Several articles have been published since the Aberdeen Group recently released a study on “Marketing Digital Asset Management: Capturing, Storing, and Retrieving Digital Media to Deliver Strategic Value,” however I want to focus on one particular figure from the study – “Qualitative Value in DAM.” To clarify, Marketing Digital Asset Management is DAM for the marketing function – makes sense. The report was authored by Ian Michiels, Sr. Research Analyst for Marketing Management & Digital Marketing, Customer Management Technology Group.
The Qualitative Value in DAM
The study reveals the following improvements for Best-in-Class organizations as a result of digital asset management implementations:
- Time spent locating content DECREASED 75%
- Employee productivity INCREASED 83%
- Asset utilization INCREASED 67%
These are some impressive stats. I particularly like the increase in asset utilization, which is a good indicator of high user adoption, high return on marketing investments and greater marketing effectiveness. Since DAM is the central repository for brand-approved assets, increases in asset utilization should also represent increases in marketing efficiency. This makes the protectors of the brand (like myself) very happy as well.
To provide a quick customer statistic, Widen’s DAM system has helped the Reebok On-field Apparel Group (now the Sports Licensed Division of the Adidas Group) repurpose each digital asset created over six times in its lifecycle versus a one-time use prior to Widen. Before Widen, Reebok used to ship physical apparel samples to their retail customers to conduct their own photography for use in catalogs and e-commerce sites. Widen’s digital sampling process and digital asset management technology allowed Reebok to give their customers on-demand access to official Reebok images, each to be used for a different purpose an average of six times per asset. In a library of 200,000 assets, that’s a lot of repurposing and brand exposure. View the case study to learn more.
Another interesting part of the Aberdeen report were the “Steps to Success,” separating companies into three categories of Laggard, Industry-Average and Best-in-Class.
Steps to Success
- Provide sales & marketing access to marketing assets
- Evaluate asset usage
- Identify business drivers and formalize process for measuring ROI
- Extend access to key stakeholders beyond sales & marketing to others in the value chain
- Standardize the use of one DAM system vs. multiple systems in one organization
- Integrate with workflow processes
- Extend access to external members in the marketing value chain
- Integrate DAM with creative applications
- Formalize process allowing users to provide feedback and rating system for content – along the lines of web 2.0
- Invest in people and processes to support the technology