There’s no doubt that a digital asset management solution is an investment. Generally, DAM solutions aren’t cheap, which is why prospective customers often ask Northplains to help build their business case for a DAM. One way we do this is by explaining how a DAM contributes to a company’s bottom line.
How is ROI Measured?
There can’t be a business case for a digital asset management solution without reference to return on investment (ROI), which can be measured in a number of ways.
ROI and Time Saved
How much time is spent each day searching for assets? The reduction in employee time spent searching for assets, as well as the efficiency a DAM can bring to the approval process, will significantly impact your ROI. Nestlé, for example, has worked diligently to speed up their packaging approval process using their marketing asset management solution, and has experienced great results such as increased efficiencies and reduced time costs.
ROI and Compliance
A lack of compliance (i.e., rights management infringement, failure to meet industry regulations, etc.) can severely damage your brand. Many of our customers operate in highly regulated industries (e.g., alcohol), so it is imperative that their DAM system ensures compliance through rights management. Our robust solutions allow users to attach specific information to their assets such as intellectual property (IP) rights and legal regulations, as well as geographic limits. This allows marketers operating in a 24/7, omni-channel environment to act quickly, confident in the knowledge that their message is compliant, regardless of where it’s published.
ROI and Asset Reuse
How often do employees fail to find an asset they’re looking for, resulting in asset reproduction? With an implemented DAM solution, the need to recreate content because an asset can’t be found is greatly reduced, saving time and money. By tracking asset usage, repurposing assets within the organisation – and marrying this with the standard measurements of a campaign, such as likes, shares or sales – the true value of an asset can be gleaned.
Additional ROI Benefits
Although harder to measure, additional DAM benefits through the reduction of third party agency costs are no less significant. These cost savings are realised by reducing and/or eliminating costs associated with the management and transfer of content. Increases in ROI are also realised through the localisation of content, as well as transparency within an organisation that the right culture and DAM solution can engender.
Ensuring a Successful DAM Implementation
When correctly planned for and properly implemented, there is little to no chance that your DAM will not deliver a ROI. One of Northplains’ customers cites a 6:1 ROI from its digital asset management solution. It isn’t easy, but with your organisation’s firm belief in the value of the solution and the processes it has put into place to ensure its success, increases in ROI like these can be yours.
Calculate Your DAM ROI
Use Northplains’ ROI calculator to see how much a DAM solution could save your business. Our calculator includes the three biggest areas a DAM system can save your organisation:
- Asset recreation/duplication
- Time spent searching for assets
- Distribution costs