The right sort of digital asset management tools can help in determining the ROI of particular assets, but what about the ROI of the entire DAM system? Although challenging, these calculations can be made by looking at the right factors. These would be variables that affect cost and are directly related to the DAM system value. In general, DAM systems have a pronounced effect on labor costs because they increase efficiency and productivity. This is due to the simple fact that employees spend much, much less time searching for assets and less effort determining what's most current or effective. The DAM system helps content creators and users quickly find what they are looking for (or not looking for but should access) and spend more of their time being creative and productive, thus earning the company more money.
The ROI of digital asset management programs is also demonstrated in savings on asset production because they make the repurposing of assets that much easier. Being able to repurpose existing digital assets through more channels and in more forms increases their value as the assets and users of those assets become more powerful. These factors are explained in more detail in this other Widen blog post about calculating the ROI of your DAM software.
It's important to know how to calculate the ROI of your DAM system because this lets you know if the system is working as it should. If you haven’t been able to repurpose much labor after incorporating the DAM system, maybe its use hasn't been fully adopted. There might also be issues related to the taxonomy and metadata that cripple your DAM system.
Likewise, if there hasn't been any decrease in production costs of assets, maybe system users are not doing enough repurposing of assets. This could be due to problems with the system or a sign that users need more training.
To learn more about how Digital Asset Management can help you manage the explosion of digital media and get more value from your digital assets, take the tour on your own.