Buying a Digital Asset Management (DAM) platform can be a challenging task, particularly if it’s your first rodeo. If you’re sorting through a short list of vendors but don’t know where to start, a Digital Asset Management Request For Proposal template (RFP) can help. A DAM RFP provides a comprehensive structured brief to vendors that organizes their responses to help you form direct comparisons.
If you’re at a point in your DAM journey where you want to start the review process, download our DAM RFP template. It’ll help you streamline your needs and provide you with background information that will help structure the right solution. The sections are universal and can be applied to any prospective DAM vendor.
Why companies use DAM RFPs
Most buyers don’t use RFPs, preferring instead to focus on business problems they need to solve and working with sellers to see if technology vendors can help.
Recently, Forbes, observed a trend towards automation and a consolidation of software to those solutions offering more capabilities. Along with a general reduction in resourcing in 2023, companies are zoned in on increasing profitability and reducing costs (i.e. doing more with less). That means any DAM software purchase must provide a significant Return on Investment (ROI).
A detailed DAM RFP can help buyers define very specific functional requirements and provide the vendor with information to predict future needs and plot long term solutions.
While filling out a multipage DAM RFP document isn’t anyone’s idea of fun, it will help you to draw out your current operational shortfalls and crystalize your solution. For example, a DAM RFP can help you identify:
- More efficient ways of working
- Areas of automation you never knew were possible
- Underperforming legacy software that can be decommissioned
- End benefits of a DAM you did not know were possible
- Budgets and timeframes so you can set realistic expectations
- The credibility of your vendor, their capabilities and how they do business
- A roadmap for current and long-term needs
- Side by side comparison of vendor deliverables
How to prepare a DAM RFP
Tell us about your organization
Understanding your business is key to crafting the right solution. Information such as the type of organization, your structure, brand hierarchy, whether you’ve used a DAM before or whether you’ve gone through a merger are all important factors. The more information, the better.
Define your goals and objectives
Clearly articulating your goals and objectives is the compass that guides the entire DAM RFP process. Are you looking to enhance efficiency, increase compliance, or streamline content creation and distribution? Identifying your overarching goals will assist us in customizing a solution that aligns seamlessly with your strategic vision. In addition to this, specifying measurable key performance indicators (KPIs) will help us to track the success and impact of the implemented DAM solution over time.
Tell us about your marketing challenges
Communicating your specific marketing challenges is vital for tailoring a DAM solution to your unique needs. Outline the pain points and bottlenecks you currently face in your marketing workflows. Is it the hunt for assets, failing brand compliance, the need for scale or optimizing collaboration? Providing insights into your challenges will enable us to propose a DAM system that directly solves each of your concerns.
Ask us questions
The more questions you ask, the better equipped you’ll be to make an informed decision. Here are a few to kick you off:
- Can you integrate with legacy tech?
Will your DAM replace an existing system? Understanding any migration requirements will ensure a smooth transition and optimal performance.
- What integrations can be accommodated in our tech stack?
Do you have any existing third party-apps such as Adobe, WordPress, Slack or Shopify you need to integrate? Ensuring you have the ability to keep what’s currently working for you ensures your digital asset management aligns with your broader technological ecosystem.
- Can you assist us with our content assessment?
Seek guidance on initiating a content assessment. Understanding the best practices for evaluating your existing content landscape is fundamental to implementing an effective DAM strategy. - Will you grow with us?
Find out about our ability to adapt and scale alongside your organization’s evolving needs. Understanding how our solution accommodates growth ensures a long-term partnership that can seamlessly align with your expanding requirements.
- What is your development roadmap?
Ask us about our 6 to 12 month development roadmap to get a an understanding of the future enhancements and features planned to support your DAM solution.
- What makes you different?
Find out what sets our DAM solution apart. Not all Digital Asset Management platforms are created equal. - Do you have any hidden costs?
We can tell you now, the answer is a firm “no”. Transparency is key to establishing a clear understanding of the overall investment and developing a long term relationship.
The DAM RFP response
Your procurement department may have a format they prefer, but if not, don’t forget to download our free DAM RFP template. Even if you’re not conducting a formal RFP, these checklists are a great way to flesh out use-cases and will help make sure your team is asking the right questions.
Make sure you are clear about how you want your responses delivered along with review milestones. When all submissions are in and the comparisons are done, the next step is to book a demo with those on your shortlist and meet the team.
Selecting the right DAM solution for your business takes a lot of a thoughtful examination from marketing and as well as other stakeholders. If you want more info about choosing the right vendor or product, please get in touch.
