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Four Predictions for the Future of Digital Asset Management

May 07, 2020
Four Predictions for the Future of Digital Asset Management

Since its inception in the mid-to-late 1990s, digital asset management has been making substantial waves in record and document organization. In fact, the DAM solutions of today are going above and beyond the basic asset storage hub of the 90s, adapting to ever-increasing demands around document security, and data collection and creation. 

So, what does the future of digital asset management look like? When we assessed the state of digital asset management in 2020, it was clear that DAM could have widespread implications for improving customer experience. We believe that customer experience will continue to guide how marketers use solutions like DAM and other digital content management tools to make better, more holistic business decisions. Below are our four predictions for how digital asset management will evolve to ensure that brands are able to provide competitive customer experiences.

Simple, Yet Dynamic Features for Better User Experience

As more marketers and designers rely on digital asset management to deliver better customer experiences, the need for simple, intuitive solutions becomes more important. While a DAM solution with more features might seem helpful at first, this could actually lead to more confusion. Too many features might present unnecessary complexities, making it more complicated and time consuming to finish marketing projects. This could ultimately hinder a brand’s ability to present customers with content and digital media in a timely manner. 

To prevent these roadblocks, the digital asset management software of tomorrow will morph into more than just a place to store, access, manage, organize, and distribute content. Technological advancements will drive content to become more dynamic, therefore requiring DAM solutions to adapt as content becomes more omnichannel. According to MerlinOne, DAM solutions will likely grow into more general digital experience management systems, expanding focus into the overall digital management experience of the user. This all begins by providing marketing teams with a comprehensive, efficient user experience and simplistic features. From there, they can then transition these benefits to the customer.

Powerful Analytics Informing Data-Driven Business Decisions

Today, there is an expectation that every business decision should be data-driven. Content creation is no exception, even in its inherently creative process. How can content creation and analytics work cohesively without one hindering the other? 

Using digital asset management analytics can actually help liberate creativity while helping marketers make smart decisions on which assets are working best with their respective audiences. A robust, comprehensive DAM like the one MarcomCentral provides should include full content and asset reporting, providing in-depth insights and telling marketing teams: 

  • Where assets are being used outside of the DAM platform
  • Who is using these brand assets
  • How many times digital assets are downloaded, viewed, shared, and repurposed
  • How digital assets are performing

With this information, marketers will be able to improve their strategies and better assess what their audience responds to. This will help guide future campaign decisions, focusing marketing efforts around what customers actually want to see and ultimately increasing the ROI of a given asset. 

Improved Brand Management with Automation

Customer experience by itself is redundant unless it is informed by branding. A company’s brand is what sets it apart from its rivals, informing the experiences being provided to customers in efforts to differentiate from and outpace the competition. For this reason, brand management activities will become more reliant on automation features provided by the DAM software of the future. For example, AI can transform a standard DAM into an intelligent automation tool, performing tasks such as auto-tagging content and flagging brand inconsistencies to a user in real-time as they edit an asset. With brand automation, data scientists can better ensure that messaging exudes brand consistency as it travels from producer to consumer in the form of a digital asset. 

The implications of brand consistency will only have more of an impact on the future of digital asset management systems. Advanced DAM systems of today allow organizations to store all of their marketing assets and files, and provide controlled access to employees 24/7. But as consumers grow savvier and have more access to brands than ever before, they also have more choice in which brands get their business. This makes brand management and asset management tools all the more important. By focusing on supporting critical brand management efforts, DAM systems will help solidify, optimize, and protect an organization’s reputation and customer experience.

Technological Innovations Modernizing How DAMs Are Used

Technological advancements will continue to impact businesses in transformative ways. The same goes for how marketers use digital asset management tools. Many argue that digital asset management solutions sit at the heart of the MarTech stack because it’s where an organization’s content lives. As a result, more sophisticated DAM systems will allow for greater efficiency when creating digital marketing assets by streamlining workflows. With more modern technological advancements, marketers will be able to create content, build and launch campaigns, and understand which assets are performing best, all from one integrated platform. 

There is another aspect at play when it comes to how innovations in technology affect the future of asset management software. As consumers continue to adopt various devices and entertainment platforms like smartwatches, emerging social media platforms, and virtual assistants, marketing teams will need to evolve their media management to reach users at these touchpoints. Consequently, DAM solutions will need to modernize their distribution methods so they are fully compatible and omnichannel. According to the MacKenzie Corporation, companies with extremely strong omnichannel customer engagement retain on average 89% of their customers, compared to 33% for companies with weak omnichannel customer engagement. By having the ability to reach consumers on every platform where they receive content, brands enhance their likelihood of creating memorable customer experiences that keep people coming back for more. 

Adapt DAM to Prioritize Customer Experience

The road ahead for DAM is full of exciting new advancements that will greatly affect how organizations customize and manage their marketing assets. The epicenter of these customization and management techniques will be the digital content management tools that allow brands to effectively communicate, and continually meet the needs of their consumers. Brands that wish to improve customer experience in the future will need to adapt their DAM solutions to ensure that goal always remains top-of-mind. 

Learn more about our DAM solution today and how it can help brands in any industry prepare for the future of their business.