Maximizing ROI from Digital Asset Management (DAM) Investments
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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 successful
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Maximizing ROI from Digital Asset Management (DAM) Investments
- 1. Maximize Return on Digital Asset Management (DAM) Investments: 3 Secrets to DAM Success: Workflow, Collaboration, and Customization December 4th 2013 We will begin shortly
- 2. Agenda Agenda Agenda Today’s Panel Leslie Weller Director of Marketing Ian Michiels Principal Analyst & CEO Erika Rosenberg Knowledge Manager Ryan Gritz Director, Processes Support Systems
- 3. Agenda Benefits of Digital Asset Management (DAM) 3 Secrets to Maximizing ROI on DAM Investments Measuring the Success of DAM Key Recommendations
- 4. TODAY’S STATS Survey Respondents Total survey responses: 459 Today’s Stats & Methodology PERFORMANCE BASED ALGORITHM 2013 Content Survey (Aug. 2013) n= 265 2013 Web Content Survey (May. 2013) n= 194 Revenue Growth Asset Utilization User Adoption Ratio Top Performers: Respondents that achieved Top Quartile performance in key KPI’s Everyone Else
- 6. Content Content Proliferation Isn’t a DAM Problem Asset Goal: Transform Content into Assets
- 7. CONTENT Create Manage Archive What do DAM systems do? DAM Systems Capture Retrieve Store ASSETS
- 8. Benefits Of Digital Asset Management
- 9. 89% Capture Metadata 65% 82% Search / Discovery 91% Distributed Access to Centralized Files Benefits of DAM (Reasons to Implement) 73% 75% 67% Time Savings 78% 54% Cost Savings 86% 49% Rights Management 28% 43% Security 37% 0% Top Performers 25% 50% 75% Everyone Else 100%
- 10. 67% of Respondents plan to increase budget for content management initiatives in 2014 Investments in DAM on the Rise 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.
- 11. 78% Usability 56% 72% Standardized Taxonomy Continue to See the Same Challenges 24% 65% Adoption 40% 51% Capturing Metadata 37% 35% Defining Business Case 29% 0% Everyone Else 20% 40% 60% Top Performers 80%
- 12. Usability Metadata Adoption Taxonomy How can we make the systems valuable to users? How do we align the technology with operational processes? Themes in the Challenges
- 13. What Are Top Performers Doing To Mitigate These Challenges?
- 14. 35% Integration with “Higher” Level of Effort 33% Granular Security existing systems 49% Collaboration How Current DAM Users Maximize the ROI in DAM Mid Level of Effort 54% Open Access via Any 70% Workflow Platform 67% Search Low Hanging Fruit 73% Re-Use of Content Top 2 ways to maximize investments in DAM according to All Respondents. 43% Licensing & Rights Management
- 15. Support the unique aspects of each organization. CUSTOMIZATION 3 Secrets to Success According to Top Performers COLLABORATION WORKFLOW Support demands of a distributed workforce. Support business process - not just file capture.
- 16. Top Performers are: 3x more likely than Everyone Else to utilize systems that support Version Control Workflow 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
- 18. DAM can provide a centralized repository for rich media to be consumed across a variety of mediums including the internet and mobile Collaboration 73% of Top Performers ranked distributed access to centralized media as a top 3 reason to implement DAM Let’s hear from Lippincott
- 21. Four Implementation Goals 1. Determine core set of data 3. Formalize workflow 2. Enlist beta testers 4. Develop targeted training modules
- 22. Six Key Offerings Brand Strategy Brand Activation and Management BrandView Organizational Engagement Experience Innovation Design and Expression
- 24. Workflow and Collaboration are only valuable if users are in the system Customization 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?
- 26. Measuring The Success Of DAM
- 27. Tangible metrics to measure ROI in DAM aren’t always easy to come by. How do you measure success? Here’s what Top Performers say: User Activity 45% Cost Savings 30% Digital Asset… Production / Cycle… -20% 0% 28% 24% 20% Top Performers 40% 60%
- 28. 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 Measuring User Activity = System Utilization Ratio Total # of users in the system 14 12 10 8 6 4 2 0 January February March April May
- 29. Agency Hard and Soft Cost Savings in DAM Benchmark Results Before and After BEFORE IMPLEMENTATION Measuring Cost Savings Average Hourly Salary x Time Spent in Manual Tasks x Number of Users = $ Cost of Time Spent Before DAM AFTER IMPLEMENTATION Average Hourly Salary x Time Spent in Manual Tasks x Number of Users = $ Cost of Time Spent After DAM
- 33. Questions? If your questions are not answered (live) we will follow up with you via email.
