Digital Asset Management (DAM): Definition, Benefits, Solutions

by | Sep 14, 2021

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Here is a fun fact: According to a study, using a DAM system can help marketers shorten time to market and increase high fives in your organization by 500%.

Pretty interesting, right? Well, what if I tell you that you could also have these increased conversions in no time if you know what DAM is and how it can benefit your business?

But just like old me, a lot of us do not even know what digital asset management is and how it differs from Content Management System (CMS).

In this blog, I will be taking you through what DAM Systems are, what their benefits and features are, the top 5 DAM tools, and how they can boost your business efficiency. 

Alright, then. Let’s get started!

What is Digital Asset Management (DAM)?

Before digging into digital asset management, you first need to understand what digital assets are. 

Digital Assets are files that have a long-term intrinsic or acquired worth. There are a lot of things that come under digital assets. All the images and videos on your website are your digital assets. Not only images and videos, design files, word documents, and PDFs come under digital assets.

Now as you know what digital assets are, you can understand digital asset management better. 

Tools like Apimio help you manage your Digital Media in a much more flexible way without going heavy on your budget.

Digital Asset Management (DAM) is all about the control, flexibility, portability, access, and reporting of these digital assets between businesses, customers, partners, and suppliers as a discipline and a technology. 

DAM is concerned with delivering the appropriate information to the right people at the right time on all devices. DAM has the ability to manage and measure digital asset engagement across an organization and its potential worldwide reach.

Difference between CMS and DAM?

The phrases “digital assets” and “content” have become interchangeable as the digital asset management business has evolved.

This adjustment was made to better connect with marketing teams and the growing popularity of content marketing. However, the word “content” in the DAM arena has led to the misconception that a DAM and a CMS (content management system) are interchangeable.

A DAM and a CMS are two different technologies that serve entirely other purposes for a marketing team.

In a nutshell, a CMS helps manage content for your website, but a DAM helps manage material across multiple channels for your entire firm.

A classic example of a CMS is WordPress. WordPress is a CMS that allows users to create websites, blogs, or even applications.

wordpress-CMS

What about a DAM example? Well, we will talk about that in detail later in this blog.  

How does Digital Asset Management work?

A lot of you might be wondering how this all DAM work in the first place.

Well, DAM begins with creating digital content in a digital format or encoding digital content through methods such as picture or text scanning, or digital audio recording.

Following that, indexing is required so that the file or asset may be uniquely identified inside an asset inventory. 

Metadata tags, which provide more information, details, or a description of the item, are commonly used to accomplish this.

Metadata can also capture rights, licenses, and pricing for a digital asset. The support is available, findable, retrievable, useable, sellable, and manageable with the correct metadata.

A digital asset becomes a part of business processes once it has been indexed. During the creative process, a graphic designer may access several images. Some of the digital photographs from a museum’s collection may be sold or licensed.

The assets are integrated into workflows to complete business tasks. The DAM system keeps track of how, when, where, and assets were accessed, modified, and applied.

Assets have their own lifecycle as part of these operations. For example, the designer may make changes to an image to make it better fit a layout. Version control is required in this situation.

Each time the designer modifies, a new file must be created, saved, and indexed.

But what if the designer is a junior who isn’t allowed to change the main catalog images?

A DAM system can define rights to manage an asset’s lifecycle, protecting it from theft, accidental corruption, and deletion.

Benefits of Digital Asset Management

Distribute Content Quickly

Keeping track of asset licensing, staying on top of file versions, and regulating stakeholder access without a solid system is challenging and can lead to many issues.

A DAM is an online solution that organizes and measures your assets and how they can be used and distributed.

A digital asset manager (DAM) allows users to quickly alter, edit, and resize photos and videos and insert links directly from the DAM.

This is done in a method that can be tracked and managed to keep creating content on track.

Find Content Even Faster

With DAM, stakeholders may quickly discover the creative files they need using a quick search, instead of looking into shared drive.

The capacity to readily search for digital assets based on metadata given or simply by tagging them with keywords and other attributes is at the heart of every Digital Asset Management system.

Facial recognition, Metadata extraction, AI tagging are automated processes. These ensure that files are always tagged correctly.

Stakeholders may then use complex search queries or filters based on this information to discover content faster than ever before.

Share Digital Assets Seamlessly

Many marketers don’t realize that they’re re-creating a lot of the content they’re working on. This creative repetition is costly and consumes a significant amount of both internal and external resources.

Marketers may avoid content duplication by having up-to-date creative saved in a central area, and they won’t have to buy or design the same assets over and over again.

You can empower your team to self-serve information regardless of their timing or location by allowing them to search for and share digital items effortlessly.

Users may locate, embed, convert, share, and publish assets with only a few clicks.

Manage Brand Compliance

There is a rapid increase in the number of digital files being created and used in a multi-channel environment. A DAM helps marketers control assets and track their utilization, bringing order to the chaos.

