5 reasons IT leaders should care about Digital Asset Management

Written by Rick Madigan
July 1st 2020

3 minute read

Delivering experiences that meet the demands of today’s customers requires a scalable infrastructure, one that enables organisations to take advantage of emerging technologies to get to market ahead of the competition. With an ever-increasing number of touchpoints, digital assets are in demand like never before and when operating multiple teams, often at a global scale, the right Digital Asset Management system (DAM) can be transformative. 

Digital Asset Management (DAM) is not a new concept. Emerging around 30 years ago in the form of rudimentary storage solutions, it has evolved into sophisticated storage, organisation and retrieval solutions for digital assets (images, photos, creative files, videos, presentations, etc.). 

For years, this has been considered the responsibility of marketing and brand teams as assets, digital or not, are widely considered their domain. Procurement of DAM solutions occurred outside of the wider software procurement strategies resulting in fractured digital landscapes. 

Digital asset management is much more than simply the storage and organisation of assets. It has a key role to play in the modern architecture and here are five reasons why senior IT leaders need to factor Digital Asset Management into their transformation plans:

#1 – Wasted time is reduced
Over the last 20+ years we have experienced varying degrees of disorganisation when it comes to asset management across organisations. Ad-hoc solutions and outdated processes rule and employees are often scrabbling around for the assets they need for the task at hand. As a result, there’s a lot of wasted time and, above all, an impact on productivity where resources could be harnessed more effectively to deliver greater value to the customer and the business. 

A well-considered DAM implementation as part of a modern, flexible architecture means a centralised, and more importantly, optimally organised bank of assets which can be accessed quickly, meaning more time can be spent on activities that generate value.

#2 – It’s more cost-effective
If assets are centralised in a single location, this removes the risk of disparate storage and asset duplication. Yes, you do need to be in the six-figure-plus numbers of assets to fully realise this pain but that migration towards a centralised DAM removes the multiple ad-hoc hosting/storage costs and consolidates into a more cost-effective single subscription cost. Enough to put a smile on the sternest of CFOs at least.

#3 – A greater customer experience
Digital transformation arguably begins and ends with the customer. It’s not just about the default customer experience that everyone gets on first engagement. It’s about how you leverage the information you receive to deliver richer, more personalised experiences. Customers are also savvier than ever and are quick to pick up on discrepancies across the experience.  Not only that but the rise of omni-channel means even more touchpoints – digital and physical – provide an even higher level of scrutiny. 

With so many channels, it is easy to fall back to the localised storage of assets for each but here lies the road to ruin. A lack of centralisation invites inconsistencies and human error. 

Centralising assets and leveraging the power of the delivery network attached to the DAM ensures brand consistency along with optimised media, created specifically for the channel. As you move through a digital transformation journey and enhance the customer experience, you will maintain that all-important presence in your customers’ eyes.

#4 – Deeper insight into your digital interactions
As mentioned in #3, customer experience is a melting pot of multiple elements. Getting the best experience is no longer just a case of tweaking the colour of a button but analysing and optimising different aspects to hit the sweet spot. Assets are one of these aspects and a well-considered image can inspire and engage a customer, driving conversions. 

DAM solutions provide the all-important analytics that can be merged with more traditional web analytics to understand the customer experience, specifically what assets work, and then this intelligence can be leveraged to enhance your digital offering. 

#5 – Peace of mind when it comes to data security
Increasing data protection and industry regulations can make it a minefield for most businesses. Keeping a close rein on not only the data you obtain but also what you put out into the world is essential. 

Any DAM worth its salt has the granular security, permissions and taxonomy to protect and govern your assets, giving your businesses peace of mind.

If you'd like to learn more about how to select and implement Digital Asset Management or want help to build digital products that will transform business performance, then please drop me an email at rick.madigan@mmtdigital.co.uk

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