The Widen 2017 Marketing Technology survey shows DAM systems are fulfilling multiple business functions, but there’s still opportunity for expansion.
The third installment of our annual MarTech survey is complete and shows three great opportunities for survey takers and DAMsters alike. We’ll share some of our findings and how you can apply them to your organization.
DAM fulfills multiple business functions, but there’s still room for more
When asked, “What business solution do you use Widen for?,” brand management and content marketing were the clear winners, coming in at 59.49% and 56.96%, respectively.
These two business functions are core to marketing in the digital age. And they support each other. The Content Marketing Institute describes content marketing as “a strategic marketing approach focused on creating and distributing valuable, relevant, and consistent content to attract and retain a clearly-defined audience — and, ultimately, to drive profitable customer action.” The increased volume and velocity of content creates an opportunity for brands to extend their reach, but it also puts them at risk of not presenting a consistent, coherent brand image and story.
For the 40% that didn’t mark their DAM system as a brand management solution, consider these ways you can use DAM to manage your brand.
Possibly the biggest opportunity for businesses is to extend their DAM system into sales enablement, which 36.71% indicated they do. If you’re wondering what sales enablement is and if it’s another way you can use your DAM system, Forrester says, “Sales enablement is a strategic, ongoing process that equips all client-facing employees with the ability to consistently and systematically have a valuable conversation with the right set of customer stakeholders at each stage of the customer's problem-solving life cycle to optimize the return of investment of the selling system.” The most common way we see organizations use a DAM system for sales enablement is by creating curated collections of sales collateral that a salesperson can quickly access and share with their buyer.
If your salesforce needs better access to their collateral, explore these two free ways to use DAM for Salesforce and one paid connector.
When you begin using your DAM for these purposes, it becomes much more than a repository for your visual content — it becomes a content marketing hub that supports your organization’s growth.
DAM is still primarily seen as a cost-saving tool
We also asked survey takers, “How does Widen improve your business?,” 84.41% shared that DAM helps them decrease costs through more efficient work processes. 62.03% shared that DAM helps them decrease costs by reducing rework, and 59.49% said it decreases costs through content reuse.
Roughly a quarter of organizations are tying DAM to revenue-driving efforts through better sales support and more effective marketing. While not the majority, it’s encouraging to see that businesses are showing maturity in being able to extend their DAM system past simply reducing costs and using it to actually increase revenue.
Measurement of these savings is limited
While the majority of survey respondents identified that DAM improves their business through cost savings, 36.59% reported they do not measure their improvements. 30.49% rely on anecdotal evidence, like reductions in staff time and staff feedback.
Despite being directly tied to the DAM system, only 20.73% of survey respondents are measuring their business improvements with Widen Insights. If you’re interested in creating custom dashboards to measure asset and system metrics, check out this webinar featuring Natalie Daller of Pampered Chef. She shares how they use Insights for data-driven strategy and measuring success.
To really share the impact of your DAM system, pair anecdotal evidence with an ROI model that fits how your organization is using your DAM system.
There’s a wide variety in marketing technology being used
Businesses are still using a wide variety of marketing technologies. In each of the categories, survey questions received diverse responses. Adobe, Salesforce, and Microsoft were some of the most frequently mentioned software vendors.
Email, Office suites, DAM, project management, and design technologies were all frequent answers to the open question, “What are the top software solutions you use in your work every day?”
Across 2017, 2016, and 2015 response data, Adobe Creative software came up as the most important Widen integration.
Here’s a look at the top two responses and the percent of companies who responded “none” in seven MarTech categories:
Top web content management (WCM) software used
Top marketing automation software used
Salesforce Pardot: 15%
Marketo, Silverpop: 10% (tied)
Note: Marketo had the largest increase in use, up from 1.75% in 2015.
Top social media management software used
Salesforce Social Studio: 8%
Top project and workflow management software used
Basecamp, Workfront: 11% (tied)
Top customer relationship management (CRM) software used
Microsoft Dynamics: 8%
Top email marketing software used
Note: In 2017 data, several software solutions were offered by multiple respondents in the “other” response — mostly Pardot, Silverpop, Marketo, and HubSpot.
What digital analytics software does your organization use?
Google Analytics: 73%
Adobe Analytics (Omniture): 5%
Check out Widen’s expanded set of connectors and APIs at widen.com/integrations.