As marketers rely increasingly on digital assets to create marketing campaigns and connect with consumers, legacy solutions have become less for managing key content like media files, images, and videos. With 51% of marketers wasting money producing or recreating assets that go unused because employees can’t find them (Source: The State of Digital Asset Management), more companies are starting to look at the benefits of Digital Asset Management software.
In 2020, the Digital Asset Management market was valued at $296.2 million and was estimated to reach $9164.96 million by 2026 (Source: DAM Market: Growth, Trends, COVID Impact). One of the reasons for the fast growth is that Digital Asset Management solutions provide a central repository of digital assets that a human-user can search on demand.
In this article, we’re going to look at why more organizations are implementing to Digital Asset Management strategies to manage their creative assets, the main benefits of Digital Asset Management solutions, and Digital Asset Management requirements. But first, let’s look at what Digital Asset Management solutions do.
Core Digital Asset Management Features
Digital Asset Management solutions are very important in today’s organizations. DAM systems are platforms that store creative assets within a central content repository. With a digital asset management solution like the Nuxeo Platform, users can upload hundreds of assets to an online platform to create a searchable library of rich media assets.
Storing documents within a central repository enables human-users to search for documents through a search form. In the search form, the user can search for assets by querying their metadata. For instance, you can search for materials based on publication date, creation date, format, width, and height.
It’s worth noting that there are other Digital Asset Management features you can use to refine your content delivery pipeline, such as automatically versioning documents, asset watermarking, document sharing, and workflows as part of one solution.
6 Benefits of Digital Asset Management
A streamlined Digital Asset Management process offers many advantages to modern organizations and product companies. Below we’re going to look at some of the main benefits of Digital Asset Management solutions:
1. Greater Visibility of Creative Assets
One of the most significant benefits of Digital Asset Management solutions is that they help address poor visibility of rich media assets by enabling users to store all files, images, and videos within a single centralized platform. Instead of searching in multiple systems for assets, a user can simply search a single system for tagged assets, with a powerful enterprise search software.
2. Less Manual Admin
Next-generation solutions like the Nuxeo Platform can automatically tag uploaded assets, so employees don’t need to spend time manually tagging documents. Automated tagging also means there’s less chance of employees entering the wrong tags and losing critical materials.
3. Streamlined Collaboration
Instead of managing documents through email conversations, users can use a platform’s onboard content workflow engine to assign tasks to other users, issue task reminders to other employees, and streamline collaboration when working on upcoming campaigns.
This brief takes a detailed look at how a cloud-native digital asset management system drives collaboration and enhances the creative process.
4. Accelerate Time-to-Market
The combination of less time wasted searching for rich media assets, streamlined task management, and enhanced collaboration means that creative teams can access the materials they need to create effective marketing campaigns quickly and accelerate product development.
5. Enhanced Security Controls
Solutions that offer user access permissions and content security enable enterprises to control who has access to what assets. In other words, an organization can restrict access to private files and reduce the risk of unauthorized users accessing protected materials. That means less exposure to data breaches or financial and regulatory liabilities.
6. Guarantee Brand Consistency
Instant access to all creative assets means that creative teams have the perspective needed to select the up-to-date materials to market products in a way that authentically represents your brand. In short, creatives aren’t limited to the materials they could find searching your internal systems.
See how to use a brand dam system in this whitepaper.
Digital Asset Management Requirements: When Do You Need One?
If your organization stores digital assets like media files, images, or videos and your employees are struggling to locate those materials, then a Digital Asset Management solution can help them find creative content faster.
As mentioned above, one of the core benefits of Digital Asset Management is that you can store digital assets in a searchable central repository so that employees can find marketing materials more easily.
However, if you’re unsure whether a Digital Asset Management solution is right for your organization, then there some key questions you can ask yourself below to measure your level of readiness:
- Are you wasting lots of time searching file systems and emails for digital assets?
- Do you regularly upload and download creative assets?
- Are you trying to collaborate on documents in email threads?
- Do you need a solution to monitor user access to files?
- Are incorrect tags making it more difficult to find rich media assets?
If you answered yes to any of those questions above, then a Digital Asset Management solution can help you enhance your content management process. It’s worth noting that adopting an AI-driven Content Management solution with an automated tagging solution is your best option if you want to ensure materials have the correct tags so other employees can find them.
The Benefits of Digital Asset Management: An Easier Way to Manage Rich Media Assets
Searching for media assets within multiple file systems is a waste of time you don’t have to accept. With the vast benefits of digital asset management, you can store all of your assets in a single system so that your marketing team can spend less time searching for documents and more time creating products that sell.
To go further, read this paper which explores the benefits of cloud-native digital asset management, the differences between cloud-native and cloud-based, and the business impacts of cloud adoption for DAM applications.