When managing digital assets, the task is to amplify human capabilities and increase productivity. But what is the best way to do this with DAM software?
Digital Asset Management is nothing but a system or software that helps an organization store, manage and distribute its digital assets. Here, the secret to understanding the strategic process of any organization is to understand the “digital asset”. Digital assets can be any digital medium with documents, images, videos, animations, audio, graphics or even presentations. SO, when was it born?
Desktop publishing in the late 1980s facilitated printers, advertisers with digitized text and graphics. With Canto software, the first ever digital asset management system made it possible to find, verify and recover these files. But sharing accessibility was still a problem. In the early 2000s, DAM systems were available on servers and files could be shared over the Internet. Storing, managing and distributing digital assets has become effortless. DAM software quickly evolved into consolidated libraries ready to deliver content to different devices, systems, and repositories.
Having understood the history of DAM platforms, let’s take a look at the reasons to invest in DAM software –
5 Key Benefits of Using DAM Software
- Metadata, keyword, and tag filtering in modern DAM platforms lets you find exactly the assets you’re looking for. Lack of contextual text in metadata can lead to user frustration that no organization wants.
- As resources are centralized in a single system, searching and reusing becomes convenient. This reduces production costs and duplication of work.
- This helps build trust between stakeholders as the system is comprehensive and transparent. This results in the proper execution of plans and avoids redundancy.
- DAM platforms define brand visibility. Consistent messaging conveys a single face of the organization even though it operates in different localities.
- Personalizing the customer experience helps build customer loyalty. Content organization brings out the best service a customer can expect.
Types of DAMs
- Marketing work management – Marketing software that integrates people, process and technology into one system. An MRM system allows companies to measure, manage and report on marketing operations to better allocate resources and streamline processes. As part of an MRM strategy, several components of a contemporary Martech stack can be connected to a DAM platform.
- Product Information Management – The process of collecting and disseminating product specifications, descriptions and materials in order to promote and sell a product. PIM software also helps businesses create accurate and engaging product listings for their online outlets around the world. Businesses can improve their operations and gain a competitive advantage by implementing PIM technology to support e-commerce.
- Content Marketing Platform – Content Marketing Platform is a software solution that allows marketing companies to centralize and streamline their upstream marketing operations, from planning and briefing to collaboration and approvals, from start to finish.
- Media Asset Management – Since both help manage assets, media asset management (MAM) and digital asset management (DAM) software are sometimes used interchangeably. The technique and software used to manage large amounts of video and multimedia resources is known as media resource management (MAM).
How it works?
- Asset Creation: Define the organization’s vision and desired business outcomes across the organization’s ecosystem. The standardized formats in this regard facilitate the search and retrieval of documents from the file.
- Encoding and indexing workflows: simplified asset search through indexing and grouping of assets with common tags. With a new asset, task automation and activation is achieved.
- Version control: This is the most important step to automate workflows and get the most up-to-date information when creating new data.
- Governance by permissions: Permission to manage the asset is granted only to those who are assigned. This ensures information security and prevents data theft, corruption or deletion.
- Audit: An internal process to assess whether the DAM platform works in the given environment. This marks the effectiveness of the system and notifies the scope of improvement.
The Open Source DAM is accessible to everyone. It can be reviewed, modified, and shared with open source software, which is code that is meant to be publicly available. Digital asset management tools can be deployed on-premises, in the cloud, or in a hybrid setup. For an organization, cloud-based asset storage, management, and delivery can be a cost-effective, secure, scalable, and flexible option.
By 2028, the global digital asset management market will be worth $13.94 billion, with a compound annual growth rate of 17.67%. Since marketing and promotion activities are essential for any business, increasing investment in marketing and emphasis on digital marketing is driving the demand for media asset management worldwide.
Moreover, various factors such as the increasing digitization of enterprise contents and assets, the growing need for effective collaboration of enterprise assets, the growing demand for cloud-based management solutions, the need for Controlled access and improved security of digital assets are all contributing to this trend.
Digital assets have come a long way. So much so that the basis of all digital assets is trust. It’s about people. We have a login privilege that should be used wisely to increase productivity and work efficiency.
I hope this guide has an answer to get you started with DAMs!