Content marketing is a highly efficient lead generation tactic. In 2021, nine out of ten marketing experts use it to generate new leads. Unfortunately, many marketers don’t have the right tools and technologies to achieve the desired results. One of the biggest challenges these experts face is improper digital asset management (DAM).
Why is DAM so important for content marketers, brand managers, and marketing managers? By 2025, with more companies tapping into its power, the global digital asset management market is expected to be worth $8.5 Billion.
Understanding the significance of DAM can help you plan your next marketing strategy.
What Is Digital Asset Management?
Digital asset management is a system for storing, organizing, managing, accessing, distributing and sharing digital assets. Digital assets are creative files, such as images, videos, presentations, music, and other media.
As a company executes its marketing campaign, the number of digital assets grows quickly. Without DAM, valuable assets may be overlooked when designing new creative, thus losing an opportunity for cutting costs, A/B testing, and analytics.
DAM is a centralized solution that allows all team members to gain access to the right asset at the right time.
9 Key Benefits of Digital Asset Management for Marketers
Here are the most important (but not always obvious) benefits of digital asset management for marketers.
1. Gain a Centralized Hub for All Digital Assets
Regardless of the company’s size, with time, its marketing efforts generate a formidable collection of digital assets. Each asset, from a brand logo to a presentation, demands time, money, and effort. When one of them can’t be accessed at the right time, the company loses money while employees spend precious time on reinventing the wheel.
With the right management system in place, all branded assets are stored in a centralized hub, making them readily available to all team members (unless specific access rights are in place) at any time.
2. Spend Less Time on Marketing Efforts
When it comes to digital marketing, time is money. When team members have an opportunity to access the digital asset quickly, they can speed up the review, approval, and delivery of the final marketing product.
By delivering the final files on time, marketers give the company an opportunity to outrun the competition.
According to GISTICS research, creative professionals spend 10% of their time on file management. By taking advantage of DAM solutions, a company can save as many as 1,000 hours a year (at four hours a week for each member of a team of five).
DAM allows marketers to focus on other tasks by freeing up time, thus streamlining the entire marketing effort.
3. Minimize Rights-Related Risks
With a good DAM system in place, you can keep track of old files to make sure they are still valid. This helps marketers avoid the publication of outdated, not branded, and unlicensed creative assets.
Besides improving your branding efforts, this control can help your company mitigate business risks and improve the marketing ROI.
Overall, digital asset organization allows marketers to see which creative is usable for their current efforts.
4. Increase Employee Satisfaction
Besides being highly beneficial for the company’s profitability, DAM can improve employee satisfaction.
With quick access to the necessary files at any time and from anywhere, DAM eliminates the need for time-consuming searches and asset recovery. This, in turn, allows marketers to focus on their main responsibilities and avoid manual, repetitive, and nerve-racking routines.
With the latest DAM technologies on hand, content marketing experts are free to design cost-efficient and productive strategies. Allowing your experts to do what they do best reflects in the overall employee satisfaction and workplace environment.
5. Create More Content Repurposing Opportunities
High-quality content is expensive. Coming up with a fresh piece to stick to the content posting schedule is one of the main challenges marketers struggle with. Content repurposing helps them achieve numerous marketing goals without paying for a new asset.
Digital asset management makes it fast and easy to repurpose existing content across platforms and devices, thus creating new possibilities for content marketing efforts and revenue streams.
For example, Pyxis CoCreate’s smart-tagging feature tags marketing campaign assets according to their performance. When marketing managers need to create new content, they have direct access to their best-performing assets. This can give them an idea of what works best for the audience and which existing pieces can be woven into the new content.
Mixing visual and textual elements can produce high-quality pieces of content without a significant extra effort. Quick access to digital assets simplifies such combinations tremendously.
6. Achieve Brand Consistency
Brand consistency is the key to customer acquisition and retention. Ensuring brand consistency involves carrying the same message, colors, images, voice, values, and ideas through all pieces of content across all channels.
DAM allows marketers to ensure the full consistency of all digital assets used by the company. Without such an approach, it’s easy to lose sight of improperly branded assets and reuse them for further content, thus hindering the branding effort.
7. Streamline A/B Testing
When it comes to designing creative for paid search ads, A/B testing is an integral part of the process. With all digital assets organized in one centralized hub, it becomes much easier to create or reuse materials for split testing.
A proper approach to A/B testing doesn’t just reduce marketing expenses. It also helps optimize the campaign, boost the conversion rate, lower bounce rates, and gain insight into the audience’s behavior.
8. Have Improved Analytics
Top-notch DAM solutions can generate and collect an impressive amount of data. You can learn information such as which assets are used the most, when they are exported, and who does the edits.
Powered by artificial intelligence, these tools can track the use of assets across all channels, mine data to create better content, improve ROI reporting, and much more. With these valuable reports at hand, marketers can then gain insight into their existing strategy and tweak it in real-time.
9. Create Better Creativity and Production Cycles
When all digital assets are organized and stored in one place, marketers don’t need to spend time and effort searching, recovering, and redesigning lost pieces. Such an organization helps them improve creativity and production cycles without sourcing extra budgeting options or feeling the lack of time or talent. Depending on the type of tool you choose for digital asset management, you can achieve anything from simple organization and storage to analytics, permission-based access, and new content creation. With a creative automation solution like Pyxis CoCreate, you can get a robust DAM functionality that doesn’t just keep all your digital assets in one place. It also builds a powerful brand experience, scales up creatives, creates efficient workflows, and much more.