Digital Asset Management (DAM), is one of the hottest subjects trending in the global digital market, every year!
If you’re wondering what is Digital asset management and the importance of DAM, read this article to the end.
What is Digital Asset Management?
Indeed, DAM included a shared secure repository associated with rich media or multimedia files.
Often, we get in touch and interact with digital media such as images, audio and video files, game, advertising campaigns, and marketing brochures.
This digital media file is an essential ingredient of digital marketing, popularizing and gaining attention across the globe.
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When such type of digital media aspects is huge and large, required systematic structure to keep digital assets organized and centralized so they can be located more easily and used appropriately from everywhere.
Thus Digital asset management comes and is utilised especially among B2B and large businesses to store and retrieve assets from various channels.
In short, the DAM is all about creating, organising, finding, and using pieces of digital media.
Or a simpler way we can say…
DAM enables enterprises to intuitively manage and store their rich product digital assets across all customer touchpoints.
DAM Market Analysis
The latest research on the global digital asset management market reports that:
“In 2018, the global Digital Asset Management market size was xx million US$ and it is expected to reach xx million US$ by the end of 2025, with a CAGR of xx% between 2019 and 2025.”
The adoption of DAM increasing across the organization to manage and store digital assets.
Marketers from different fields with different products have raised the bar of competition, vendors are continuously trying to establish themselves in the DAM market.
What are Digital Assets?
Before knowing DAM, you should have a clear image of digital assets. Certainly, digital assets can be text or digital media formatted into a binary source and reside on the storage device.
Examples of digital assets are photos, eCommerce content, digital media, documents, audio/video files, and other multimedia content.
However, the number of stored digital assets will grow, as your business grows. It becomes difficult and time-consuming for multichannel sellers to manage and retrieve.
Securely storing, updating, managing, indexing and retrieving these assets’ data to the different web channels can be done at one single dashboard with Akeneo DAM.
Benefits of digital asset management
Quick to search
Easy retrieval when needed
Efficient organization and secure
Adaptive database solution
Data always up to date
Robust software for an Enterprise level of business
Simplify and streamline your workflow
Capacity to store high-quality digital assets
Better security and encryption
Easy to understand
Greater time to focus on other tasks
Provide a uniform image across all channels
Save time and resources
5 reasons why you may need Digital Asset Management
Despite having a quick overview of digital assets and their market growth, benefits and challenges, you should understand why you must consider DAM solutions for your business.
Here are 5 reasons why you may need Digital Asset Management:
This may a good reason to consider DAM, as it provides connections with other wide -range of software applications whether it is CMS, eCommerce integration, social media, PIM or cloud storage.
DAM software is effectively good when it saves time when managing assets across multiple systems.
For instance, if your business is dealing with products and wants to interact not only with product images but also wants to integrate those assets with the product content network.
Thus DAM can work along with product management software likewise PIM (Product Information Management).
Certainly, all the information is centrally stored and can be accessed and displayed over different channels you’re using regularly.
4. Faster searching and easy sharing
One of the main advantages of DAM is a quick search where you can search thousand of files by tagging relevant metadata associated with assets.
Tagging means you can add keywords to your audio/video files, Images, and digital assets. This keyword makes the searching process more advanced and saves you time.
Furthermore, a DAM system enables users to share multiple files even large with a secure link that can be easily accessed by the recipient.
3. Manage asset metadata intuitively
A DAM is its best provides a single location in which to manage and store a high volume of large assets. To find the product easily, the DAM system uses metadata. This metadata can be easily accessible.
Although metadata is a core value of DAM, it can make and destroy your DAM. You can better categorize by using metadata to enable all your digital assets to be searched, found and reuse across multichannel.
Metadata provides the foundation and structure needed to make your assets more discoverable, accessible and, therefore, more valuable.
2. Accessibility to reuse content
The whole idea to move to the DAM is to bring your content for repurposing. Distributing, sharing and reusing a large volume of content from internal or external is a big advantage of using DAM.
Your content will be reused in a different format for multi-channel from one source without being duplicated or reproduced.
To access the content either direct share the link of files or give access to parts of your content in a branded and protected portal.
Although if we talk about millions of assets, Digital Asset Management has grainy permission management, to control who can see, download or edit your files because those files should be protected.
1. Save time and reduce resources
Finally, the main reason a DAM is essential to the business is; Userfriendly UX and simple navigation. A difficult and complex tool consumes lots of time and requires trained support members.
You don’t have enough extra time and energy to learn again a new tool, the tool should be used for your help, not vice versa.
If you will choose an intuitive DAM, things can be quite easy and simple. This will ensure that the teams devote their precious time to more meaningful work that will directly impact your ROI.
As a result, if your business is oriented towards the sale of products or eCommerce, you must need a PIM solution with DAM functionality to edit, standardize and distribute the product content in every channel.
Moreover, we offer integration of DAM for Akeneo, discover; Akeneo DAM (Digital Asset Management) Extension