widen digital asset management roi models

Digital Asset Management

(DAM) ROIHow to justify your investment in DAM

$

DAM makes it easy to find and share your visual contentso you can get it to the right channel, in the right format, for the right people, at the right time.

It delivers all kinds of benefits

Increase marketing

productivity

Improvebrand control

and consistency

Strengthencustomer

relationships

Drive greater revenue

streams

Accelerate timeto market

And makes your teams more productive

?So, what’s it costing your organization NOT to have a DAM solution?

60-70% of content in B2B organizations goes unused.

In Use35%

Hard to Find11%

Unknown to Users

17%

No Budget10%

Low Quality

8%

Irrelevant19%

Source: The SiriusDecisions 2015 True Cost of Content Study

Fact: Unused ContentUsed Content

$

X

$2.3M

Source: The SiriusDecisions 2015 True Cost of Content Study

Midsize companies with $100M to $1B in annual revenue waste $2M on content spent because it’s unusable or unfindable.

Fact:

Over $1B$100M - $1B Under $100M

$800K

$6.8M $15.2M

$100K

$2.0M

Unproductive SpendProductive Spend

DAM ROI Formulas To estimate your cost savings from DAM

Search and Share Time SavingsThe amount you could save annually by using a DAM solution to find and share your assets:

______ Average hourly salary of staff finding and sharing assets (e.g., $25)

x ______ Estimated staff hours per week to find and share assets (e.g., $20)

= ______ Annual Savings (e.g., $26,000)

Asset Fulfillment SavingsThe amount you could save in staff salary by using a DAM solution for asset fulfillment:

______ Number of asset downloads per year (e.g., 120,000 assets)

x ______ Minutes to complete download prior to DAM (e.g., 3 minutes*)

= ______ Total hours spent on request fulfillment (e.g., 6,000 hours)

x ______ Average hourly salary of staff finding and sharing assets (e.g., $25/hour)

= ______ Salary savings with DAM (e.g., $150,000)

*Widen customers report an average of 3 to 4 minutes to fulfill asset requests.

Asset Creation and Repurposing SavingsThe amount you could save annually by using a DAM solution to help create and repurpose assets:

______ Estimated value of individual assets (e.g., $300)

x ______ Number of lost assets per year (e.g., 200)

= ______ Annual savings (e.g., $60,000)

Customer ROI Case StoriesTo help you justify DAM to your team

Manufacturer and retailer of scented candles, candleholders, accessories and dinnerware

Before DAM: The marketing team had difficulty sharing files and communicating their brand message consistently with key stakeholders in the marketplace.

After DAM: The team easily shares files from a central source of truth and consistently promotes the Yankee Candle brand everywhere it’s represented (Europe, Asia, New York or Illinois).

ROI: • Enabled international distributors to easily find approved branded images and logos

• Allowed the right people to download and repurpose images into their languages and marketing materials

• Reduced asset fulfillment from 10 days to 10 minutes

• Helped the company become more responsive and grow business internationally

Finding and sharing assets

Sales rep sends email to marketing client

Traffic coordinator receives creative request and logs in request book

Image is sent to traffic coordinator

Marketing sends image back to sales rep

External client calls sales rep to request an image

Marketing contact fills out image request and sends to creative request inbox

Creative request is processed

Traffic coordinator sends image back to marketing contact

Sales rep emailsimage to external client or mails them a CD

Process done in 8-15 days, depending on the complexity of the project

Before DAM

External client logs into Yankee Candle’s intranet and clicks on the DAM library link

External client finds desired image(s) and selects the Download button

External client identifies a need for an image(s)

External client searches the DAM library for images

An email is automatically sent to the external client with a link to the requested image(s)

Process done in approximately 10 minutes

After DAM

Clothing retailer of tactical gear for law enforcement, military and public safety professionals

Before DAM: 5.11 Tactical’s dealer base didn’t have access to approved, high-quality assets, so the design team was responding to hundreds of image requests a day.

After DAM: Dealers get up-to-date brand assets, photography and marketing materials for use in catalogs, marketing materials and e-commerce projects. The design and development teams also use the same assets internally for their presentations.

