As we venture further into the digital age, almost every company in existence has some form of digital assets. Referring to any content that’s stored digitally, it covers everything from images and videos to text files and spreadsheets.
Put simply, these files are assets because they hold value. But just how valuable are they for your business? Read on as we take a closer look…
One way to determine the value of your assets is by looking at how much you have invested in them. If you have a brand logo, for instance, you could have paid anywhere upwards of £200 for a graphic designer to create it. That’s paired with your team’s time consulting on the logo, which could be a matter of hours or even days.
Alternatively, if you’ve bought the rights to stock images, they would be worth whatever you’ve paid for them. But things become more complex when it comes to spreadsheets containing company or client data. In terms of the time spent acquiring that data, the value could reach a pretty hefty sum. But that still doesn’t reflect the fact that most business would see this data as ‘invaluable’.
Another way to look at the value of your assets is in terms of what you expect to gain from them. This gives a better estimate for things like client data, which can continually provide returns for your business. The same is true for images and videos, which can be used again and again across multiple channels to maximise their ROI.
Perhaps the best example of this approach is your website. A digital asset in itself, your website is more than a sum of the images, text and plug-ins that make it up and the time that has been invested. Instead, consider the revenue your website drives each month. Whether it’s your target audience finding you online or customers making orders directly, websites can provide thousands of pounds (or much more) in revenue.
Digital assets are highly valuable to your business, both in terms of the money you’ve invested in them and the potential returns they could provide. That’s why it’s so important to:
iBase can help you tick both of those boxes with our innovative digital asset management software. Packed full of features to help you upload, edit, retrieve, share and securely store your assets, our system can help you protect your valuable assets – and maximise the value you get out of them in the long run.
If you have any questions, our team is ready and waiting. Arrange a one-to-one demo to put iBase to the test.
