Digital asset management (DAM) is an essential part of the marketing technology stack. But how do you justify the expense? Read on to cogently present the value of DAM to your stakeholders.
What is DAM
Digital asset management (DAM) is a solution for storing and managing rich media assets such as artwork, images, videos, and 3D and other digital files in a single, digital hub.
With a DAM, your teams can search for and find the assets they need, when they need them, and be confident they are working with the most up-to-date versions. These files, whether they be work-in-progress or finished assets, can be stored and tracked in your own digital library.
The Value of a Digital Asset
A digital asset is a digital file with metadata attached to it. These files are typically in the form of images, pictures, videos, artwork, etc. Metadata is information about the asset that is specific to your organization and how your teams identify and search for assets.
A DAM makes assets searchable by keywords, color, filters, relationships to other assets, synonyms, and availability based on rights and permissions. With a DAM, you increase the return on investment (ROI) of your digital assets by making them accessible, searchable, and available to repurpose. You are extending the life, usage potential, and value of your assets.
Business Benefits of DAM
Employing a DAM adds to your bottom line. Here are just some of the possibilities:
Increase Revenue
Enable the accelerated delivery of marketing campaigns, increase the number of campaigns marketers can deliver in a given time period, and expedite new product launches globally.
Reduce Costs
Eliminate the need for new images and designs with every project. Instead, you can repurpose and recreate the digital assets you already have.
Save Time
Increase productivity by enabling employees to quickly find the content they need for their current task.
Improve Responsiveness
Enhance marketing agility and efficiently respond to customer needs and market demands.
Maintain Compliance
Store your assets in a secure system, manage digital rights and user permissions, and distribute only approved assets.
Simplify Asset Process
Simplify and track complex digital asset processes by reviewing, annotating, and approving projects.
Breakdown Silos
Enhance cross-functional collaboration by using a single solution rather than disparate solutions.
Enforce Common Information Infrastructure
Store digital assets using information architecture allowing for shared and enforced organizational access and use.
Improve Brand Consistency
Ensure digital assets that are used for campaigns are approved and on-brand.
Who Uses DAM?
The benefits of using a DAM can be enjoyed by numerous departments, including:
Creative
Save time by accessing assets through integrations into creative tools.
Marketing
Access and modify current campaigns or create new ones.
Packaging
Modify or create existing or new packaging assets.
Sales
Quickly access approved assets to share with customers and prospects.
Brand
Ensure asset consistency across physical and digital channels.
Legal
Minimize misuse of assets, including expired assets or assets with specific permissions rights.
In-house & External
Provide instant, secure access to assets from a single source.
It Makes DAM Good Sense
The most successful businesses maximize the competitive opportunities available to them. Your company’s digital assets are worth far more than their original cost. How you access, maintain, protect, utilize, and enhance these assets is within your control. Create your compelling argument for implementing a DAM by downloading the e-book, The ROI of DAM: How to Explain the Value of Digital Asset Management.