Editor's Notes
- In fact, I recall during our prior discussions Ryan, at the XO Group, mentioning building structured metadata was one of your implementation goals with your DAM. Can you tell us a little bit about the XO Groups goals in using a digital asset management solution and what the XO Group is doing around workflow?
- Ryan:Provide a high level on the challenges before Cumulus , why they chose CumulusTouch on Implementation GoalsBuild structured metadata setsCatalog all magazine assetsCatalog all photo shoot assetsDesign automation for asset ingestionWhat they are doing around workflowMagazine workflowPhotography workflowGleanster Question:How did XO Group determine what workflows would be developed first?Talk about Photography workflow30 binders, 15 DVDs eachFrom 2005+Across all brandsPhoto Shoot Automation Reorganized files on DVD’s to fit new structureUsing Roboflow, built hot folder to process filesProcessed all DVD’s in four months145,000+ recordsGleanster Question:Was there a governing committee or stakeholder group involved in the process? Photo Shoot Folder Structure (Show in Live Environment)Show in your environment , Upload resultsGleanster Question:Are there additional workflows that they are looking to implement their workflow?
- Erica, top performers rely on DAM technology for a number of capabilities that help support and enhance internal collaboration. At Lippincott, your DAM is critical for your teams collaboration. Can you tell us about Lippincott’s goals in using a digital asset management solution and how it helps with your teams collaboration?
- ErikaProvide a high level overview on Lippincott’s challenges before Cumulus & why they chose CumulusTouch on implementation goalsGoal 1Goal 2Gleanster Question:What is Lippincott doing around collaboration?Talk about how Lippincott uses Cumulus SitesTouch on how the executive team uses Sites to pull various slides in Cumulus and create a PPT deck (focus on this area)How they’ve branded the site to increase adoptionGleanster Question:Does Lippincott have plans in the future to help improve their collaboration?The ability to send notes and provide comments
- ErikaProvide a high level overview on Lippincott’s challenges before Cumulus & why they chose CumulusTouch on implementation goalsGoal 1Goal 2Gleanster Question:What is Lippincott doing around collaboration?Talk about how Lippincott uses Cumulus SitesTouch on how the executive team uses Sites to pull various slides in Cumulus and create a PPT deck (focus on this area)How they’ve branded the site to increase adoptionGleanster Question:Does Lippincott have plans in the future to help improve their collaboration?The ability to send notes and provide comments
- ErikaProvide a high level overview on Lippincott’s challenges before Cumulus & why they chose CumulusTouch on implementation goalsGleanster Question:What is Lippincott doing around collaboration?Talk about how Lippincott uses Cumulus SitesTouch on how the executive team uses Sites to pull various slides in Cumulus and create a PPT deck (focus on this area)How they’ve branded the site to increase adoptionGleanster Question:Does Lippincott have plans in the future to help improve their collaboration?The ability to send notes and provide comments
- What has your organization done to customize your DAM?Erika can touch on how Lippincott has customized their DAM to make it easier to use/increase adoption?Talk about how they branded solutionRyan can touch on how XO Group has customized their DAM to make it easier to use/increase adoption?Metadata specific to XO Group assetsWorkflow specific to their industryIan to ask: How does your companies deliver value from your DAM?Erika & Ryan talk about how they get value from their DAM.
- Ryan and Erika can contribute to the conversation use it as a group discussion.
- Ian: Simplicity in the eyes of the user comes from 3 questions:Can I find what I need?Is it easy to upload files?Does the system make my life easier?Consider the Asset LifecycleThe stage of an asset matters.Separate work-in-progress, production ready, and archived assetsEngage users when making a purchase decision on DAM – it should not be made exclusively by management.Consider subjective surveys with end-users before investing- capture their experiences on ranking scales that can be benchmarked laterExample: Can you find assets in the system (1-5)?
- RyanWhat was the biggest hurdle you had to overcome, and how did you manage it? ErikaWas it hard to get the Lippincott team to start using your DAM? How long did it take?What did you do to help get your team get onboard?IanBased off your research where might the top performers be investing specifically? LeslieWill we be able to get a copy of the report?