Alexander Rich, Co-founder and CEO – Desygner
Rapid digital transformation fuelled by the pandemic has undoubtedly proven beneficial to overall business outcome. However, today we are witnessing the age of hyper-digitalisation. With user or employee generated content exposed to multiple channels of distribution, monitoring content that is authentic and on-brand is becoming an increasing challenge and threat to brand image, authority and identity. The present day branding team has a mountainous task to create, streamline, and monitor a huge number of branded files each time costing businesses a large amount of time and money.
According to a report by SkyQuest, the global digital asset management market was valued at USD 3.68 billion in 2021, and it is projected to attain a market value of USD 9.32 billion by 2028 at a CAGR of 14.2% over the forecast period 2022–2028.
Businesses are warming up to the concept of digital asset management (DAM). However, it is important to have a clear understanding of a DAM system to assess its significant impact on business. Let’s examine closely as to why DAM is an impeccable one-stop-solution for enterprise brand management.
What is a Digital Asset Management system?
Digital Asset Management (DAM) system is a centralised repository of visual files which includes, branding files, images, audio/video files, graphics, templates or any form of branded documents that are made easily accessible to anyone within the network of users. DAM tools are designed to achieve maximum business efficiency for creating and sharing of branded assets that are on brand and compliant to brand governance. Advanced smart DAM systems also offer AI driven intelligent features including animation, printing and multiple linguistic translation. With the help of a DAM, users can effortlessly share huge files, resize and format their media, track usage patterns, and manage any digital file.
Increased Business Efficiency Cost and time effective
With organisations adopting remote and hybrid working models, access to information and company assets can be a huge challenge. Plus, with hyper automation, businesses are evaluating for better resource allocation and reduce the production cost for speedy delivery and enhanced customer experiences.
DAM enables an ecosystem within an organisation which breaks inter-departmental silos. With an ideal digital asset management system, branding teams can create and store complex design assets with inbuilt restrictions for compliance while employees with no-designs skills can access pre-approved branded files with quick turnaround time to share with customers. Investing in an effective DAM system can bring 100 times the ROI for businesses saving not just valuable time and cost.
Brand management and Brand Governance
The volume of user generated content (UGC) disseminated globally with real-time personalisation is driving organisations to look for solutions that help them lead and control corporate branding while at the same time eliminate roadblocks of brand design and marketing bottleneck. With the adoption of DAM, employees can work with pre-approved ready to use assets cutting down dependency on design teams for a multitude of alterations in designs and templates. This means empowering employees to custom create pre-approved branded content that can be adapted to the local language & markets for specific business requirements – be it for sales, HR, marketing or social media promotion. Also, unlike the older version of asset management system which doesn’t allow control over utilisation, an advanced DAM notifies users of newer versions of templates every time restrictions are established by the admin. And since these assets are pre-approved and on-brand, each touch point of communication with users, partners, vendors and social media by employees can be used to promote brand advocacy.
Updating Legacy files:
With the multi-channel communication across a dynamic tech landscape and geographies, the ways and format in which we use branding assets have changed drastically. Many organisations today find themselves using outdated files that are no longer synchronised to the current tech landscape. Which means, these files are no longer usable for sharing in social media, emails or any visual formats. Not just that, the bulk of files that are outdated seem like a mammoth task for the design teams to individually update. Now imagine that, with a DAM in place, brand managers can choose the latest features and compliances to update all branded files with just a click of a button. Within seconds, the outdated files are updated and are ready to use saving time and cost.
Security & compliance:
For any business, information management and security of critical assets is an absolute priority. Streamlining content management with a centralised DAM system to control, regulate and monitor content can ensure safe sharing of content that is compliant and in line with company branding policies each time. A DAM system can control access and trace every single iteration to assets thereby limiting breach against content malpractices.
Conclusion:
With marketing automation taking a centre stage in an increasingly UGC landscape, DAM has a significant role to play in enterprise brand management to both increase productivity by minimising operational silos and empower businesses to promote brand advocacy.