Marketing teams, designers, agency partners, and other business stakeholders may use approved branded assets and content with just one click. With a DAM, they’ll always have access to the most up-to-date creative files. This is crucial for brand compliance and consistency across all marketing channels.

ROI Tracking & Reporting

The solution ensures brand consistency and decides which assets drive engagement and which content should be deleted.

Furthermore, DAM can update assets distributed throughout the internet via Content Network Distribution (CDN) links in real-time.

As a result, there is no risk of it reappearing online if anything becomes obsolete or a special deal expires.

Key Features of Digital Asset Management

Content Creation Workflow

Collaboration amongst colleagues is inefficient when creative workflows are missing. It is easy to lose the trail of who is responsible for what. This problem is very common, especially when working with external partners or coworkers from various places.

You can improve your content production and streamline communication between departments by using a content creation workflow function.

Digital Content Creation and Publishing

The “Create & Publish” modules allow you to customize InDesign layouts. Moreover, it also allows you to change predefined text or picture regions, and create on-brand publications.

Whether it’s a social post or a newsletter, every notion is always in the appropriate format and consistent with your business identity.

The process of developing and releasing marketing materials should be centralized to assure uniformity, avoid errors, and speed up the transition from web to print.

Creating content could be one of the riskiest things that you could be doing. Managing content and publishing it on the right social media platform is the real game-changer. But the real game-changing thing that you could do is to share it and promote it in the right context of the market.

Brand Portal

Your designers will most likely remember your brand book off the top of their heads. Other members of your team, on the other hand, are unlikely to agree. Consumers must be able to identify with your brand if it is to be successful.

A brand portal feature enables you to deliver consistent brand standards and up-to-date assets to everyone involved in generating and distributing marketing material, ensuring that everyone utilizes your brand correctly. 

Top 5 DAM Solutions

At this moment where we have discussed the benefits and key features of a DAM, you must be wondering what solutions are currently available in the market.

In this section, we will discuss the critical DAM solution (software) that you can consider using.

Apimio

Apimio-website-DAM

Apimio is a digital asset management system that allows users to store, share and optimize their digital assets in a central location. It let you centrally manage all your product images and the product information and syndicate it across multiple platforms

One of the unique features of this digital asset management system is that it also allows you to share all these digital assets with your vendors and (or) retailers. 

Moreover, Apimio also gives you recommendations on image data quality and permits you to make those recommended changes. Through this, you can improve your image data quality before sharing it on multiple platforms and business partners. 

Amplifi

Amplifi-website-DAM

Amplifi is a cloud-based DAM software with a natural user interface that is simple to use. It, too, has a fully branded look and feel with customized portals, just like Workfront Library.

Amplifi also automates media transcoding and using artificial intelligence (AI) for content tagging and product-centric organization.

Another special feature of this tool is that any movies submitted and stored can be streamed, embedded, linked, and converted on demand.

Third-party programs supporting automation can quickly publish, distribute, and share all of the digital assets.

ResourceSpace

ResourceSpace-website-DAM

ResourceSpace is an open-source DAM built in the United Kingdom that supports both cloud and on-premise implementations. Because it is open-source, it is highly adaptable and expandable to your company’s size and requirements.

The software’s UI and header may be customized to fit your company’s identity and name, which is very cool.

Another standout feature is its Enterprise Single Sign-On for maximum security. On the other hand, ResourceSpace only offers annual plans and costs annually; there is no monthly pricing alternative.

However, it does include 10-GB of storage and a no-strings-attached free trial.

Bynder

Bynder-website-DAM

Spotify, Canon, Puma, and other multinational brands use Bynder as their digital asset management platform.

Users may automate creative workflows with versioning, annotations, and customized approval processes. Users may also develop fresh marketing content immediately on the platform using easy-to-use brand templates.

It works with a variety of third-party software, like Magento, Google Analytics, and others. The fact that it has Android and iOS apps is also a plus.

Bright

Bright-website-DAM

Bright System has two DAM software options: one for medium to big organizations (Asset Bank) and one for SMEs and startups (Bright) (Dash).

It is one of the few DAM solutions that provides both a web-based and on-premise end-to-end experience.

Various capabilities, such as bulk upload and numerous lightboxes, are included in the software to let you upload, store, centralize, manage, and track all of your digital assets.

However, with all that being said, the best solution for your DAM totally depends on your budget, your business size, and the features you are looking for.

Conclusion

That’s it! This is pretty much everything that you need to know about digital asset management in 2021. 

I am sure that you may now have a better idea about DAM, its benefits, its key features, and the top solutions of DAM that you can consider. 

In this generation, where everything is getting digitalized, it’s crucial to have a system that can manage all your digital assets, saving your time and money. 

Therefore, as a digital marketer myself, I would highly suggest that you consider a DAM solution to make things easy for yourself and bring up your sales game.

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