Digital Asset Management - all you need to know
Ever heard the expression DAM and wondered what it is? DAM is short for Digital Asset Management, a tool with essential capabilities necessary to properly manage company assets. With the ever-evolving marketing trends, keeping up with your marketing and brand efforts can quickly be impossible if you don’t have the proper tools in place. If there is one tool you should seriously consider, it is Digital Asset Management.
A Digital Asset Management system is not only indispensable for the marketing department, it also provides beneficial functions that streamlines how your entire company work – increasing efficiency and reducing hidden costs.
On this page, we have put together what we believe is important to know about Digital Asset Management, the advantages of asset control and what is means for your brand and company when you don’t have a proper system in place.
What is Digital Asset Management and why do you need it?
What are digital assets?
Any file ever created to serve a purpose for a company should be considered a digital asset; tenders, contracts, presentations, images, videos, sounds, drawings++. A quick analysis of your company assets will probably tell you that the amount of assets your company has is massive. Gartner predicted that by 2020, 90% of consumer brands would have bottlenecks in their handling of digital content, how does this compare with your digital asset management?
The truth is that digital assets consumes a lot of unnecessary time and resources if not managed properly, and research also shows that lack of control leads to inconsistent branding. With a digital asset management system by your side, control is restored and the ROI is easy to justify.
What is Digital Asset Management?
Streamlining company efficiency, gaining control of intellectual property, and securing one source of truth does not happen by chance. It requires proper structure, and it requires a system. This is where Digital Asset Management comes in handy.
Digital Asset Management is a system created for collecting, categorizing, and sharing all assets from one single location. Any filetype or format is safely stored in one central place, making any file easy to locate, distribute and use across any department or by any stakeholder.
A proper Digital Asset Management system enables easy asset maintenance and seamless workflows. With a proper DAM system in place, keeping your digital assets valid and up to date is easy. And to top it all off, automated workflows ensures company efficiency and reduces costs.
Why do you need Digital Asset Management?
The average employee looks for a file 83 times a week and fails to find it 35% of the time. A simple calculation will quickly tell you that there is a huge potential to save money if you invest in digital asset management.
It is not uncommon that within a company, each department or even each employee has their own way of storing digital assets; in personal folders, desktops or even apps such as Dropbox or Adobe Cloud. This makes it impossible for anyone in the company to know how or where to locate files when they need them. And what happens the day one person leaves the company? What happens with the assets in his or her possession?
Avoid hidden costs and control your brand output
Behind the search and failure to locate assets, are hidden costs and time thieves. In addition, you can add the costs of re-creating lost assets. These are unnecessary expenses that are difficult to account for, but luckily easy to eliminate with a proper digital asset management system.
Also, lack of proper asset management can easily damage your brand identity, damages that may be irreversible. When employees cannot find needed assets and the marketing department do not have the resources to deliver as requested, employees often get creative on their own. Or they use some old assets they had stored on their desktop. You can easily avoid this by centralizing your marketing collaterals and secure distribution, leaving you in total control of your brand output.
The reasons why we believe digital asset management is crucial for company operations and marketing efficiency are many – The questions you need to ask yourself are how much time and money do you spend on tasks that can easily be automated? And do you have the resources to keep it up while working on your long-term brand and marketing strategies?
Digital Asset Management streamlines marketing efficiency and cut pointless costs
Strengthen marketing efficiency with digital asset management
It’s all about digitalizing your workday. Although a digital asset management system is created to serve an entire company, marketers have extraordinary needs when it comes to structure and proper sharing of files. Don’t ignore your needs and assume you have control, do an audit and evaluate how digitally transformed you really are.
Marketers are often in limbo between supporting colleagues with different ad-hoc tasks and working on the long-term value-added initiatives. It is a real challenge to get it all done properly and the consequence of failing is often brand inconsistency. Both is equally important because you want your colleagues to be happy and believe in what you deliver, and you also need to initiate planned activities to grow your brand and reach your goals. With a digital asset management system, you get the balance you need. Set your company up for self-service and automate workflows.