ROI: • Provided dealers with easy access to all 5.11 Tactical product photography and information

• Helped dealers build their retail brands by giving them high-level, professional images

• Gained insight into how their brand assets are being used – who downloaded what, when and from where

Empowering dealer brands

“75,000+ plus assets were sent out from the DAM system in the last 4 years. If each one took me 1 minute to process in the old way, then Widen has saved me about 31 weeks worth of time.” Phil Baird, Graphic Designer

Global medical technology providerfor specialists who treat cardiac, neurological and chronic pain disorders

Before DAM: Marketing and administrative teams wasted valuable time just searching for images. Images didn’t meet brand standards, were downloaded from the internet with royalty limitations or were not professional looking. Historic work had been lost completely.

After DAM: All teams can find brand-approved images in a central location. Project timelines are met and a higher level of creative work is being produced and shared.

ROI: • Cross-department visibility of all assets

• Streamlined team efficiencies and cost savings from not having to redo projects

• Preserved all historical assets

• Built a stronger, more consistent brand identity

Finding and repurposing assets

Projected Savings

35 marketing communications employees spend an average of 10% of their time/week searching for files:● 35 employees x 4 hrs/week = 140 hrs/week● 140 hrs/week x 50 work weeks = 7,000 hrs/yr just

searching for filesAdd administrative time (uploading, cataloging, and sending files):● 10 hrs/week for 4 people = 40 hrs/week, an

additional 2,000 hrs/yrLack of cross-department visibility:● Projects have to be redone frequently to meet

brand standards and/or use appropriate imagery

Historical work lost, including:● Cross-divisional internal brand work, costly work

from agencies● Examples: brochures that cost $2-$12,000, videos

that cost $4-$50,000● Original images have been lost from costly photo

shoots (approximately $2,500 per product shoot)

Searching for files slows down marketing communications work, as teams miss deadlines because they’re spending so much time trying to find files.

Nonprofit organizationfocused on raising student achievement in public schools

Before DAM: Approved assets couldn’t be found, so staff members used their own photos without appropriate permissions. Time was wasted searching for images and internal deadlines were getting pushed back.

After DAM: All TFA photos and videos are organized in a central location and all staff can quickly access approved brand images they want, when they need them.

ROI: • The creative team can search for the exact image or video they want (i.e., small group, teacher and one student, student only)

• The team no longer spends 75 hrs/month or 900 hrs/yr just searching for files

• The creative team can do more photoshoots each year and create more proprietary images for a stronger brand

Maximizing proprietary images and videos

Projected Savings

5 employees spend about 75 hrs / month searching for files. At $28.80* an hour, TFA spends $25,962 searching for photos each year.

Industry standard suggests that a DAM will cut search time by 75%, so TFA would save $19,471 a year by investing in a DAM.

Assuming an initial investment of $14-25K and approximately $5-12K a year after that, it'll pay for itself in two years.

*Assuming an average salary of $60,000 and 2,080 hours per year, the creative team earns an average of $28.80 an hour.

Beyond resources saved, a DAM will enable TFA to repurpose approximately 675 creative team hours resulting it:

● More project timelines met or finished early● Higher level of quality in the creative work● Higher capacity for marketing projects● Reduction in redundancy, rework and/or work lost● Stronger, more consistent brand identity

A DAM would provide security, backing up of files and linking publicity releases directly to photos.

“Huge time savings! I could easily suggest photos for people I manage or regional staff and simply send them a link. This would cut down on revision rounds.” Suzi Speeding, Senior Art Director

Higher Education Institutionfocused on faith-based liberal arts

Before DAM: The university used a fragile system that didn’t effectively manage assets from all departments. They feared losing valuable history and had little visibility into their assets, no way to repurpose them and no way to convert or share them.

After DAM: The university has preserved the history of their brand and institution and gained total visibility into all new assets being created.

ROI: • Collected and organized brand assets in a central location with controlled access

• Saved time and money by converting files on the fly with a DAM system

• Gained control over the Ottawa University brand and presented a consistent story

• Allowed departments to easily share and repurpose approved assets

Preserving and protecting the brand

Have questions? Contact:marketing@widen.comwww.widen.com