When deciding whether or not to invest in a new project, there are four main ROI points that companies and brand executives look for:
- Reduce costs and increase efficiency
- Create new revenue opportunities
- Increase brand recognition and competitiveness
- Optimization of investment returns
How does DAM help brands reduce costs and increase efficiency? How can I help brands save money?
To reduce costs and increase efficiency, it is necessary to improve the operational efficiency of brand content. DAM provides an online, centralized, and secure repository for a brand's content assets, improving operational efficiency by:
- The first step to saving money - do more with existing resources: Break down the silos of decentralized content management, and reuse and share high-quality content across multiple distribution channels and new marketing scenarios.
- Step 2 - Do the same or more with less: 1 system used by multiple regions, departments, teams, and people is the consolidation of multiple old tools, and the input of one tool replaces multiple tools.
- Save Money Step 3 - Reduce Costs by Optimizing or Changing Workflows:
- Reduce the time cost of content search, and make content assets easier and faster to find;
- Because it is found, good content can be reprocessed, reducing or eliminating the cost of re-creating new content;
- Create new, more automated, and streamlined content collaboration workflows where all branded content is stored, approved, and accessed in a single system, eliminating duplicate management and repetitive communication—never underestimate the impact of these workflows on employee satisfaction.
Can DAM help brands sell more products and services? How to help brands make money?
Generating new revenue is usually achieved by 3 actions: 1- developing new products or services, 2- finding new uses for existing products and services, and 3- exploring new or adjacent markets for existing products.
The first step to make money: when brands develop new products and services, they need to synchronize the information of the corresponding new products/services; DAM can accurately associate content with product information, disassemble old content (logos, images, graphics, original design files, video clips, audio files), and reprocess them into "new content" (such as product manuals, long graphics and texts, mixed videos, etc.). In this way, the update and iteration of new content can be synchronized with the development and market launch of new products and services, shorten the creation cycle of marketing content, and accelerate the time to market of new products/services.
The second step to make money: DAM can display the latest product content on PC, mobile phone, WeChat, applet, micro official website and other ports, so that cross-regional and cross-time zone marketing teams, agents, distributors, and store clerks can achieve the same frequency collaboration of new product content, so that the development of new markets and the delivery of marketing content are more agile and faster scale.
We have done a set of industry statistics, after adopting DAM, the efficiency of content collaboration and access between brand headquarters and distributors has increased by 3 times, and the speed of content from production to reaching new markets and consumers has increased by 4 times.
DAM empowers brands to reduce costs and increase efficiency
What is the connection between DAM and brand recognition & competitiveness? How to help brands make money continuously?
Improving brand awareness and competitiveness depends not only on (short-term) advertising traffic, but also on good products that really impress customers and consumers, and then deliver them through good content. The premise of polishing content is to bring consumers a consistent brand experience and retain consumers, so as to achieve business conversion.
- With DAM, everyone from marketing teams to field sales to account representatives uses up-to-date, consistent, approved content or product information to better enforce and monitor content specifications and brand style, giving end consumers a consistent product feel, brand experience, and recognition.
- When DAM is connected to the content delivery platform, the content performance data can be tracked back. These real-time data can provide brand marketers with better references for new content ideas and better retain users.
- All information related to brand IP and content asset use licenses can be managed in DAM and information reminders can be set to resolve brand asset risks in advance.
- These values are supported by industry data: after brand IP information is managed in DAM, the compensation and legal costs of celebrity endorsements caused by content misuse can be reduced by at least 30%; Channel recall costs due to content misuse can be reduced by up to 40%.
DAM helps employees better enforce branded content specifications
Is there a relationship between DAM and the optimization of investment returns? How to help brands continue to save money + make money?
At first glance, the two don't seem to be directly or indirectly related, but they do. In the technology ecosystem of brand digitalization, DAM plays the role of the "golden master system" for centralized and automated management of brand assets. As mentioned above, DAM can not only centralize brand content assets, associate product information and corresponding content, control brand IP information, but also track content usage and channel performance data.
If you can count:
- Which departments and employees share and access content the most?
- What types of content are used the most?
- What content is best aligned with the brand guidelines?
- What high-quality content is frequently reused and re-produced?
- What content interacts with consumers the most?
This data can help you get more annual budgets from CXOs to launch new marketing outreach initiatives; The analysis of the activity and performance of these contents can be used as a political and incentive means to eliminate the content that is not good enough and make better use of the good content, so as to achieve compound interest and investment optimization of content production.
We helped a leading brand in the FMCG industry calculate an account:
- Before the brand did not do digital content management, it relied on traditional human communication to share collaborative content materials, which took an average of 13 minutes each time. With DAM, it is reduced to 7 minutes. The entire content management and collaboration process has been improved by 45%; Based on the fact that the DAM system has 100 internal and external active users, the staff time is saved by 176 hours/month, and DAM directly saves the brand 1.55 million/year in labor costs.
- Through the DAM system, the brand has also completed the transition from pure manual to automated cross-channel distribution of material content, improving the efficiency of content distribution and reach by 85%, saving at least 800,000 yuan in agency content operating costs every year.
- Because of DAM, the good content of the past is found and reused, which not only saves the cost of repeated production, but also saves the cost of wasting old content because it cannot be found. According to the average production cost of each content is ¥5000, an average of 250 pieces of content are avoided every year to avoid duplicate production and waste, and the brand's content production can save an average of 125w per year.
- For this FMCG brand, the total savings in labor costs, operating costs, and content production reached 3.6 million yuan/year!
Any software system is just a tool, and it must have a deep understanding in order to use it well and play its value.
A prerequisite for DAM to realize value
As a brand marketer, you need to identify the values mentioned above that are most important to you, your team, and your organization, and then weigh them against the cost of content technology before deciding whether it is worth the digital upgrade of content management, and when.