The growing importance of DAM
DAM has increased in importance as the amount of time people spend in the digital domain has risen. Research has shown, today's consumers spend up to three hours a day on social media platforms alone, and even more time consuming other types of content via their mobiles.
Businesses clearly can't afford to ignore the ever-growing significance and value of digital channels as far as marketing is concerned. Brands have stepped up their use of various forms of marketing content to connect with their online audience, with assets like images and videos offering great potential to grab people's attention and build engagement.
The explosion of digital assets in the typical company's marketing arsenal means it's more crucial than ever to have a clear strategy for managing these resources and maximizing their value.
This is where DAM comes in. Rising demand from enterprises looking to better manage their digital assets and content is driving growth in the market for DAM software and support, which is expected to reach a value of US$5.7 billion by 2022.
The benefits of DAM
Expansion in the DAM market suggests that more organizations around the world are recognizing the business value that can be gained from this approach.
As far as the day-to-day operations of the marketing department are concerned, DAM can help you achieve various positive outcomes, offering the potential to greatly improve and even revolutionize how your team works.
- Speed: DAM provides a central, searchable database where all of your digital files can be stored. This makes the job of finding the right assets for particular campaigns, product launches and other marketing activities much easier. The less time your people have to spend tracking down the right assets, the more time they have to focus on tasks like devising and executing your content strategy
- Cost reduction: DAM increases your team's efficiency and cuts down on wasted time, but it also helps you avoid spending money on creating or acquiring assets you might already have. It gives you complete visibility into your existing resources for effective reuse and repurposing
- Integration: through tagging and detailed metadata, DAM makes it easier to find closely related, complementary assets that can be combined to boost their overall value and increase the impact of your marketing
- Consistency: if brand consistency is one of your top marketing priorities, DAM can help you achieve it by bringing all of your creative resources together in one place, making it easier to spot assets that are out of date or don't meet your quality standards
- Conversions and ROI: ultimately, DAM can help you improve your marketing with quicker, more responsive campaign launches, greater cost efficiency and a stronger content offering, all of which fuels conversions and helps you demonstrate ROI
Preparing for DAM
Like any new system or piece of business software, DAM raises certain questions that must be answered before you commit to a full rollout of the process across the company.
One of the key considerations is user adoption. The entire business needs to be onboard with the idea, and training and support should be provided to ensure all relevant parties know how to use DAM properly.
Furthermore, it's important to decide who’ll 'own' DAM within the organization. Finding the right person to manage this aspect of your marketing will help you realize its full potential.
Another important step to take before adopting any particular technology is ensuring it can be integrated with your existing systems. Check to confirm that you can use APIs to allow your various applications to 'talk' to one another and share data without manual intervention by your team.
Once you've covered the considerations that really matter and accounted for the costs involved in DAM adoption, you can look forward to gaining more control over your digital assets and leveraging their full business value.
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