Most marketing and creative professionals know that a digital asset management (DAM) platform makes their jobs easier and helps their organizations thrive. But, quantifying the value of DAM can be tricky.
Calculating return on investment (ROI) helps you measure how a DAM platform benefits your organization, so you can find the best platform for your needs.
To determine ROI, it’s important to understand the three significant ways DAM benefits your company…
One of the biggest benefits a DAM platform offers is saving time. The solution makes it easy to find assets, so employees spend less time searching for files and don’t waste time recreating lost assets.
The timesaving potential goes beyond helping employees find files quickly. Marketers can post to multiple social media channels efficiently with software that allows them to choose the right size and resolution for various social media platforms, reducing time spent manually resizing images.
DAM also helps employees collaborate, providing a central location where they can retrieve assets easily. This eliminates bottlenecks that delay projects when only a few people can access files.
In addition to saving time, DAM saves money for your organization. One way DAM cuts costs is by reducing the number of hours employees spend searching for files or needlessly recreating assets, freeing them to be more productive.
DAM also saves money by helping organizations manage assets more efficiently. When employees can find files easily, companies waste less money repurchasing lost assets.
A DAM platform helps your organization keep track of relevant rights information for licensed materials, such as images purchased from a stock photography website. This way, organizations avoid unnecessary fees associated with relicensing or repurchasing assets.
Reducing storage costs is another way DAM saves money. It automatically converts files to the required format, eliminating the need to store multiple versions.
Because creative and marketing professionals spend less time searching for assets and more time focusing on the creative process with DAM, this leads to more productive employees, who ultimately provide more value to your organization.
By keeping your valuable files secure and centralized, your team will enjoy much greater control over your files. This translates to efficient creative processes, deeper insight into the value of your work and a stronger, more consistent brand overall.
After you’ve identified the benefits for your company, you’re ready to calculate DAM ROI. For more details and a sample formula for calculating the ROI, download our white paper:
How does DAM help your organization? Share your thoughts in the Comments section. And don’t forget to mention the hard-to-quantify benefits, such as less frustration over lost assets, and smoother, more satisfying workdays.