What is Digital Asset Management (DAM)?

Digital asset management is a system for organizing, storing, and retrieving digital media in a central location. This page will address the importance of DAM, who would benefit from asset management, signs you may need a DAM solution, and answer other common and frequently asked questions surrounding DAM.

What is a digital asset?

A digital asset is content that is stored digitally. Common examples of digital assets include videos, photos, logos, branded graphics, slide decks, spreadsheets, files containing text, and more.

Why is asset management important?

Every company needs to keep track of its assets, as they play an integral role in how an organization/entity operates.

Asset management improves the overall organization of a company by helping employees know exactly where assets are stored, making it easier to share files and create and collaborate on projects.

By having all assets in one location, distribution is made simple as marketers can push them out on social channels, web content management systems, marketing automation systems, third-party distribution services, and more.

Asset management is also important for brand management because it helps brand managers maintain the editorial standards of all content that is created and provide guidance to anyone developing marketing materials for the company.

Additionally, asset management can help drive sales enablement efforts like creating on-brand slide decks in real time and providing on-demand access to approved assets.

For more information on what you need to know about marketing and digital asset management, watch our recorded webinar.

 

Who needs a digital asset management system?

There isn’t one particular industry that benefits most from a DAM system. In fact, anyone looking to optimize current digital asset workflow, avoid wasted time, and meet business goals would benefit from a digital asset management system. There are, of course, specific benefits that different industries utilizing a DAM system can achieve:

  • Healthcare organizations such as hospital clinics can easily have dozens of assets to track, including pamphlets, forms, and flyers. Asset management systems are critical for keeping these files organized and allowing healthcare workers to easily find individual assets and identify the latest versions.
  • In manufacturing, where companies ship and store inventory from multiple locations, entities can experience a host of challenges if they have no centralized way of managing and tracking stock. With a centralized asset management system, a marketing team can not only easily keep track of physical inventory, but also different design variations on basic asset templates.
  • Learn more about industry specific digital asset management resources

Regardless of industry, marketing teams and sales teams especially benefit from a DAM system.

With the help of a digital asset management system, marketers can easily create marketing materials with dynamic templates that can be distributed throughout a company’s various departments and offices. Consequentially, sales teams can rest assured that they always have the most updated materials since DAM aligns sales with marketing to bolster brand consistency.

While the marketing team and sales team might reap the most obvious benefits from digital asset management software, various departments across companies can enjoy and utilize what a DAM solution has to offer:

  • Designers can use a DAM to search for files needed for creative projects
  • IT departments can feel confident about file security
  • Channel partners can safely share and receive digital content through the DAM platform

Watch our recorded webinar on 3 problems marketers can fix with digital asset management.

What are the signs that you may need a DAM solution?

Here are some common signs that you may need a DAM solution:

  1. It’s hard to find the brand assets you need.

Many departments within a company store their assets in different places, from servers to hard drives to email attachments. This can make finding creative files confusing and time-consuming, especially within a large organization.

  1. Accessibility is becoming an issue.

When a concrete asset management system is not in place and marketing content is disorganized, usually one or two people within an organization become the responsible gatekeepers for the organization’s assets. As a result, accessing content can become bottlenecked as the newfound asset manager juggles their regular tasks as well as providing team members with the content they need.

  1. Security and storage are top priorities.

Businesses require enterprise-level security for storage, access, and sharing. If your important creative assets aren’t locked down in a stable and secure environment, you can risk an outsider gaining unauthorized access to private business information.

  1. You are concerned about version control issues.

From designers to copywriters to photographers, the list of people involved in making an asset is extensive. It’s also likely that these marketers will be collaborating on an asset together in real-time. If there isn’t a DAM system in place to manage version control, collaboration could become hectic.

  1. You struggle with rogue sales teams.

Often times, sales teams could be in a rush to create and distribute content on the fly. This often results in an asset that is far removed from brand guidelines, which could lead to a loss of brand equity. Having a centralized hub of marketing collateral that sales teams can access at any time can prevent this.

What are the top benefits of DAM software?

Marketers and digital asset managers can reap numerous benefits from implementing DAM software, including:

  • An organized library of digital assets all stored in one centralized location
  • Workflow automation that empowers collaboration across teams and offices
  • The ability to search for and find digital assets efficiently
  • The management of press kits, rich media, and image libraries
  • Image watermarking automation
  • Maintaining brand compliance by allowing team members to customize certain aspects of pre-approved dynamic content

What is DAM SaaS?

DAM SaaS, also known as DAM Software as a Service, is software hosted by a vendor in the cloud that is delivered to the user via the internet, often as a subscription-based service. While DAM SaaS features are usually configurable, they typically aren’t customizable.

DAM SaaS differs from on-premise DAM software in that an on-premise DAM solution is installed on your organization’s hardware and is managed, maintained, and updated by your IT department. On-premise DAM is typically more costly, as it requires more hardware and a dedicated team to manage the system.

What are the things to look for when considering a digital asset management solution?

When considering a DAM platform, it’s important to identify workflows and functionality needs. Who from your organization will be a key user of this software? Discuss what features each marketer would consider the most effective from an asset management solution.

Additionally, consider factors like security and customer service when selecting a DAM solution. Finally, identify if a certain solution provides training services for the users within your organization. This could greatly reduce the ramp-up time required and help expedite the process for creating and distributing marketing material.

Learn more about our DAM solution today and how it can help brands in any industry keep track of their content and maintain an organized digital asset library.