DEAR DR. DAM: Hi, this is Paul from Iowa. I am in senior management at a food processing company. In response to studies indicating that we need to improve our marketing presence on the Internet, we recently made the decision to allocate more of our marketing and advertising budget for the creation of high quality digital assets. To adequately represent the products that we sell, all of our images and videos need to be high definition and professionally produced. The end result of this is that we have filled our corporate image library with top notch digital assets…but at a cost. And I mean COST because when the board looked at the numbers, all you heard was a collective gasp. Our top executive looked so stressed out that I was honestly concerned that he was going to have a heart attack during the meeting!
It’s true that we had already decided to proportion such and such funds for this endeavor but it still turned out to be more than was expected. Because of this, we are feeling pretty hesitant about purchasing enterprise digital asset management programs. It can’t be denied that we need some sort of rich media management solution but we are going about the decision making process in a very careful and calculated manner. Since the production of those videos and images was so darn expensive, one of the features we would love to see is a way to measure the ROI of materials from our digital asset library that are used in marketing campaigns. So, Dr. DAM, in effect, this is my question: “Are there digital asset management tools to assess the ROI of our marketing assets”?
DEAR APALLED BY COSTS PAUL: Although I am sure those high definition, high quality digital assets will pay off in the long run, I understand how stressful it can be to make such a large investment in marketing materials. Like you, once I get my blood pressure back down to normal and come to terms with spending large amounts of money on something, I want to see if the investment was worth it. Of course it can be very difficult to tell if the results are indicative of the money that was spent, especially so when it comes to marketing.
Fortunately, the people at Widen have thought of this and have developed tools to help you analyze and assess your usage and ROI of those costly digital assets. With online digital asset management solutions to include tracking, reporting and analytics tools, you will be able to more accurately ascertain which assets are showing positive results and earning their keep by being repurposed time and time again. In addition to knowing which assets should continue to be used or discarded, the data will also provide valuable information for marketing budgets and show who, where and how your materials are being used. Not only can DAM tools assist in repurposing your digial assets, but it can help you with accountability and effectiveness of your people as well. Feel free to request a demo to get a better idea of how it can help you assess ROI of expensive brand assets.