The benefits of digital asset management (DAM) are numerous and valuable to a long list of different industries. Here we discuss how OpenAsset customers are using their DAM system to improve the productivity and profitability of their businesses.
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Digital asset management is important because it enables staff to utilize a single source of truth to sort, store, share and secure the digital assets they need to conduct important business operations like marketing, business development and branding.
In other words, digital asset management is how organizations keep and utilize the digital assets they need to grow their brand, empower their sales teams, and disseminate a clear and purposeful message to their audience.
A successful digital asset management system offers much more than a simple repository for digital files, it offers enhanced visibility, and provides a single source of truth for creatives, marketers, brand managers, CMOs, and other stakeholders to utilize in pursuit of your business goals.
There are many ways to improve the consistency of your brand, but all of them require a substantial amount of time and effort on behalf of your marketing team. Fortunately, there are tools available that make the process easier. By implementing a modern DAM system, like OpenAsset, you enable your team with a centralized system to organize and access their media assets.
The perpetual need for marketing content means your marketing and branding teams are constantly churning out new content like blog posts, infographics, logos and branding material. But a large media library makes it easier for team members to misplace or misuse a valuable digital asset.
A digital asset management system alleviates that problem by providing a centralized location where users can find, store and share the digital assets they need. That type of functionality not only improves efficiency, but also makes it easier for marketing teams to adhere to a consistent brand strategy and make content as accessible as possible.
File sharing via is no longer a practical means of transferring a large volume of digital assets. Workplace chat software like Slack is a great way to communicate internally with colleagues, but it does not provide the kind of interagency collaboration facilitated by a digital asset management system.
A DAM system enables users to share assets with internal and external partners without additional software. This improves collaboration, and reduces time-to-market for important campaigns. If you&#;re looking to improve internal and external collaboration, be sure to look for a DAM system that offers support for multiple asset formats.
Video files are typically large and come in several formats which makes it difficult to launch, manage and support video-centric marketing campaigns. Fortunately, an enterprise DAM with video capabilities enables you to automate the production of video variations at scale. That means your team can serve the right version of your video &#; at the right time &#; to the right person &#; no matter their screen, bandwidth or platform.
From international clothing brands to architecture firms and construction companies, if you have a logo, your business is likely to encounter an issue with regulatory compliance. In addition to intrinsic issues with brand consistency, marketing and communications teams need also track the use of licensed photos, images, or other assets.
What&#;s more, license rights and regulations often vary from region to region. Fortunately, a DAM system enables your team to stay in full control of compliance by enabling your team to:
According to a report compiled by Oracle, companies are beginning to improve their customer experience through digital transformation and the development of more targeted strategies, but they are not performing as well as they think they are.
Unfortunately, businesses often fail to successfully execute due to fears about implementation, inability to align with existing systems, and high costs. Fortunately, DAM technology has evolved to provide processes and automation to directly address these fears.
By implementing a modern DAM system, you enable your team with the capabilities they need to deliver a consistent brand message, and support omnichannel customer experiences at scale without extra effort.
The best way to support your sales efforts is to enable your sales organization to adapt content and sales material to the constraints of their local market. One way to do this is to improve the agility of local teams by arming them with the right assets to achieve their goals.
An enterprise DAM with distributed marketing capabilities can provide your local sales and marketing teams, affiliates, distributors and partners with customizable campaign kits and media collections that span that whole range of media. With template-based customization, you can enable easy and timely local production, ensure brand consistency and guarantee that legal compliance is never an issue.
Sales and marketing need to collaborate on mission critical content, and distribute high-converting assets like datasheets and customer success stories. The right DAM system enables marketing and sales to communicate and transfer valuable digital assets with speed, ease and efficiency.
Armed with the power of self-service, your sales, marketing and communications team can collaborate more effectively; locate the assets they need, and capitalize on opportunities without unnecessary downtime.
As your business grows, your content and digital asset library will grow exponentially. A digital asset management solution can streamline this process and serve as an incubator for all branded content, enabling teams to ideate, create, share, and manage assets from inception to publication.
Modern DAM systems are a wash with innovation and functionality, but they can&#;t do everything. Fortunately, DAM systems like OpenAsset are packed with integrations that enable your team to utilize their favorite apps, tools and software via a seamless workflow and user interface.
In fact, the only way to truly integrate and build a martech stack is to create a strong data foundation through DAM focused on the people, the process, and the technology that affects your content.
Every department needs to generate reports to inform stakeholders and answer specific questions. It can be a frustrating process, especially if you rely on uncustomizable, canned reports from external sources.
A digital asset management system enables you to create customizable usage reports for governance and track your assets wherever they&#;re activated, unlocking previously inaccessible data views.
In other words, a DAM makes it easier for your team to measure and report on the usage and performance of digital assets across different channels, and/or consolidate performance reports across product category, geography, and audience segment.
A key aspect of digital asset management software is the visibility it provides to your team. By providing a birds-eye-view of your digital asset library, DAM software enables your team to extend the value of media assets by identifying high-performing content to reuse and repurpose.
