THE CHALLENGE - A leading digital asset management vendor sought for assistance in identifying the appropriate ways to approach customers in an economic downturn and justify the purchase of their software solution. The vendor traditionally catered to the media and entertainment market.THE PROCESS – Research showed that end-users were price sensitive during the economic downturn, and media and entertainment companies had become even more conservative when it came to spending on technology during the downturn. Next step was to explore other markets and create a return on investment (ROI) model to justify technology spending for digital asset management among three key markets - Media and Entertainment, Healthcare, and Fast Moving Consumer Goods (FMCG).
THE SOLUTION - After testing these markets with technology stakeholders in companies that represented each one of the markets identified, the Digital team was able to show how the ROI justified the purchase decision for digital asset management solutions, as opposed to legacy methods, showing positive returns on time to market, cost of lost or misplaced work, and payback periods based on discounted cash flows. Armed with this data, the client was able to not only more aggressively market the product in the media and entertainment space by showing a positive net present value (NPV) on the investment, but also start targeting other market sectors. By diversifying their client base, they were able to survive the downturn and move toward profitability.
