A digital asset management (DAM) system promises to accelerate processes, making it easier to centralize and identify digital assets. It is a must-have for organizations today and is necessary to power their DAM systems to boost tech-based strategic approaches.
Rich digital assets exist in every organization today and continue to grow with digital transformation. In the challenging economic state, organizations focus on operational excellence, cost-cutting, and ROI (ROI) to boost and maintain profitability.
Digital Asset Management (DAM) is a rapidly evolving tool for digital asset management that provides enterprise-wide solutions for a streamlined workflow and collaboration. Many organizations consider DAM solutions as vital strategic to business process. This is because they deliver:
- Higher revenue-generation across multiple distribution and communication channels
- Reduced costs by repurposing rich media assets
- Significant operational efficiency with easy access to information
- Operational effectiveness through workflow, collaboration, and automated processes
There are three essential steps to power up Digital Asset Management (DAM), but before that, it is necessary to understand why companies need DAM first.
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Do Companies Need a DAM Today?
Brands have rapidly shifted to the point of interaction (POI), with marketing tactics like personalization, which has piqued markets and customers’ interests. The concept emerged when potential customers started connecting with the brand through sales, and social media -online or offline. But given the complexity of that task, companies needed a simpler way to connect.
Digital Asset Management system (DAM) takes responsibility for gathering all the assets and data to seamlessly deliver interactions focusing on consumers’ demands.
With this clarity, here is why DAM is necessary and what it delivers to today’s business.
Build Brand Prominence
In the constantly evolving competitive markets, companies want to achieve the top of consumers’ mind recall. And for that, they need to be ever-present in messaging and resonate with very demand across a vast range of potential touchpoints. That means building brand prominence is necessary to ensure a particular brand is on top of a customer’s mind.
This is where a DAM helps deliver the right marketing efforts at the right time and accurate solutions that customers express in their demands. DAM helps assimilate all marketing efforts, making a library of brand-driven assets easily accessible to marketers and promoting them to customers. DAM does more by assisting marketers to avoid publishing digital assets without any approvals, which may harm brand messaging or image.
Operational Efficiencies
Utilizing and keeping digital assets up to date helps marketers to stay relevant, expanding brand messages and marketing resources. If not regularly monitored and listed, assets may go missing, resulting in an increase in security risks. Marketers usually keep track of the assets through emails and online drives. Sometimes, these storage capabilities go wrong, and marketers lose essential data on assets.
Digital Asset Management (DAM) solutions help brands and marketers work smarter. The solutions offer operational efficiencies capabilities such as reducing the time of administrating campaigns, automating marketing processes, and faster processes to drive marketing growth. Companies using DAM systems report saving time and show a rapid increase in activity. DAMs deliver a return on time (ROT), which can be quantified in the cost of wasted hours.
Better ROI
Digital marketing asset management is one of the critical components of revenue-focused management of business processes today. Managing digital assets will help marketers achieve better cost efficiencies, which will positively impact revenues. It means better use of assets through multiple paid media campaigns with the mix right creatives may drive significant customer engagement with brands. It will also improve media expenditure, resulting in better RoI generation.
Unlocking the Step to Power DAM Systems
Here are the three simple steps brands can power their DAM.
Identify the Right Product for Organization
Cloud-based systems and solutions are increasing, and the latest DAM systems integrate the cloud for efficient operations. With custom products also available, brands can implement operational capabilities according to their digital assets and decide whether to opt for individual components for DAM or an enterprise solution, depending upon many factors. One key area is the organization’s current infrastructure and IT management capabilities. It also depends on the storage and usage needs of the DAM system and the network capacity. The cloud-based storage and security of digital assets are maturing. Understanding these factors, brands should identify the right DAM products or see if they can customize and extend the system based on the organization’s digital strategic goals.
Integrate DAM with Existing Internal Systems
The next step is integrating DAM with business operations, creative and production teams. DAM systems offer an organization more value when combined with existing systems instead of being standalone. For instance, integrating DAM with a CRM platform provides a way to repurpose digital assets to acquire metadata. This technique allows brands to control digital assets and access current and relevant data in DAM and approved versions of digital assets.
Another critical integration of DAM is with newly launched systems. For instance, integration with Adobe® Creative Suite® products facilitates users’ ability to easily create, edit, and save content directly into a DAM system. The integration also seamlessly performs review and approval marketing cycles to constantly engage customers throughout their buying journey.
Making Marketing Operations Future Ready
Keeping the marketing operations future-ready is one of the factors all about transforming the future state of marketing operations. The best way to generate higher RoI is to leverage the best marketing teams to convert DAM into a more advantageous system. Advancing marketing workflows and putting them into DAM means that brands now have data showing the potential of digital assets and how much faster marketing projects are getting completed. Converting the future state of marketing operations with DAM means the system is not merely software. Instead, it is making brands’ and marketers’ tasks easier.
A Core Tech-Strategic Investment
The Digital Asset Management system has taken center stage among brands and companies in recent years as a core tech-based strategic investment. DAM helps brands to connect customers, processes, and technology, thus, amplifying workplace productivity and increasing the value of digital media. This affects the brand image and the overall business. As technology continues to advance businesses and the digital space, brands need to keep up with the latest shifts occurring in the market. Brands need to be diligent in planning to integrate more digital assets with the existing ones that will help reap the rewards from the investments and result in a successful DAM implementation.
