DAM: The What and The How
Digital Asset Management (DAM) first emerged approximately 30 years ago as a specialized solution for media, publishing, and print companies to store and organize their digital assets – mostly videos and photos. It wasn’t until recently, in the last five to 10 years, that DAM really reached a revolution and became so much more than just a basic media solution.
Now, with much thanks to the rise of content marketing, DAM is a key component of the marketing technology (MarTech) tools organizations utilize. They invest significant amounts of money in solutions that enable them to systematically and efficiently store, organize, manage, retrieve, and distribute digital assets including documents, images, audio content, video, animations, graphics, presentations, and more.
As you can see, DAM is certainly a valuable tool for empowering employees with relevant, accurate data and collateral. The value doesn’t stop there, though. In fact, according to market research firm Mordor Intelligence, the value of the DAM market was estimated to be 2.9 million in 2020, and is expected to reach 8.2 million by 2026.
So, where exactly does this value fit in with organizations that are investing in the solution? Well, when implemented properly, DAM delivers a guaranteed ROI. Here are three ways DAM can help you maximize ROI:
1. Optimized Search Capabilities
DAM reduces the amount of time employees spend looking for digital assets. The solution allows them to search for specific items with the help of keywords and metadata. It also helps create an efficient asset approval process which ultimately saves time for each department involved.
2. Reusability of Assets
Let’s get real: Organizations are producing assets at such a high volume these days that it can be extremely difficult to find what you’re looking for when you’re looking for it. If the asset is not located and needs to be reproduced, it can then lead to two types of losses. First, the expense of reproducing the asset, and second, the expense of earlier production. DAM helps save time, cuts the cost to reproduce, and reduces wastage of existing assets.
Furthermore, DAM allows for the tracking of asset usage helping deduce the true value of it.
3. Compliances and Commercial Rights
Like any proprietary asset (data, content, technology, etc.), there are usage terms, intellectual property (IP) rights, and legal regulations. DAM allows for compliance with usage terms, verification of the information, tracking of usage, and more, all within the solution.
It’s critical for organizations to invest in DAM solutions that ensure compliance as it helps detect any mistakes that can cost a pretty penny later down the road.
Additional Benefits of DAM
- Brand Consistency and Integrity: DAM ensures all stakeholders are using and disseminating the same, branded files.
- Streamlined Distribution: DAM enables stakeholders to get the exact information they need, faster. It’s essentially a self-serve environment which allows internal collaborators, sales teams, and external partners to have instant access to the assets.
- Accelerates Creativity and Production Cycles: Various DAM tools help bring efficiency and agility to content creation which then enables version control, conversions, and workflow approval ultimately reducing time spent on manual tasks.
If you’re looking to integrate a DAM solution that works seamlessly with your business, contact Americaneagle.com to get started today.