Digital Asset Management (DAM) System ROI On DAM!
Digital assets are files like documents, videos, photos, music, and other media. Almost everyone in the competitive business sector is aware of the significance of Digital Asset Management (DAM). Business people prefer and invest in the professional DAM system designed for storing, sharing, and organizing digital assets in the central location. These files are considered assets and include the rights to use them. They grow exponentially as the creation as well as sharing of digital content increases.
DAM system amplifies the overall advantages of creative files such as videos, images, and other media. It is a suitable time to concentrate on the content sharing and storage location of the company and make a well-informed decision about how to get the highest possible Return On Investment (ROI) in the DAM.
What is Digital Asset Management (DAM)?
DAM is designed to operate on a collection of digital assets. Every user of this system can make certain that it ensures that the owner and their delegates can do important things on data files. There are so many management operations on digital assets. However, some of these operations are creation, indexing, workflow, version control, and access control.
DAM liberates all teams and keeps the entire branding materials associated by centrally storing the maximum amounts of digital content. It increases the digital assets’ safety, organization, and searching ability. It expands content storage while successfully uploading the brand standards and empowers personnel by supporting them to focus on things that matter.
Benefits offered by DAM To Businesses
- Harmonization
A DAM solution makes certain that every member and department involved in the company has up-to-date asset versions. The best-in-class DAM system supports all users to track the entire updates and history of every file in real-time. There is no mismatch between countries or headquarters that use outdated files.
- Metadata
A DAM system is useful to keep track of files, but also store enriched and embedded information regarding each one like origin, technical specifications, copyright, and associated keywords. You can easily access this metadata and modify the metadata fields and also permissions related to reading or modifying such fields.
- Better security and encryption
A DAM system ensures that each file is protected in the storage center and in every channel they are sent through. Once you have started using this system, you can add enterprise-level encryption protocols and also other functions like the watermark in the entire visual assets.
- Advanced search
You can search for files by name, data, or any other important thing as long as you make use of the simple storage system. The overall searching process is specialized with a DAM which saves you time. All users of this system nowadays can manage associated keywords, collections, categories, and subcategories.
- Controlled access
A DAM is designed to register every administrator and member with reading or edit-only access as well as other security elements such as 2-step authentication.
- Savings
The three important elements of savings are costs, resources, and time. A DAM achieves reduces time to market for the launch of the product, fast process, and enhances the team coordination because its centralized portal designed to adapt to any size of the company with scalable functions
- Content backup
The asset management system is helping a lot in different situations especially when an alteration is wrong or the user needs to go back to an outdated version. This system saves the history of the files and previous versions of the file with the nature to be recovered at any time.
- Consistent brand image
The entire virtual assets used in the channels, as well as platforms, will be up to date because of its centralization. This plays the main role in the overall impact on the brand image of the company. This brand image will be professional and harmonious across logos, fonts, and images.
As a business owner with an interest to improve the visibility of your brand on the target market within a short period, you can choose and use the digital asset management software right now. You will get excellent assistance and be encouraged to properly use this software with no complexity in any aspect.
- Connections to other management software
Your company distributes or sells products and you wish to have such product images properly stored in folders and integrate them all through the product content network. You can prefer and use the digital asset management system hereafter and start a step to get an array of benefits. The first-class design of the DAM works along with other popular product management applications like the product information management system.
- Plugins
An outstanding DAM system does not end with the proper management of digital assets as it adds dynamics, photo and video editing, eCommerce integration, automated creation or editing workflow, connection to other cloud storage, format conversion, and other important things.
Regular updates of plugins these days assist all business people to get different benefits from the proper use of the digital asset management system. You can think smart and follow suggestions to decide on how to successfully use plugins with no compromise on your expectations.
What’s the ROI?
Return on Investment (ROI) is a popular performance measure designed to evaluate the profitability or efficiency of an investment or compare the absolute efficiency of any number of different investments. This performance measure tries to measure the amount of return on a specific investment relative to the cost of the investment.
The benefit of an investment is divided by the cost of the investment for calculating the return on investment.
The return on investment result is expressed as a ratio or a percentage. ROI is a renowned profitability metric designed for evaluating how well an investment has performed at this time.
How to Measure ROI?
The important things required for calculating the ROI are the total revenue, gross profit, and net profit.
- The total revenue
The total revenue is the entire money generated for the marketing campaign before any deduction. It is the top line on the sales generated.
- Gross profit
Gross profit is another important element that is revenue gained via direct marketing activity minus the cost of goods sold for delivering or creating a service or product.
- Net profit
Net profit is also required for the calculation of ROI. It is your gross profit generated by the marketing spend minus the entire expenses incurred. ROI calculations are far more complex in the competitive marketing sector than other fields because of different variables on the cost and also return sides.
The following details explain to you some of the most popular ROI formulas.
“(Sum of returns – a sum of investments) / sum of investments”
This ROI formula is based on the gross profits of entire units sold in the marketing campaign and the marketing investment for such a campaign. This formula gives users a percentage return on costs associated with marketing.
“(Customer lifetime value – investment) / Investment”
This ROI formula can be used when you consider your expenses.
How to Get Higher ROI on a DAM?
New and regular users of the digital asset management software nowadays get ever-increasing interest to know how to successfully maximize the return on investment. You can streamline the overall processes and save priceless time via easy sharing and repurposing.
The efficient use of all resources does not fail to reduce the campaign expenses and increase marketing efficiencies. The first-class resources involved in the digital asset management system accelerate time to market and promote brand consistency.
Choosing the right DAM designed to deliver a measurable ROI is an expectation of almost everyone in the competitive business sector at this time. You can focus on how to get tangible marketing success with the DAM and use every chance to maximize ROI on a DAM.
A good DAM system is designed to be a centralized content hub. This system is aligning with so many departments and helps the company to reach its overall business goals.
If you are aware of how the digital asset management system works for the marketing department, then you can make a good decision and enhance your routine efforts to use this system for increasing the return on investment.
You must manage the brand and keep the marketing consistent. The first-class nature of the DAM system supports the marketing department to make its entire band asset management efficient.
A DAM system is also designed to assist the sales department to achieve the goals. Sales and marketing departments work closely. For example, materials used by the sales department are produced by the marketing department.
Wrapping Up
An excellent digital asset management system is useful a lot for everyone who needs to deal with digital assets in different forms like images and video files. An embedded file acceleration system alleviates the problem associated with waiting hours for uploading and downloading image and video files of large size.
All users of the DAM nowadays get a good improvement in the success rate of their business and confidence to recommend it to others. They use every chance to be successful and smart in their way to engage in the competitive business sector.
