a sweat over the legal stuff.”
Instead, legal and marketing can collaborate on workflows to review marketing assets. You can track common requests in your ELM and set up flows that allow for seamless collateral review. Together, legal and marketing can decide how to automate common tasks, figure out the necessary lead time on approvals, and establish publishing best practices. This way, both teams can focus on more high-impact tasks.
Takeaways
Though marketing and legal may seem to be on opposite ends of the business, your work is closely intertwined. Given today’s regulatory landscape, legal and marketing need to collaborate to ensure compliance in marketing contracts and website cookie practices. Using ELM, your teams can work together to figure out a process for streamlining marketing collateral review so that your teams can spend time on what really matters.
Want to see how LinkSquares ELM helps bridge the gap between marketing and legal? Contact us today.