When you spend your valuable time right, you’ll be an efficient marketer in no time.
Reduce costs with digital asset management
It’s all connected. Inefficiency leads to increased costs. Managing digital assets is a time-thief without a system in place. All the time you must spend supporting the company with their needs, takes focus away from the long-term activities. In addition, your colleagues are also spending unnecessary time asking and waiting for your deliveries. Perhaps you also need to include a creative agency? Manpower and hours easily add up when you’re set-up for manual support.
Another important issue is the lost assets that are never found. The cost of having to re-create assets is a total waste, but research shows that 51% of marketers waste money producing or re-creating assets that go unused because no one knows they exits.
A digital asset management system removes these unnecessary factors and streamlines company operations in a heartbeat.
Digital Asset Management protect your intellectual property and your brand identity
Protect your digital assets
A company’s digital assets are intellectual property and should be treated as such regardless of file type or content. Every department, every person has content or files that serves a purpose and has significant value to the company. It is essential that companies are aware of all these assets and have the system to properly protect them.
It’s quite common that individuals save files locally on their computers or in restricted company folders. This has several weaknesses:
It is impossible to have an overview of the asset portfolio.
It is difficult for others to access and locate files.
File duplications can easily happen, and version control becomes difficult.
Files can easily get lost if a computer breaks down and no back-up routine is in place.
And, what happens with the files when the creator leaves the company?
With a digital asset management system, the control remains with the company, not each employee. You are in the driver seat setting the standard for everyone in the company. You get control of intellectual property regardless of file creator, and transparent asset control is established. With everything securely stored in one single location, everyone will always have access and you do not have to worry about missing assets.
Protect your brand identity
We briefly touched this subject earlier, but this is a serious challenge and should not be taken lightly. A consistent brand presentation has seen to increase revenue by as much as 33%. This alone is enough to want to protect your brand identity.
When wrong brand assets are being used, either old logo versions or when an employee gets creative on their own, it hurts the brand image and leaves your brand disrupted. A disrupted brand confuses customers and decreases brand visibility. In other words, it's bad for your brand and your business.
With a self-serviced digital asset management system you’ll have complete control of your brand identity. All assets are collected and organized for everyone to use, assets are always at hand and valid so no need to worry about off-brand creations.
The features and benefits of BrandMaster digital asset management system
Digital Asset Management features
A digital asset management system consists of functions and capabilities necessary for storing, organizing, and distributing all type of assets in one central location. But be aware, you need it to be more than a simple image archive.
BrandMasters digital asset management is a truly functional DAM system that allows you to create the structure that perfectly suits your company and user-needs. It lets you streamline asset maintenance and secure user-friendly workflows for all users and stakeholders. It lets you create automated workflows and has powerful search capabilities to secure a bulletproof file archive for all asset types. You can even make your files adjustable.
Here’s a short list of BrandMaster DAM-features:
Artificial intelligence optimizes powerful asset search
Advanced filter settings and search assistants makes it easy to locate files
Easy drag and drop makes uploading easy
A smart content-aware option enables image cropping easy
Organizing digital assets is easy with flexible and multi-level categorization
File transcoding automatically process your assets from one format to another
Flexible access control
Simply put, digital asset management is more than an image archive. It covers videos, sounds, icons, patterns, templates – Every file you can possibly imagine is manageable and processed in your online DAM system.
Benefits of digital asset management
With BrandMaster’s digital asset management system in place, you’ll be able to automate both ad-hoc tasks and administrative assets – aligning company operations and streamlining marketing efficiency:
Collect all digital assets in one place
Protect your company assets and valuables
Achieve transparent asset control
Share your assets with ease
Increase company efficiency
Reduce unnecessary costs
At the end of the day, BrandMaster’s Digital Asset Management is the tool you need to stay ahead and in-front of marketing trends and your competitors. It allows you to eliminate marketing bottlenecks that slows you down and increases time-to-market. It can actually leave you with 70% more time on your hands.
Are you ready to see what BrandMaster’s digital asset management system can do for your brand and company? Do not hesitate to get in touch with us, we are happy to chat, no strings attached!