DAM software, thereby, makes it easier for your team to adapt existing digital assets for other creative purposes. With maximum accessibility over past and current media, your team can breathe new life into concluded projects while saving time, money, and resources by retooling existing assets.
Ultimately, much of the value that a DAM provides is found in the number of redundant tools, tasks and capabilities that it consolidates. The right DAM system also automates tedious workflows and repetitive tasks so your team can focus on what matters, building your brand and growing your business. Follow the link to learn more about workflow automation and the benefits of AI in digital asset management
The post-pandemic shift towards more dynamic workflows that empower both teamwork and individual excellence are more important than ever. While working remotely, many professionals have had to adapt the ways that they work to be able to achieve team success with little or no in-person contact.
Fortunately, the future of digital asset management is bright as more and more decision-makers find value in DAM, and see the many benefits it provides to their hybrid workforce.
We hope this guide on the benefits of digital asset management was helpful. As you learn about digital asset management, remember that there are a lot of different DAM solutions out there, but only one that is perfect for your team. Contact OpenAsset today to schedule a demo of the only DAM solution designed specifically for firms in the built world.
&#;For every minute spent organizing, an hour is earned.&#; &#; Anonymous.
Every organization that deals with a large number of images and video assets is bound to struggle with asset management. The struggle hinders productivity and growth as the volume of assets and the stakeholders who use them also continue to increase.
It is here that a Digital Asset Management (DAM) solution can lend a helping hand. It can organize all assets efficiently and logically in a single destination, making it easier for everyone to access and retrieve them instantly. As a result, there would be no instances of probably-lost files, countless duplicate files, or each person in the company creating a copy of the asset for themselves.
With DAM, organizational collaboration and productivity will flourish. Sales and marketing teams can rely on a single source of branded assets. Designers do not have to constantly resize and export files according to business needs. Developers are not required to extend their bandwidth to get the images web or mobile app-friendly. Developers and IT teams can use APIs to integrate systems with a DAM to streamline workflows and access.
Rest assured, a Digital Asset Management solution can improve productivity for your organization.
Here are 10 benefits that are live proofs of how a DAM helps:
In case you are looking for a DAM with all these benefits, you should check out our videos to know how ImageKit encapsulates these benefits.
Now, Let&#;s take a closer look at each of these benefits.
Locating the correct file and its version quickly is one of the common challenges that employees of large organizations regularly face.
Ask a graphic designer how hard it is to find the correct version of an image for a campaign when at least ten variations of the same picture exist. If the designers have difficulty locating it, we can only imagine the time and energy marketers and sales teams will have to expend to find the file.
It is here that DAM can make a difference. DAM acts as a unified storage facility for a vast library of digital assets organized intelligently. It ensures quick and easy access to assets for all employees, irrespective of their location.
Be it working at home or working remotely; everybody can access the asset they want without difficulty.
Using descriptions, tags, or keywords aids in the quick location of the assets. Further, meta-tagging and categorization ensure that users can quickly locate files using advanced search queries and filters. DAM permits you to use existing terms or values or a free range of keywords. You can save your search criteria or search within a document.
Most DAM solutions provide a preview of assets on the fly, helping you decide which asset is the right one for you. Lastly, redundant assets can be routinely archived or deleted, thus keeping the system clutter-free.
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However, while a single storage destination is convenient, is managing all those assets easy? With DAM, it is.
Ask a project manager in a media agency handling multiple teams working on different client projects about how they manage and monitor asset-related operations. The answer is most likely to be - with the help of DAM.
Teams can create dedicated project folders for individual projects to keep all assets well-organized and easy to locate. With DAM, project stakeholders can classify and organize digital assets based on purpose, format, size, or other suitable parameters.
In addition, DAM allows you to structure your files within folders using tags auto-suggested by AI algorithms. Further, custom fields and tags bespoke to each project&#;s needs can make asset discovery easier.
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Dedicated folders help in organizing assets based on various parameters.With the help of Various file attributes, DAMs help you create advanced filters to enhance your search. Besides the basic search that uses a single field of query, one can use custom metadata and embedded fields to find the right asset that one is looking for. For example, searching within specific folders or files for assets created or modified on particular dates is all part of the modern DAM.
DAM users are well-equipped with features and tools to quickly create, edit, categorize, approve, reject, move, delete, download, publish, unpublish, share, and render assets.
However, multiple users have different roles and responsibilities working on a campaign. So how can they collaborate seamlessly to meet the end goal?
Check with any marketer how hard it is to coordinate between teams and get all the approvals for an asset to go live on a campaign unless they use DAM.
A single creative asset passes from one desk to another as writers, graphic designers, brand experts, marketers, and others work to create the final content. In addition, operating with a global team dispersed across cities and time zones can be challenging unless there are tools that can facilitate anytime, anywhere interaction and access with real-time updates.
