Digital Asset Management is a modern requirement for online businesses, but what is it and why do you need it?
What is digital asset management?
Digital asset management, or DAM, allows you to store, share and organize your business’s digital content. DAM software solutions help you store all of your brand’s media and brand assets in one easy-to-use, secure, and centralized system.
Content management is important for all businesses. It ensures sharing of assets with the right employees and ensures teams have access to the right digital files.
DAM systems allow you to get the most out of your files with cloud-based storage for all files types. This includes creative team files like images, videos and other media types, all stored in one place. This technology will help your company with brand consistency and can improve customer experience.
What are digital assets?
When talking about DAM platforms, digital assets are at the center of these programs, but what is considered a digital asset?
Digital assets refer to any company content that is stored, or can be stored, digitally. These assets can be shared and managed by team members within your company and with relevant external organizations or persons.
Digital assets can be almost anything – social media posts, advertising, presentations, spreadsheets and more. Managing digital assets effectively is key to the success of your business. Most businesses have a lot of different digital assets that require intensive record-keeping with version control.
Every department in your business will be interacting with these assets, so choosing a DAM solution that works for your business is important. Digital asset management platforms allow employees across an organization to collaborate and share these files efficiently and easily.
What is a digital asset management system?
A digital asset management system is the actual software or digital asset management company that sells and manages DAM programs. Remember, choosing a digital asset management system correctly is a key part of your business’s file storage strategy. Check out our guide on DAM best practices here.
How does digital asset management work?
Below are the steps that are involved when using a DAM system:
- Asset creation: The first step is creating file formats and templates for the digital file encoding process. This happens before the actual assets are created and standardizes the digital files to make them easier to find on the database.
- Encoding: Using metadata, the content can be identified by attributes for easy retrieval. This includes things like the file type, version and where the asset was created. Encoding and indexing each asset with these identities makes them highly searchable.
- Workflow: The encoding and indexing step can be automated using workflows to automate the process.
- Version control: Setting version controls, especially for automated processes, helps to ensure that only the newest versions of the documents are being used for editing, review and company use.
- Permissions: Setting up permissions to restrict who has access to each asset adds extra layers of security to protect your digital assets from being corrupted, stolen or erased.
- Audit: Conducting an internal audit to see how the DAM is working and where it can be improved.
Why is digital asset management important?
Managing digital assets effectively will improve the health of your company’s digital spaces. As your organization grows, so does your content library, making it harder to manage and keep track of. It can decrease productivity by increasing the amount of time it takes to find one file.
DAM solutions can also help to streamline and automate tasks involved with managing company data. They will house your company’s assets in one easy-to-find, highly searchable database.
The benefits of digital asset management
There are a lot of incentives when using a digital asset management system.
One of the most helpful aspects of a DAM solution is that it helps to ensure that brand messaging is consistent with the brand’s position in the market and follows brand standards for visual media representations. It makes reusing creative assets easier and helps to maintain brand consistency across all communications.
It also saves your organization time and money. By making it easy to find and save assets, DAMs reduce the cost to produce such assets and decrease the need for duplicate work. It will also save your employees time by allowing them to access and find what they need much faster.
DAM will make your organization more transparent by providing a clearer view of digital assets. It can also lead to increased and easier collaboration between teams.
Another amazing benefit of these systems is their ability to increase customer loyalty rates and increase the number of leads and conversions your company receives. It allows content to be organized and found based on where they fall in the sales funnel. They help your business share the right content, with the right customer, at the right time. This allows the customer to get a personalized experience and creates stronger relationships for your organization. The effect of DAM allows your business to create strong relationships with your customers faster, which then moves them through the buyer’s journey more quickly.
DAM software can also play a key role in meeting government regulations and compliance.
We are DAM integrations experts
InterOperate specializes in Digital Asset Management. To see why some of the largest brands online trust these us with their assets, set up a no obligation meeting with one of our experts.