Most business investments boil down to one question. Is it worth it? With digital asset management (DAM), the value is often justified in terms of productivity and how easy it will make life for your team. However, a survey by Adobe shows that this actually has a measurable impact on revenue too.
'Proving the Value of Digital Asset Management' was published by Adobe and IDC in 2015. As the name suggests, its aim was to discover just how valuable DAM is to businesses that have implemented it – and how valuable it could be to those who haven’t.
To do so, they performed in-depth interviews with leaders from creative and digital marketing agencies. They also conducted an online survey with 123 leaders from a broad range of industries, including manufacturers, retailers and creatives.
As expected, the survey found that 97% of companies that have invested in DAM have since increased productivity by 10% or more. Even better, a third of businesses (34%) said it increased productivity by 40% or more. They were able to increase campaign volume, accelerate time to delivery and launch new products quicker. That increase in productivity isn't going unnoticed in terms of their finances...
On average, organisations saw a 24% increase in revenue from DAM. Almost 4 in 5 (79%) companies saw an increase of 10% or more, and more than 1 in 5 (21%) saw a leap of 40% or more in their revenue. In many cases, this means DAM can effectively pay for itself.
Of course, revenue isn't the only area of a company's finances. Fortunately, DAM has even been found to reduce outgoings. Why? Before DAM, over three quarters (76%) of companies said it would be difficult to find assets. As a result, they would actually end up recreating assets that already existed. Similarly, 64% reported a “duplication of effort”. Because they didn't have a shared repository, different teams would be working on similar content or assets without realising.
Both of these issues come at a cost, and both are resolved by DAM. Organisations saw an average decrease of 28% in asset creation costs thanks to DAM. A massive 97% reported a decrease in costs of 10% or more, while a reduction of 25% was achieved by well over half (57%).
From better brand consistency to higher productivity, there are so many great reasons to invest in DAM. Now revenue has officially joined the list too.
If you're one of the few businesses that hasn't tried out the system, it's time to put that right. iBase offers a free trial of our DAM software with our iBase Express account. Sign up online today to try it for yourself with no obligation.