DAM streamlines collaboration between internal and external stakeholders. It replaces exchanges and messaging tools by providing a single platform where users can collaborate through real-time comments. It serves as the single source of truth, assuring there are no gaps between creation, management, and delivery.
DAM makes it easy for stakeholders to collaborate on the same asset without emails or instant messaging.Even when multiple variants of an asset exist, a robust DAM will allow you to preserve, retrieve, and restore every version stored in your media library. Thus, even if a file gets accidentally misplaced or deleted, it can be easily retrieved.
DAM brings transparency to asset management, which accelerates work across the board. However, no collaboration can be seamless without a linear workflow that defines who is responsible for what.
Designers despise engaging in activities, such as media transcoding or manual tagging of content &#; tasks that AI and automation can easily cover.
DAM helps automate workflows that otherwise require manual and repetitive manual intervention. It can consolidate disparate processes by creating rule-driven workflows. Users can automate these workflows using versioning, metadata extraction, and AI tagging features.
DAM automates asset creation and distribution workflowsStandard brand templates and customized approval processes simplify the creative processes, lowering the IT burden. Linear workflows can be created to plan, design, and distribute assets.
Also, automated workflows make it easy to standardize content and enforce brand consistency.
The embarrassment of using an incorrect brand element in a public document is unpardonable.
Organizations can centralize their brand assets and guidelines and provide controlled access to all relevant stakeholders to ensure they use the latest and approved brand elements in their campaigns, documents, or communications.
Brand assets such as approved videos, images, or texts can be categorized into different libraries for the various departments &#; for instance, ready-to-use brand assets for social media use or client presentations.
DAM is critical for asset creation and management and ensuring that the right asset is used for the right purpose. In other words, to uphold brand awareness and consistency. Here, access control becomes an essential feature.
Unauthorized edits to a brand asset can throw a marketing campaign off track. Simultaneously, it is necessary for employees to access and retrieve assets quickly when needed.
DAM makes it possible to provide different types of access depending on the user and the usage. For example, brand assets can be openly distributed with read-only access, giving permission only to administrators to make edits.
Role-based access in a Digital Asset Management softwareMeeting statutory requirements can be challenging when licensing terms and conditions or regulations differ as per geography. DAM helps in minimizing compliance risk.
Unauthorized use of intellectual property, including images or video, could lead to legal trouble.
Designers or marketers may not know the legal implications of using a licensed property in the website, app, or marketing campaigns. DAM prevents such mishaps from happening by ensuring a robust content validation process that includes the participation of the legal or compliance team.
Just as we need to ensure we align with the laws of the land from where we operate, we also need to be well integrated with other enterprise tools and applications.
DAM can empower users to work productivity by integrating seamlessly with other tools in their marketing tech stack.
When integrated with other components of the MarTech stack in an organization, such as the Content Management System, Customer Relationship Management, data platforms, or Product Information Management, DAM can deliver agility and efficiency.
DAM improves productivity by integrating with third-party applicationsIn addition, a well-integrated MarTech can build a collaborative workspace facilitating users to leverage different platforms without any hindrances.
DAM plays a critical role in streamlining the supply chain of digital assets. Measuring the efficiency and usage of the available content is the next step to optimization.
Without a DAM, an organization could buy and store photos that aren&#;t truly useful to the organization. These cost money, time, and processing power.
Photo licensing rights are expensive and form a considerable part of the budget. In addition, storage and running costs go up for every digital asset added to DAM. As a result, marketing departments must grasp the number of digital assets they own, use and manage to understand if the amount they spend on them is worth its value.
DAM can provide the metrics on the bandwidth usage on a regular basis. It can also help ensure that the business is not over-consuming resources through duplicated requests for transformation.
A new product launch could go awry if the right multimedia assets are not ready for its announcement.
With content becoming a critical element in any business, the ability to buy or create, maintain and distribute relevant, appropriate, and high-quality images and videos on a timely basis can make a difference to the success of a campaign. Today DAM has become essential to businesses for delivering superior customer engagement that can result in customer retention.
However, it would be wrong to believe that DAM can deliver value only to marketers and sales teams. Even internal usage of digital assets is high, for example, in training or product designing.
With a modern Digital Asset Management solution, organizations can manage, optimize, and deliver images and videos in the right format in the right size to the right audience. As a result, it reduces internal friction and maximizes productivity across the organization.
The need for digital assets will increase exponentially as the web continues to evolve. Each asset has a lifecycle consisting of five major stages - creation, management, distribution, retrieval, and archival. Each stage involves several functions: designing, tagging, reviewing, annotating, approving, sharing, delivering, searching, reusing, archiving, or deleting. As a result, the complexity of managing such a large number of digital assets will increase phenomenally.
Thus, every organization must consider investing in a Digital Asset Management solution irrespective of the size of their business.
If you are looking for a DAM solution that is easy to get started with and does not burn a hole in your budget, check out Imagekit.
ImageKit offers a comprehensive digital asset management solution with real-time image and video optimizations and transformations and a simplified development workflow to improve your web presence with a better user experience and supports the expanding content usage that comes with business growth.
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