In today’s economic climate, there’s more scrutiny than ever before to justify the expense of a digital asset management platform. Designed to improve productivity throughout the asset lifecycle, it’s historically been a challenge to quantify productivity gains until now.
Digital Asset Management Return on Investment (ROI)
At Tenovos, we systematically check in with our customers and benchmark our platform’s impact on areas where productivity gains and cost savings are paramount. The areas that make up digital asset management ROI are as follows:
Localization At Scale Can Significantly Improve Digital Asset Management ROI
Many global brands spend significant time and money localizing their content. Not only is this costly, but it slows down campaign launches and can occasionally create manual errors. With Tenovos, brands can dynamically translate assets by pulling content from a PIM or third party and creating translated derivatives.
One global toy manufacturing company saves $1.4 million per year by reducing the creative costs required to generate translated renditions manually.
Amazingly, according to Forrester Research, 65% of content created is never used. Unused content not only wastes time and money to create but can unnecessarily add to storage (cloud) costs. A good digital asset management platform should encourage content reuse, reducing the amount of content that needs to be created and improving campaign speed to market.
The average Tenovos customer has seen up to 66% increase in content reuse due to improved content discoverability. Content never being published or utilized is down 40% as our customers can better monitor how much content they need. Both reduce storage costs (in the thousands) as storage requirements are less. Tenovos is also a certified AWS partner, allowing for savings on cloud storage. Calculations are based on content usage before using Tenovos.
Dynamic Templates Speed Time to Market
One of the many uses for final assets published from the DAM is consumer-facing content such as posters, flyers, and other promotional materials. Unfortunately, these are incredibly time-consuming to create. Tenovos allows marketing teams to pull assets directly from the DAM into pre-defined templates allowing teams in the field to create and print confidently and quickly.
A global liquor company saves $730k annually by eliminating the need for marketing teams to create and localize marketing materials manually. Even for second or third-generational purchases, the need to prove digital asset management ROI is paramount, particularly as the costs of content creation and software increases. Justifying the investment is necessary, and your DAM should have access to the reporting insights you need to prove ROI to your executive team.
Creating Content More Efficiently
No longer just for archiving, some digital asset management platforms have evolved to include built-in workflows to streamline the complexities of creating content. The more functionality a DAM offers around content creation, the fewer issues that arise around version control, missed communication, and task management.
Tenovos customers experienced a 32% increase in productivity attributed to faster asset discovery and built-in workflows that automate and streamline the content creation process. The calculation is based on processes before using Tenovos.
Tenovos customers report virtually zero costs incurred due to rights infringement. This is because of advanced rights management functionality being built into the Tenovos DAM, allowing legal teams to review all finished assets before publishing. Published assets can also be tracked and unpublished from social and the web in real-time. Finally, Tenovos offers enterprise user management so brands can easily manage who has access to what content. Calculations are based on content usage before using Tenovos.
How a DAM Increases Team Collaboration
Like any software, the more users work within the platform, the more benefit they get from it. User adoption is one of the biggest barriers to digital asset management ROI. A successful DAM should be able to marry the ease of use with enterprise functionality that keeps them coming back for more.
57% of Tenovos customers reported an improvement in collaboration between departments. This improvement was attributed to easily sharing assets between teams and built-in workflows to streamline and automate the creation and approval process. Calculations are based on content usage before using Tenovos.
Brand Consistency Promotes Digital Asset Management ROI
Nothing is more painful to a creative and marketing team than realizing that your brand isn’t consistent across campaigns and channels. Old imagery, talent, messaging, and even logos can hurt consumer perception of your brand. A digital asset management platform should be your one source of truth for all content providing clear direction on current and old assets.
The average Tenovos customer has reported, on average, a 71% increase in brand consistency. This was down to improved content reuse, built-in approval workflow, and the ability to track and manage images published across social and the web. Calculations are based on content usage before using Tenovos.