(Newswire.net — December 5, 2019) — Over the past 10 years marketing has become an increasingly core function of every business. This means that there are more marketers working to quench our insatiable desire for new content – producing more creative for multiple mediums, distributed across a growing number of channels. Because of this there has been an explosion in the number of digital assets created every day which need to be stored and managed. Legacy systems for storing assets are no longer sufficient and Digital Asset Management has surpassed them as an essential technology, allowing marketers to achieve the level of sophistication required today.
Although digital asset management isn’t a new concept, new functionality has meant that it is now indispensable for marketing teams who wish to streamline processes, protect their brand and ensure marketing compliance. Because of this, many enterprise businesses who are slow to adapt are making the change and by 2024 digital asset management will be a core technology used by any marketing department.
According to Tessa Court, CEO at Digital Asset Management company IntelligenceBank, “Digital Asset Management has gone from nice to have to must have for most large organizations. By centralizing a company’s digital assets within a single DAM system, companies can streamline many processes across multiple departments to increase collaboration and efficiencies. We predict strong growth for the DAM software industry over the next years.”
Prior to digital asset management, companies were using share drives and providers such as Dropbox and WeTransfer to store and share assets which presented several significant problems. The first is that assets are only searchable by name or file type making them difficult to find once lost on the share drive, or, they get stored remotely on personal desktops or Dropbox folders. Assets end up everywhere at a significant cost to the business. Digital asset management provides a way to manage these files by storing them with important information such as keywords, metadata, usage rights and permissions, which are all searchable through filters.
As the role of personalization in marketing grows, having this information stored against assets is vital. A well-managed DAM ensures that the right assets can be associated with the relevant person or group, empowering marketers to respond quickly, showing the right content at the right time. This type of marketing can’t happen without access to metadata and tagging, which wasn’t possible prior to digital asset management.
As online platforms, DAMs can be accessed from anywhere in the world and opened up to all types of user groups including agencies, sponsors and third parties through the use of permissions. All users can instantly search for and easily find the approved and correct version of the assets they need, reducing production times, the cost of developing and buying creative over and over again and ensuring quality control over public facing content.
Businesses are becoming more geographically dispersed with teams across the world or in remote locations and because of this will see the need to adopt digital asset management. The ease of access along with the fact that content stored within the DAM is the single source of truth is helping bring local area marketing back into line with the rest of the business. All users can access the correct imagery, video and brand elements, without pulling assets from the internet or using outdated versions. Approvals also give the core marketing team greater control as they have the ability to vet all assets uploaded to the system, ensuring quality standards are met.
These benefits of digital asset management can be extended across other marketing software through integrations. For example, by integrating your DAM with your CMS, the marketing team or local users can only update content on the website, using pre-approved assets from within the DAM. Creative templates also work hand in hand with digital asset management, ensuring that creative content can be generated on demand by any user, while staying on brand and complying to marketing requirements.
By providing a single place to store digital files then making them easily accessible with multiple options for distribution, digital asset management systems have become a core software for marketing teams. They have made it easy to share and access content and ensure consistency of marketing, no matter where in the world users are located or their job function. As companies move to streamline their processes, consolidate assets and shift to more advanced marketing strategies the digital asset management market will continue its steep upwards growth.