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What is Brand Asset Management (BAM)?
Brand Asset Management is an organizational practice that involves collecting and managing all assets of your business in one place. For example, logos are something used very often on different platforms and social media. You should be able to access them easily at all times. If you have to onboard a new designer, it’s way more efficient to invite him to a central platform where he can access all adaptations of the company’s logo and other digital media to aid in his work rather than providing him files scattered all over a system.
What are brand assets?
Brand assets are anything unique to your business and that helps people identify your business from others. They make you stand out from a market full of competitors. A brand asset can include anything from a digital file, image, or video, to your company logo. The following are all considered brand assets:
- Brand name
- Brand logo (including each adaptation and variation for different platforms and uses)
- Artwork for your social media
- Advert designs
- Digital media including images, videos, and artwork
- The typography and fonts you’ve used throughout your product and website
- Any taglines or slogans
- All types of material for your communications
- Brand assets that include the guidelines to proper usage of your branding, such as handbooks
Why your company needs Digital Brand Asset Management
Brand Asset Management tools provide companies with a centralized cloud platform to store all their digital brand assets. This makes them easily accessible and also ensures that they’re not used without a threat of loss or theft. When brand assets are scattered in files and folders across departments and systems, they’re susceptible to unauthorized changes, losses, or security breaches.
A centralized platform makes it easier to manage assets and distribute them across departments. Tools like Apimio allow you to store your brand assets in a cloud system and create custom permissions so only authorized personnel can access the assets. You can invite all your teams and assign different permissions to each of them. If one department is specifically responsible for putting out product descriptions for your e-commerce stores, while another is responsible for images and brand assets, you can create customized roles for each of them.
Managing your brand assets also creates consistency in your strategies across platforms. A study by Lucidpress found that over 60% of brands believe that a consistent and strong brand image is essential to generating leads and gaining customer loyalty. Although different platforms require different marketing tactics, your branding should always stay consistent, creative, and unique. It should be one that customers remember and talk about.
A clear BAM strategy is beneficial to your business as you can:
- Better organize your assets and manage operations with higher efficiency
- Maintain brand consistency across platforms
- Create better collaboration and communication between team members with a centralized platform containing all relevant documents and information
- Easily access data
- Monitor and analyze the lifecycle of your brand assets and ensure they’re always up to date
How BAM and PIM together can power your business
A PIM software is also a centralized cloud-based platform that gives you a single source of truth for all your product data. This includes product descriptions, product images, and other brand assets. A PIM system allows you to create consistency across your store with your product information, ensuring nothing is incomplete or inaccurate. Most PIM solutions like Apimio come with built-in BAM capabilities. Apimio goes one step further by letting you invite your channel partners so retailers can invite their suppliers, and vice versa, to share product data directly.
When retailers invite suppliers to get information directly from the source, it creates a streamlined workflow process that enables a more efficient work environment. When your product data, digital media, and brand assets are all in one place, you can manage and distribute data much faster across multiple departments and channels.
How is Brand Asset Management different from Digital Asset Management?
Digital Asset Management (DAM) is essentially concerned with the digital presence and strategies of your online store. How you store your product images and other media, and how you distribute it to your channel partners and selling platforms comes under digital asset management. BAM does the same thing but for assets concerned with your brand. Your brand’s logo, for example, would come under brand asset management.
To understand more about Digital Asset Management, read our comprehensive guide here: Digital Asset Management (DAM): Definition, Benefits, Solutions
An all-in-one solution
Investing in multiple tools for the management of various assets can be extremely heavy on your budget, that’s why we created Apimio. It lets you curate the ultimate product experience for your online shoppers while staying budget-friendly. Check out everything Apimio can do for your business by booking a demo today.