Time – it’s a peculiar thing. It seems like just about everyone has their own take on it. Some talk about it’s linear properties, other about relativity; still others dabble in some quantum hocus pocus.
But at Flight by Canto, we examine time in more pragmatic terms. We’re talking digital asset management (DAM), a SaaS that streamlines the time it takes to search and organize your media library so that your team doesn’t waste it.
But we’re going to look at time in more than one tense – what matters too is the chronology from the very first inkling of wanting to implement DAM and onward.
We understand that executing a DAM strategy can be a large commitment in both time and money, but the benefits are indisputable. Simply put, a DAM’s capacity to truly revamp the way you organize your branded assets and to liberate your company’s workflow makes it a powerful instrument, but even still, adopting it is a big decision.
Breaking down the process into its attendant components, into tenses, may simplify and facilitate the decision-making. Just as the stream of time has its distinct past, present, and future, so does the course to implementing a DAM.
Before you make the final decision to move forward with a DAM, we suggest that you participate in due diligence and conduct an honest appraisal of your business needs. It’s essential to take a complete and holistic evaluation so to best optimize the power of DAM. How do you know you’re ready for a DAM? Here are some questions you may consider:
- What is the size of your team?
- What type of digital assets do you mostly deal with? (i.e. jpegs, pngs, design files, hi-resolution photos, word and excel documents)
- How many assets do you have?
- Have smaller, more localized consumer solutions like Dropbox and Google Drive become insufficient for your team?
- Is there a system in place for you to name and file your assets?
Present: How do you measure, measure a DAM?
Now that you’ve got a DAM solution in place, how do you measure, measure a DAM? In inches, in miles? In cups of coffee?
The answer is in KPIs, or Key Performance Indicators. To evaluate the impact a DAM has on your organization’s workflow, KPIs are helpful in revealing the return of your media library.
Questioning doesn’t stop though even with your DAM up and running. What questions should you be asking yourself when establishing your KPIs?
- Is your DAM generating revenue? Using measures like lead generation, lead nurturing, and web engagement, you can track the how much DAM has contributed to increasing sales of your product.
- Is DAM boosting your productivity? Measures like system adoption, how assets are being used, and repurposed assets can reveal how much time and money saved as related to DAM.
- How many users in your organization are using DAM? How many are not?
- Are assets in your branded library being identified and approved at a higher rate?
- How many assets are reformatted using a function in DAM? Tasks reformatted include scaling, cropping, trimming photos and videos
- Is your DAM decreasing the amount of new assets being created or acquired?
Return on Investment (ROI)
Price is also a question you must necessarily consider. Admittedly, a DAM is accompanied by a financial toll that is a bit steeper. Measuring your ROI, or return on investment, before committing to a new product will help to approximate the potential annual savings from using DAM. Moreover, the versatility of DAM makes it flexible and scalable so that Flight will grow as you do too.
In making your value proposition, we’ve prepared a handy ROI calculator for which you can gauge the return you would get relative to your cost.
Comparatively, many DAM systems are quite expensive. Flight, however, offers most of the capabilities of these other systems at a manageable price point. Thus, the ROI component is much more attractive with Flight. The payback period with Flight is short.
Looking into the Future
Looking into the future, reviewing you KPIs quarterly, and every three years your ROI will ensure that your DAM stays optimizing your processes. ROI and KPIs bring to light what works and what doesn’t.
Doing away extraneous, redundant, and ultimately expensive trimmings will further simplify your team’s workflow and save time – the original objective of choosing a DAM anyhow.
But in the mean time, just sit back and enjoy how organized, how streamlined your branded library is with a DAM!
Forget about the past by making the future your present. The time is now to try a free trial of Flight.