Digital Asset Management (DAM) has proven to be an essential resource for marketers, designers, brand managers and agency owners. Effective management of a brand’s arsenal of digital assets means companies can finally keep up with the pace of the internet and quickly spread consistent messages across all digital channels
As the marketing and branding landscapes have changed, so has the DAM industry. Companies no longer need to rely on expensive, clunky DAM systems – new DAM offers a simple and easy way to store, manage and share a wide variety of assets. This means brands can spend less on DAM and get more return on investment than ever before.
The following 11 stats will give you an idea of just how fast Digital Asset Management is growing and how much money you can save by implementing a DAM solution.
1. Over 5 years, Digital Asset Management can save a company nearly $189,000.
2. For every dollar invested in DAM, the return is between $8 and $14!
3. Business with well-managed, consistent brands are worth up to 20% more than those that aren’t.
4. About $10,000 a year is wasted on mismanaging digital assets.
5. The average cost of replacing a single digital asset is $1,000.
6. It only takes about 3 days to implement a DAM system.
7. Without a Digital Asset Management system, companies spend over $44,000 managing assets.
8. Employees without DAM spend 5x longer looking for assets.
9. Missing metadata costs companies an average $15,000 a year.
10. DAM is growing — the industry is expected to reach $9.01 billion by 2020.
11. A business with just 30 employees can save $6,000 a year with DAM.
Morgan Quinn is a recovering lifestyle blogger and the Digital Content Manager for Brandfolder, a simple and easy tool for managing digital brand assets. She has created content for brands like Mint.com, Quicken, Ugg Australia, and Martha Stewart. She threw in the towel on Twitter, so follow her on LinkedIn instead.