Why Marketers Need A Digital Asset Management System? 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 costs 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. What are the problems faced by companies while managing their digital assets? 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. Who in the first place encounters this problem? Marketers are usually the first people in a company who notice the need for a DAM system. Today, marketers require 10 times as many assets to create a marketing campaign as they needed in the past. Over time, they realize that the current folder storage and labeling methods can no longer keep track of their growing archives. What are the common difficulties marketers struggle with ultimately decreasing their efficiency? 1.Difficulty finding assets The root cause of the problem is their current system doesn’t have an advanced search engine that supports metadata tags. 2.Wasting time creating duplicated work because they cannot find the assets on time or at all 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. 3.Non-complainant use of licensed content Non-compliant use of licensed content and copyright issues are a result of poor tracking. In some cases, the department track copyrights through excel sheets. The search is passive and does not proactively restrict asset use. 4.Brand inconsistency from asset misuse As a result, time is wasted, and potentially misbranding or copyright infringement can occur. When done correctly with spreadsheets, cross-checking asset use is time-consuming in a manual process. How does DAM solve 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 the upcoming expiration. As a result, DAM takes a proactive approach to regulate copyrights and compliance by continually tracking usage and user rights. Overall, DAM provides marketers with the following improved efficiency: 1. Scalability The ability to search the continually growing number of assets quickly 2. Improved workflow Less time spent locating assets and the ability to repurpose past assets 3. Metadata Better labeling of files to search across silos 4. Security Better ability to prevent unauthorized use Benefits of DAM Wonder what more a DAM system can contribute to your business? We have also listed 11 Benefits of DAM in general here. Learn How You Can Benefit from DAM DAM is no longer the tool of large marketing companies but an essential marketing tool for all marketers to reduce cost and improve efficiency. DAM’s benefits do not come to an end with improving marketing, it improves your customers’ experience as well. Learn How DAM Improves YourCustomers’ Experience! Know Your ROI Want to know your ROI? Schedule a call below. Schedule A Call
