Marketers today face a unique set of challenges across the entire content management lifecycle:
- Findability: Difficulty finding what they need, when they need it, and in the right format.
- Brand consistency: Difficulty maintaining brand consistency across content published by various groups.
- Campaign management: Trouble prioritizing and allocating resources when several campaigns are in motion, each needing their own versions of content for various audiences and touchpoints.
- Collaboration: From creation to review and approval to distribution, collaboration can be tedious, if not impossible, with multiple disjointed systems and a lack of clear workflows.
- User rights management: Struggle to enforce property rights and risk significant penalties when these aren’t clear.
- Scalability: Finally, the sheer volume of content needed to support personalization efforts, including the correct versions for different channels, elevates this situation from mere annoyance to full-blown crisis.
At Sitecore, we call this the Content Crisis, and we've developed solutions to help marketers solve it. By centralizing asset management, improving collaborative content production, and distributing this content effectively and efficiently, Sitecore can help your team own the entire content lifecycle.
But while all marketers crave efficiency and effectiveness, most also crave something else: proof. This might not be your thing, but if you're curious about the ROI of efficient and effective content management, keep reading.
The ROI of centralized asset management
Organizations need a solution to store and manage content and assets more effectively, so that time, energy, and resources are not wasted trying to locate the right version of the right asset. The following business benefits can be gained from a centralized asset management system:
- 66% reduction in content search time: Companies who implement a digital asset management (DAM) can improve asset findability and save up to two-thirds of the time previously spent searching (Source: Guide to measuring DAM ROI, 2019).
- 23% reduction in legal risk: By preventing the use of the wrong or unapproved assets, protecting assets from inadvertent disclosure or theft, and ensuring license compliance (Source: Netcentric, 2019).
- 47% increase in speed to create new assets: A DAM can help brands reduce the time lag from asset inception to delivery and speed up the creation of new assets by 47%, improving productivity and operational efficiency (Source: Netcentric, 2019).
- 28% decrease in asset re-creation costs: By eliminating duplicative efforts, reducing the number of assets created but never used, and improving asset reuse (Source: IDC, 2017).
- 23% faster time to market: For companies that have implemented an intelligent DAM solution (Source: MyAdbox, 2020).
- 24% increase in revenue: An intelligent DAM can improve the rate at which contacts are converted to opportunities, because better and more personalized content is being created and used, increasing the number of campaigns to market and accelerating time to revenue (Source: IDC, 2017).
The ROI of improved content production
Marketers are under pressure to deliver content and campaigns quickly, however many struggle with lengthy turnaround times and extended communications with creators and agencies. To combat this, brands need to eliminate the middleman by working with assets directly in a content marketing platform (CMP), rather than wasting valuable time and resources emailing back and forth. Sitecore’s Content Hub can streamline content strategizing, planning, and creation; elevate visibility and governance; enhance version control; and facilitate collaboration throughout the entire marketing workflow. This can help achieve the following business benefits:
- 34% increase in marketing productivity: Due to streamlined review and approval processes, easier collaboration, and better visibility (Source: IDC, 2017).
- Save 1,000s of hours of time: Due to streamlining content creation, improved visibility, and reducing the amount of workflow steps using a CMP (Source: Forrester, 2017).
- 80% reduction in brand asset creation costs: Streamlined processes and enhanced approval workflow functionality empowers organizations to save thousands of man-hours and reduce on-brand asset creation costs by up to 80% (Source: Brandworkz, 2018).
- Cut agency spend in half: Companies using a marketing resource management (MRM) solution typically achieve the same marketing results with one-half the agency spend (Source: Simple, 2017).
The ROI of robust content management
Content production is only one aspect of solving the content crisis. Publication and distribution are also critical — specifically, doing both at the scale, speed, and accuracy of digital.
With Sitecore’s robust content management capabilities, organizations can efficiently deliver content across channels by reusing components, layouts, and templates across multiple sites. Organizations are achieving the following business benefits:
- 80% reduction in time spent on content updates and publishing requests: Organizations generally suffer from long lead times, multiple handoffs, and forgotten requests, with content updates taking between 3 – 5 days. After Sitecore implementation, organizations benefited from instantaneous content updates and lower IT dependence, reducing the days spent on content updates to just one (Source: Sitecore and Forrester, 2016).
- 75% reduction in marketing overhead: Content updates can drain resources, consuming up to four team members. After Sitecore implementation, organizations reduced the resource strain to only one person for content updates (Source: Sitecore and Forrester, 2016).
- 20%-50% reduction in IT costs: A robust content management system can lower IT dependence and complexity. Sitecore customer, Canadian Nurses Association (CNA), previously ran three different websites on three different platforms: the main website, the member portal, and a site for CNA’s Canadian Nurse magazine. Running these on disparate platforms increased IT complexity and costs. CNA aimed to streamline its infrastructure and processes while improving the user experience. They were able to reduce their related IT costs by 50%. Sitecore customer, BWT Group, has reduced costs with fewer modules, less complexity, and less replication of product catalogs and product details.
- 30%-40% reduction in content creation costs: Through the reuse of components, layouts, and templates across a variety of sites, organizations can save on content creation costs. Sitecore customer, Co-operators, an insurance firm in Canada, was able to reduce their content creation costs by 40% by reusing content across sites and leveraging custom controls, integrated backend systems, workflows, and page editors.
- Improved user experience: Publishing accurate and timely content quickly and effectively and reducing the amount of duplicated content can improve user experience as relevant information is found easily and consumed effectively. Sitecore customer, Ministry of Manpower redesigned their content to help users get answers faster, decreasing average time on site by 21% and improving customer ratings by 20%.
- Faster campaign release cycles: Sitecore’s robust content management system can significantly increase campaign release cycles, with editing and publishing content efficiencies. Sitecore customer, Tohoku, was able to achieve a 400% increase in campaign cycle speed.
- 20% reduction in cost to serve: Improving the customer experience through digital channels can reduce customer service costs. Sitecore customer, Puget Sound Energy, was handling 4 million calls annually, which was expensive and time consuming for employees. They wanted to reduce employee workload, provide digitally enabled services to customers, and improve customer experience. By implementing an easier, more seamless customer experience through their digital channels, they reduced call volumes by 20%.
- 10% increase in self-service: Effective and timely content can increase self-service, as customers can find the information quickly and more easily. A government agency in Singapore redesigned their content and updated their jargon-heavy site to transform the user experience. It now acts as a self-service resource, enabling the public to solve their needs online up to 70% faster. Sitecore customer, Bupa experienced a 10% reduction in call center volume.
- Increased engagement: Better and more relevant content can increase engagement. Eurobank achieved 100% increase in user engagement, and a 20% decrease in bounce rate. Australian Catholic University increased users by 6%, sessions by 12%, and page views by 8%.
- 30% increase in conversions: Sitecore enables marketers and content editors to personalize content based on campaigns, personas, interactions, and behavior natively, without complex integrations. Companies who invest in personalisation see an uplift in conversion by 10%–30% and as much as 5% improvement in customer acquisition (McKinsey 2019).
Together, Sitecore Content Hub and Sitecore Experience Platform provide a unified and collaborative user experience for all content stakeholders. When your teams can effectively and intelligently create, distribute, and understand the impact of content, they can scale personalized experiences with ease. Contact us if you would like to learn more about how we can help you achieve results like those above.
Leveraging her digital agency experience in delivering CX strategies and managing platform builds for blue chip clients, Rebecca Mangan (Strategic Business Value Consultant, APJ) provides value-based inspiration, justification, and validation for Sitecore solutions. Follow her on LinkedIn.