The digital asset management or DAM is a system for organizing, storing, accessing, distributing, sharing, and managing digital assets. These assets are creative files like images, music, video presentation, and other digital media files.
As the business launches different marketing campaigns, the number of its digital files increases quickly. With digital asset management, the business can access all their digital assets for A/B testing, analytics and save a lot of business money.
DAM has many benefits to businesses, and cutting cost, improving profitability, and increasing their marketing ROI are among the top advantages. Below are ways digital asset management can save a business money.
It eliminates asset loss
Digital assets are usually disorganized without DAM tools. As the number of these essential files increase, the chances of losing these media or forgetting it ever existed is high. The content marketing creators may get stuck restoring and recreating these lost digital assets as they can’t find the old files.
An employee spends around 19% of the time at work looking for needed files. These could delay a lot of work, hence delaying the final product’s release and may also lead to unplanned expenses. Using DAM, all of the company’s digital assets are available all the time.
It allows content repurposing
Easy access to every digital access helps the business repurpose its content. According to a survey, only 22% of the businesses are using appropriate content repurposing systems, and one of the main reasons is the lack of DAM tools.
In 2015, an experiment showed that publishing pure repurposed content can increase organic traffic growth by 4%. With that in mind, aside from saving the company money, repurposed digital content also improves marketing effort. However, doing this is almost impossible without DAM.
It keeps the business safe from legal cost
Using the wrong content may result in security issues, as confidentiality and privacy is a must for any branded media file. With high-quality DAM tools, it would be easy to arrange access to sensitive files and save the company from data leaks. Digital asset management allows the company to control who can view, download, and edit sensitive files.
With that in mind, the company can be safe from having unexpected legal costs, keeping them from organizational damage in the process. Moreover, a good DAM system can secure the data from hackers, preventing online theft.
It helps avoid campaign recall
Old digital assets and logos may cost a company a hefty amount of money. An outdated image may force the marketing department to recall the whole campaign.
With the right digital asset management tools in place, all digital assets are well organized, keeping the company from using old files with expired rights.
It helps gain a competitive edge
Although DAM has many benefits, many companies are still having difficulties when it comes to adopting an efficient system. With that in mind, marketing departments may have to deal with rights protection issues, lost assets, content repurposing barriers, and more.
The right knowledge in managing digital assets will let the company gain a competitive edge without spending a lot of business money.
Properly managing the digital assets will let the business save a lot of money, gain a competitive edge and improve its profitability. Without it, a business may lose important digital assets, waste a lot of time and talent, and more.