In this day and age, where people rely heavily on the internet and technology, successful business people are aware that digitalization is paramount to their company’s success. By embracing digital transformation, businesses can understand their customers better, see new revenue opportunities, and improve process efficiency.
Take digital asset management as an example. Today, companies utilize digital asset management to efficiently store, access, organize, collaborate, and distribute digital assets. Based on a market overview, it’s projected that the digital asset management market will reach USD$5,287 million by 2023. Indeed, digital asset management software, or DAM software, is in high demand as more businesses embrace digitalization and deal with digital assets. Regardless of your company’s amount of digital assets, DAM software can be a valuable tool to help you achieve your business objectives.
Read the critical points below to dig deeper into why DAM software is essential to your company’s daily operations in 2022.
#1. Boost Team Productivity
There are many ways that DAM software can help boost a company’s productivity. Suppose a company decides to launch several monthly marketing campaigns through six different channels. In that case, team members may have to manually search for an image, logo, or visual asset every time they need to come up with new marketing material. Fortunately, with the help of DAM software, all departments can locate digital assets more efficiently. As a result, it saves the staff time and allows team members to focus on more urgent tasks.
Moreover, DAM software can help shorten the review and editing process by allowing companies to have one place to store work-related files. Using DAM software, editors and team members can hop in at any time to revise a task or add their feedback. As a result, team members can finish their tasks quicker, as opposed to spending hours each week creating and editing documents.
In addition to streamlining the content creation process, DAM software can help businesses prevent work disruption by allowing the upper management to check in on their team at any time. Thus, instead of waiting for the green light or stopping in the middle of a particular task to wait for further instructions, team members can continue working on tasks while simultaneously receiving direction and suggestions from the upper management.
#2. Maintain Brand Consistency
When building and maintaining brand consistency, interacting with the target audience through a consistent voice is an excellent way to familiarize them with your brand. Customers who recognize a particular brand are more likely to purchase products or services from that company. The good thing is that companies can improve brand consistency in many ways. Notably, they can develop brand guidelines to set clear rules and standards for content marketing, map out their branding efforts with a marketing calendar, and use DAM software to organize their branding and marketing assets.
With DAM software, all departments can collaborate effectively and easily locate the marketing collateral they need. As a result, they can deliver a consistent brand voice and support omnichannel customer experience at a large scale without spending extra time and effort.
#3. Ensure Digital Asset Security
With the digitalization of many processes today, companies are facing new challenges, such as data security. Consequently, protecting digital assets has become one of their primary concerns. If a computer loses power suddenly or crashes as a team member is saving a file, file corruption will likely happen. Besides computer crashes, file corruption can also occur due to malware, hackers, and viruses.
Apart from company documents, other digital assets are valuable to companies today. Take photos and videos as examples. If a company loses the photos and videos from a one-time event of theirs, the only solution would be to buy a licensing fee for similar photos and videos for marketing material, which would be a waste of money. Fortunately, having DAM software creates a safe storage space in which team members can locate and manage digital assets. It helps remove the risk of losing those digital assets, and it can act as backup in case of file corruption. Moreover, it utilizes permission for access levels that businesses can establish to provide a more secure environment and ensure digital assets are safe.
#4. Repurpose Best-Performing Content
As companies create marketing content, they amass an extensive library of digital assets that continue to have significance even after being used. Thus, they can repurpose their best-performing content instead of discarding these, so they can reduce waste, save time, and maximize content ROI. An example of this content repurposing would be when a company uses a photo in a blog post; instead of discarding the photo afterward, the company can reuse it for social media posts or marketing materials.
Accordingly, with the help of DAM software, taking advantage of existing digital assets has become more efficient. Since a company can have single secured storage for all digital assets with DAM software, they can easily locate digital assets based on content metadata and predefined tags. Consequently, it becomes easier for them to determine which content pieces are successful and working well and which ones can be pulled out for good. They can better determine which content materials are suitable for reuse.
#5. Improve Customer Experience Strategy
In today’s competitive market, excellent customer experience is crucial to the success of a business. It refers to how customers experience a particular brand, from pre-purchase to post-purchase. If they don’t feel satisfied with a brand’s service or product, customers today have multiple other options to meet their needs. If you want to ensure your customers get a better experience with your company, crafting a customer experience strategy using DAM software is essential.
While customer experience refers to how prospects or clients perceive a particular brand, customer experience strategy comprises a company's plans to ensure a better customer experience. And due to the increasing demand for digitalization, DAM software’s functions play a significant role in building customer experience. Since DAM software holds product-related digital assets, crafting a strategy to deliver an excellent customer experience would be incomplete without it.
All in all, digital asset management is an essential part of your day-to-day operations, primarily if your business focuses on campaign management, creative production, or digital marketing. It impacts your company by saving you time and money, streamlining processes, boosting efficiency, and enhancing customer experience. Since staying up-to-date with current technological advancements can benefit your business, using DAM software is worth considering, as it helps simplify the process of creating, managing, and sharing relevant files.