maximizing roi from digital asset management (dam) investments
Post on 14-Sep-2014
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Looking to build a business case for your organization’s digital asset management needs? Gleanster Research will share what they discovered as a result of their recent study on how top performing organizations leverage digital asset management. How do they do it? Hear firsthand the decisions and improvements top performers have made with their DAM environments that have helped make their organizations successful. Common themes include: workflow, collaboration, and customization. Prepare now to measure the success of your DAM deployment. See what top performers use to measure their success with DAM and take away actionable steps to measure your own digital asset management effectiveness. Attend the live panel discussion webinar to: - Compile useful information to build a business case for a DAM - Gather key recommendations from top performing DAM users on how to ensure your initiative is successful - Take away valuable metrics to use on your own DAM investment Hear from top performing organizations on how their workflow, collaboration and customization is configured to ensure they are successfulTRANSCRIPT
December 4th 2013
We will begin shortly
Maximize Return on Digital Asset Management (DAM) Investments:
3 Secrets to DAM Success: Workflow, Collaboration, and Customization
Ian MichielsPrincipal Analyst & CEO
Erika RosenbergKnowledge Manager
Leslie WellerDirector of Marketing
Ryan GritzDirector, Processes Support Systems
AgendaAgendaAgenda Today’s Panel
Agenda
Benefits of Digital Asset Management (DAM) 3 Secrets to Maximizing ROI on DAM
Investments Measuring the Success of DAM Key Recommendations
PERFORMANCE BASED
ALGORITHM
Survey Responden
tsTODAY’S STATS
Total survey responses: 459
2013 Content Survey
(Aug. 2013)n= 265
2013 Web Content Survey
(May. 2013)n= 194
Top Performers: Respondents that achieved Top Quartile performance in key KPI’s
Everyone Else
Revenue Growth
Asset Utilization
User Adoption Ratio
Today’s Stats & Methodology
Content Proliferation Isn’t a DAM Problem
Content Asset
Lifecycle Classification
Storage & Retrieval
Metadata
Digital Media
ValuableNot So Valuable
vs
Content Proliferation Isn’t a DAM Problem
Content Asset
Lifecycle Classification
Storage & Retrieval
Metadata
Digital Media
ValuableNot So Valuable
Goal: Transform Content into Assets
What do DAM systems do?
DAM Systems
Create
Manage
Capture
Store
Retrieve
Archive
CONTENT
ASSETS
Benefits Of Digital Asset Management
Benefits of DAM(Reasons to Implement)
Security
Rights Management
Cost Savings
Time Savings
Distributed Access to Centralized Files
Search / Discovery
Capture Metadata
0% 25% 50% 75% 100%
37%
28%
86%
78%
75%
91%
65%
43%
49%
54%
67%
73%
82%
89%
Top Performers Everyone Else
Investments in DAM on the Rise in 2014
67% of Respondents plan to increase budget for content management initiatives in 2014
Why? Operational infrastructure takes a back seat
during a down economy – good sign for 2014 Proliferation of digital content continues at
exponential rates Demand for emerging digital media continues
to grow – rich media, mobile access, etc.
Continue to See the Same Challenges
Defining Business Case
Capturing Metadata
Adoption
Standardized Taxonomy
Usability
0% 20% 40% 60% 80%
29%
37%
40%
24%
56%
35%
51%
65%
72%
78%
Everyone Else Top Performers
Themes in the Challenges
Usability
Adoption
Metadata
Taxonomy
How can we make the systems valuable to users?
How do we align the technology with operational
processes?
What Are Top Performers Doing To Mitigate These Challenges?
How Current DAM Users Maximize the ROI in DAM Low Hanging Fruit
Mid Level of Effort
“Higher” Level of Effort
Top 2 ways to maximize investments in DAM according to All Respondents.
73% Re-Use of Content 43% Licensing & Rights Management
67% Search
54% Open Access via Any Platform
70% Workflow
35% Integration with existing systems 33% Granular Security
49% Collaboration
3 Secrets to Success According to Top Performers
COLLABORATION
CUSTOMIZATION
WORKFLOW
Support business process - not just file capture.
Support demands of a distributed workforce.
Support the unique aspects of each organization.
Workflow
Top Performers are:
3x more likely than Everyone Else to utilize systems that support Version Control
5x more likely to use systems that are capable of converting content into other formats (such as high or low res images, etc.)
9x more likely than Everyone Else to use business rules and workflows to streamline metadata capture and reduce the burden of manual entry on the end user
Let’s take a look at what the XO Group is doing with their workflow
Collaboration
DAM can provide a centralized repository for rich media to be consumed across a variety of mediums including the internet and mobile
73% of Top Performers ranked distributed access to centralized media as a top 3 reason to implement DAM
Let’s hear from Lippincott
1. Determine core set of data2. Enlist beta testers
Four Implementation Goals
3. Formalize workflow4. Develop targeted training modules
Brand Strategy
BrandViewBrand Activation and Management
Experience Innovation
Organizational Engagement
Design and Expression
Six Key Offerings
Customization
Workflow and Collaboration are only valuable if users are in the system
There’s a direct correlation between return on investment and use of DAM
How do you deliver value from DAM? Content is regularly uploaded and tagged with metadata Access to content- search and you shall find Usability – Is the system intuitive?
Top Performers tend to customize earlier
Measuring The Success Of DAM
How do you measure success?
Tangible metrics to measure ROI in DAM aren’t always easy to come by.
Here’s what Top Performers say:
Production / Cycle Time
Digital Asset Utilization
Cost Savings
User Activity
-20% 0% 20% 40% 60%
24%
28%
30%
45%
Top Performers
Measuring User Activity
Large Financial Institution: Measures system utilization on a monthly basis Tells them when to investigate issues in workflow and
areas of customization
# of users that logged in each month
Total # of users in the system= System Utilization Ratio
January February March April May02468
101214
Measuring Cost Savings
Agency Hard and Soft Cost Savings in DAM Benchmark Results Before and After
Average Hourly Salary x Time Spent in Manual Tasks x Number of Users= $ Cost of Time Spent Before DAM
Average Hourly Salary x Time Spent in Manual Tasks x Number of Users= $ Cost of Time Spent After DAM
BEFORE IMPLEMENTATION
AFTER IMPLEMENTATION
Measuring Ease of Use
Key Recommendations
Key Recommendations
Questions?If your questions are not answered (live) we will follow up with you via email.
Canto.com blog.canto.com @Canto
Thank you!