What to expect from a Digital Asset Management Tool in 2021
With the advent of the new normal, our life is glued to one screen or the other and digital advertising has received an impetus across the world. It is predicted that global digital advertising spend would be worth a whopping US$526.1 billion by 2024. So, you can also expect an increase in the adoption and use of digital assets across organizations. Digital assets, including images, design files, videos, presentations, etc., are crucial for executing various digital marketing activities, such as social media marketing and content marketing campaigns.
With Artificial Intelligence (AI) and Machine Learning (ML) changing every aspect of marketing and other industries, managing assets seemed to be a problem of 2000. But it’s not! Brand managers do end up facing substantial challenges when it comes to managing such assets on a day-to-day basis.
Challenges that come with managing assets
Loss of digital assets
Digital assets may get lost when computer data or computer networks within an organization get corrupted or damaged. These assets could also be lost while being transferred from one storage center to another.
Locating assets can be time-consuming
As a brand manager, you are almost always grappling with tight deadlines to complete projects. With time being of the essence, it becomes vital to have any digital asset you need at your fingertips. However, considering they may be stored across disparate systems, looking through multiple folders and emails to locate the right asset can take quite some time.
Recreating assets repeatedly
With digital assets getting lost or misplaced, you might be forced to recreate them. For this, you might have to either involve an agency or a freelancer. Apart from incurring their fees, it can also impact timelines.
If you involve an in-house resource, you may be forced to incur the opportunity cost of not using the resource for some other activity. Unsurprisingly, the average cost of recreating a digital asset can go up to $1000.
According to a report by Stackla, which was published in 2019, 86% of consumers felt that authenticity is a vital factor when it comes to choosing the brands they like and support. Therefore, it isn’t surprising when another survey that was conducted by approaching marketers revealed that 70% of marketers felt consistent branding is the most important aspect to consider while communicating with existing clients.
As your brand evolves, logos, colors, font type, taglines and more may change. If your digital assets are all over the place, it could be difficult to ensure consistency when using them in various brand communication.
Multiple users cannot collaborate
With content marketing projects requiring multiple individuals across teams or locations to work together, collaboration can be a challenge if digital assets are not centralized. For instance, large file transfers would be necessary to share digital assets, but sending and receiving them could be difficult and could even cause delays.
Digital Asset Management As A Solution
Having a Digital Asset Management (DAM) system organizes all your digital brand assets at one central location, making it easy for anyone in the company – from brand managers to product teams – to collaborate and work on projects without any problems. It can also make a brand’s online content marketing process easier as DAM platforms let you store, organize, search and share assets with ease.
Following are the benefits of using DAM Software for your brand assets:
Enable storage of metadata
A DAM not only stores digital assets but can enrich information about those assets, such as provenance, copyright, technical specifications, etc. Metadata can be easily accessed through a DAM and modified as per requirements.
Locate your assets easily
It allows you to search for your digital assets using multiple filters such as keywords, categories, file types, date of creation, etc. Thus, you can recover assets quickly and ensure that your content marketing activities are executed as per scheduled timelines.
Avoid losing your assets
Since most DAM solutions are supported by cloud storage, it centralizes all your company’s digital assets in one place and keeps them secure. This makes it easy for any authorized user to retrieve the correct assets quickly, and without having to sift through folders or emails.
Collaborate seamlessly and efficiently
With an asset management system, remote working teams no longer have to worry about how to successfully collaborate on a project. DAM solutions are designed to allow teams to work on a single file and instantly sync the changes across various systems. With work-from-home being the new normal, a DAM solution offers a significant competitive edge by enabling employees to collaborate seamlessly. It also makes it easier and safer to collaborate with external partners. For instance, Scatter Content Box allows brand managers to share assets with external partners via a copy link that has an expiry date. This means never having to worry about the security of your brand’s assets.
Build a consistent brand image
An asset management software keeps your visual assets up to date. Hence, you can ensure harmonious consistency across your brand identifiers. This builds a deeper bond of trust between your consumers and your organization’s brand.
Leverage version control functionality
Don’t like the current version and want to roll back to the previous one? A digital asset management software, such as Scatter Content Box, makes it super easy and convenient for you to switch back to the previous version. With a single click, the version control system allows you to fetch any of the previous versions of a file in less than a minute.
Monitor and control access
When working with different teams, both large and small, it is likely that different stakeholders (designers, content marketing, sales, etc.) will need different assets to complete various tasks and projects. Therefore, it becomes crucial to offer appropriate access to each of them. For instance, some team members may only require viewing rights, while others might need access to change or edit files. A DAM platform like Scatter Content Box provides brand managers the freedom to define multiple roles, such as account owner, super admin, admin, team member, etc, so each has precise authorization when it comes to managing specific assets.
All these features help brand managers to streamline operations and improve ROI, eventually creating an efficient and effective way to work.