Digital Asset Management Software Return on Investment
DAM software (like Brandkit) delivers big time savings, with a great return on investment (ROI).
Save
Find your content fast
While a Brandkit will also, reduce your re-creation costs, help avoid costly and embarrassing errors, increase marketing speed and cadence, reduce interruptions and generally make your life as a Marketer easier.
For most users it is about saving time.
Recent research has found the savings in time from a good Digital Asset Management solution like Brandkit, are on average about 2.69 hours per week* or 11 hours per month per marketing user.
If you take an average fully burdened annual marketing employee cost (including wages, benefits, time off, insurance, HR, office and equipment rental, training, overhead etc.) of US$100,000 a year or US$48 an hour, a DAM can save a staggering US$6,346 per marketing user every year*.
Brandkit makes finding and sharing brand content super fast and uses artificial intelligence and other logic based auto tagging, to create a super fast search engine, for just your content.
Find approved, rights managed content ready to deploy to market, almost instantly.
* Based on third party research. However these figures may be conservative. The US Bureau of Labor Statistics estimate Marketing Managers earn an average of US$66.06 per hour (unburdened) in May 2014.
Save
15 to 30 minutes
or $12 to $24
per request.
Self Service Downloads and Requests
A request for content (without a system like Brandkit in place) will take 15 minutes (or more) to respond to, then up to 15 minutes to get back into the flow of what you were focussed on, before the interruption.
Our self-service Brand Portal and optional Request workflow reduces admin time spent dealing with requests for content to zero (for Self service downloads) or almost zero (for Requests). So we can save you an additional US$12 to $24 per request (based on a US$48/hr employee cost).
This adds up:
- 1 Request per day = $3000 - $6000/per year (5 per week * 50 weeks = 250 requests )
- 3 Requests per day = $9000 - $18,000
- 5 Requests per day = $15,000 - $30,000
So depending on the popularity of your content. Brandkit can save you hundreds of hours and thousands of dollars dealing with content requests alone.
Save
up to 28%
in Asset creation costs
Avoid Duplication costs
Brand Assets are often duplicated or re-created due to the inability of users to find exactly what they are looking for. Often users don't even know some content exists, because it's hidden away in silos or scattered across storage drives.
Research by IDC suggests that Brands that utilise a good DAM system, can reduce asset creation costs by up to 28%.
Reduce risk
by up to
23%
Reduce risk of costly errors
Given the importance of getting brand identity right and communications consistent, when the wrong file or data is used, fixing or remedying the problem can get expensive fast. This may include reprinting costs, public relations efforts, publishing embarrassing retractions or legal action.
Research by IDC suggests a reduction in risk of up to 23% when using a DAM system.
According to the Analysts
The market research firm GISTICS found that 62% of marketing and creative professional spend between 1 and 6 hours per week managing files. On average this amounted to 1 out of every 10 hours (at a cost of $8,200 per year) on file management activities, which includes searching, verification, organization, back-up and security. In addition, GISTICS found that the average creative person looks for media 83 times per week, and fails to find it 35% of the time with no DAM in place. They estimated that a DAM system will help cut the amount of time searching for assets by more then 85%, and that the rate of failing to locate the media will fall to 5%.(Source: DigitalAssetManagement.com – Why DAM should be your first technology investment, 2011)
The AberdeenGroup found that “best-in-class” companies across a wide range of industries are twice as likely to use a DAM system for marketing functions than the average company in their respective industry. These same “best-in-class” companies reported a 23% year over year reduction in time to market, and an 18% increase in average return on marketing investments. When asked, “How the DAM investment impacted performance?”, 69% reported decreased asset creation cycle time, 40% said they spent less time transferring files, and 63% indicated agency fees were reduced. (Source: Ian Michaels, “The Marketers Guide to Justifying Investments in Digital Asset Management, AberdeenGroup Research Report)
Frost & Sullivan says that, “As companies add more rich digital media to their brand strategy, file sizes are exploding. Stakeholders to these assets are many times geographically dispersed, but still need to easily access and collaborate on the same assets from different locations. Through integration with third party systems using Web Services and providing conditional access control, DAM systems have now become an ideal platform to enable such collaboration in a seamless workflow.” Frost & Sullivan further predicts that the DAM market is expected to grow at a compound annual growth rate of well over 30% and achieve revenues of over a billion dollars by 2013. ( Source: Mukul Krishna, “Realizing the Value Proposition of Hosted DAM Solutions”, 2009 and “World Digital Asset Management Market, 2010)
IDC said that, “On average, marketing organizations are realizing a 34% improvement in productivity thanks to; (a) Reduced time spent searching for assets, (b) Streamlined review/ approval processes, (c) Easier collaboration with external stakeholders and (d) Better visibility into project status". (Source: Proving the Value of Digital Asset Management for Digital Marketers and Creative Teams, An IDC InfoBrief, June 2015)
IDC said that, “On average, organizations are realizing a 24% increase in revenue from digital asset management. DAM enables them to; (a) Accelerate time to delivery for marketing campaigns, (b) Increase the number of campaigns that marketers can deliver in a given time period, (c) Launch new products more quickly, and accelerate global product launches". (Source: Proving the Value of Digital Asset Management for Digital Marketers and Creative Teams, An IDC InfoBrief, June 2015)
IDC said that, “On average, organizations are realizing a 28% decrease in asset creation costs through DAM due to; (a) better asset reuse, (b) avoiding duplication of effort and rework and (c) reducing the number of assets that are created but never used". (Source: Proving the Value of Digital Asset Management for Digital Marketers and Creative Teams, An IDC InfoBrief, June 2015)
IDC said that, “On average, organizations are seeing a 23% reduction in risk by preventing; (a) Non-compliant use of licensed content, (b) The wrong (or unapproved) assets being used and (c) Intellectual property being leaked or stolen". (Source: Proving the Value of Digital Asset Management for Digital Marketers and Creative Teams, An IDC InfoBrief, June 2015)