“ROI takes center stage at CMO summit” was one of the headlines from the February 11 edition of the BtoB Magazine for Marketing Strategists. The author of the article, Kate Maddox, explained “Proving ROI, using new technologies and leveraging partner marketing were key topics at Red Herring's CMO 2008 conference in San Diego last week.”
With that as the indication that ROI is what marketing executives want, than ROI is what you get (with Widen as your technology partner). Ok, enough marketing…let’s find out how we can calculate a hard ROI on your DAM project.
How to calculate a tangible ROI in 3 easy steps:
1. Existing Process per Request
Things to consider: How long does it take to locate digital assets? How many minutes are spent on manual conversions? How long does it take to organize the files, burn a CD, and prepare it to ship?
2. Ongoing / Redundant Costs
Things to consider: How much money is spent on materials and shipping? What about labor costs? Are re-work and redundant photography and prepress costs a factor?
3. I.T. Maintenance / Storage Costs
Things to consider: How many hours per week are spent to support existing processes and maintenance? How many dollars per year are spent on hardware expenditures and dedicated bandwidth?
We’ll continue to discuss more of the intangible factors of your digital asset management ROI throughout the life of this blog.