Whether you’ve been using the Widen Collective® for months or years, you might wonder: How are we doing?
Are we getting the most value out of the platform? Where can we improve? How can we do more? What should we do next?
To answer those questions, we created the Widen Brand Management Maturity Model. This tool helps you assess your maturity with digital asset management (DAM), allows you to benchmark your use of the Widen Collective, and plan where to go from here.
Take the assessment now or read on to learn why the assessment matters, what the criteria means, and how it can improve your return on investment (ROI).
Why is brand management worth benchmarking?
Like most of our customers, you probably use the Collective to organize your brand assets to expand into new markets, launch new products or services, and introduce new experiences. The maturity of your brand management practice influences how quickly you can go to market and how efficiently you can drive new revenue.
What are the maturity criteria?
When assessing the maturity of any software deployment, we think five criteria matter most: strategy, people, process, technology, and impact.
While each can be assessed independently, collectively, they speak to an organization’s ability to use DAM for brand management. Let’s define each term:
Michael Shattuck, Consulting Manager at Widen, defines strategy as knowing today why and how you're going to win tomorrow. People, process, and technology are somewhat aimless without a guiding strategy. It’s the foundation of brand management.
DAM without people is like a bicycle without a rider. People do their best work when they manage, maintain, and use their DAM system in alignment with a strategy. The most mature organizations that embrace the power of DAM to its full potential have at least one full-time DAM administrator and a wide, diverse user base.
A process is a defined, repeatable set of steps for getting something done. Often, organizations start using a DAM system without discussing how to categorize assets, tag metadata, or proof and approve new content. Processes enable people to follow the strategy consistently.
Technology is merely a tool that people use to complete processes that further their organization’s strategy. The Collective is comprised of five native apps and dozens of integrations that fundamentally change the way brand management is executed.
Impact is a measurement of not just the strategy, but the way it was interpreted and applied to people, process, and strategy. Impact includes direct metrics like user adoption and content reuse. It also includes indirect metrics like cost savings and increased revenue.
How do you measure these criteria?
The Widen Brand Management Maturity Model assesses these five criteria on a five-point scale. The idea is straightforward: if you know where your brand management is lagging, you know where to focus your efforts. The scores also help our customer success managers (CSMs) and advisors determine how to be most helpful to your team. Here’s the scale:
- Ad hoc: The Collective is not widely understood or adopted at your organization.
- Allocated: Part-time resources are allocated to ensure that the Collective is a part of your workflow.
- Dedicated: Full-time resources are dedicated to ensuring that the Collective is an important part of your workflow.
- Strategic: Resources are consistently devoted to ensure that the Collective is critical to your business strategy.
- Distinguished: The Collective’s role in your operations puts you among the best in class.
We predict that most brands will be at the allocated or dedicated level because martech has evolved so quickly, and organizations use an average of 91 marketing cloud services (as of 2017). It’s hard to optimize 91 systems!
The Maturity Model is about your return on investment
The Widen Brand Management Maturity Model is important because it is a rigorous way to improve your return on investment. One way or another, organizations implement martech solutions to increase revenues and/or reduce costs.
The Collective is no exception. It can increase revenue by supporting your communication, sales, and e-commerce channels with high-quality content. And it can reduce costs by allowing you to design and deliver better content faster, while expending fewer resources.
According to our customers, the top business benefits of DAM are:
- Decreased costs through more efficient work processes
- Decreased costs through content reuse
- Decreased costs by reducing rework
- Increased revenues through more effective marketing
- Increased revenues through better sales support
- Increased revenues through reaching a wider audience
- Reduced risk of lawsuits
If you feel like you’re missing out on one of these benefits, now is an ideal time to take the Brand Management Maturity Model assessment.
After you’ve finished the assessment, get started by further unpacking the discovery questions, best practices, and tips for advancement right for your organization.
Contact us for assistance in putting the Widen Brand Management Maturity Model to use at your organization.
Already working with the Widen team? Connect with your customer success manager (CSM) or advisor to discuss the discovery questions and maturity assessment. They’ll work with you one-on-one to identify opportunities and design a plan for improvement in your brand management practice.