Marketing’s Need For Digital Asset Management
With one third of marketing assets going unused or underutilized, marketing firms are seeking a better way to use their assets. The solution is digital asset management (DAM). Digital Asset Management has proven its value in increasing companies’ profits by reducing cost and increasing revenues by enabling users to leverage and repurpose their assets. Most companies today are planning to upgrade or buy a DAM solution to take advantage of DAM’s ability to reduce cost and improve efficiency.
Most companies spend a lot of money, effort, and time on gathering assets which they can use for their marketing projects, but digital assets are often unused or underutilized. With the exponentially growing number of assets needing to be managed and shared, companies can no longer use the traditional ways they have been using before – to name a few, using a simple folder system or excel sheets.
Marketers are usually the first people in a company who notice the need of a DAM system. Today, marketers require 10 times as many assets to create a marketing campaign than they needed in the past. Overtime, they realize that the current folder storage and labeling methods can no longer keep track with their growing archives.
Common problems marketers encounter decreasing their efficiency are the :
- Difficulty finding assets
- Wasting time creating duplicated work because they cannot find the assets on time or at all
- Non-complainants use of licensed content
- Brand inconsistency from asset misuse
The root cause of the problem is their current system doesn’t have an advanced search engine that support metadata tags. DAM provides search engines to locate the assets quickly through metadata, taxonomy, keywords, tags and multi-faceted search. By performing complex searches, a DAM can look across the one dimensional, older structure to locate assets that were previously siloed off by previous searches.
Non-compliant use of licensed content and copyright issues are a result of poor tracking. In some cases, department track copyrights through excel sheets. The search is passive and does not proactively restrict asset use. As a result, time is wasted and potentially misbranding or copyright infringement can occur. When done correctly with spreadsheets, cross checking asset use it time consuming in a manual process. DAM solves the problem by having the ability to link the licensing data to the assets through metadata tagging or integrating with a third party tool such as a licensing management system. The DAM can restrict access to unlicensed or expired assets and alert users to upcoming expiration. As a result, DAM takes a proactive approach to regulating copyrights and compliance by continually tracking usage and user rights.
Overall, DAM provides marketers with the following improved efficiency:
- Scalability: the ability to search the continually growing number of assets quickly
- Improved workflow: less time spent locating assets and the ability to repurpose past assets
- Metadata: better labeling of files to search across silos
- Security: better ability to prevent unauthorized use
DAM is not longer the tool of large marketing companies but an essential marketing tool for all marketers to reduce cost and improve efficiency.