What is it? Digital Asset Management (DAM) refers to the management of tasks and decisions surrounding the storage, retrieval and distribution of digital assets. The DAM market is predicted to grow from $2.44 billion in 2017 to $5.66 billion by 2022. This is a result of a marked rise in demand coming from the significant rise in digital assets which enable omni-channel marketing. Digital assets are defined as digitally stored content; including multi-media content such as images and animations, as well as presentations and text files. DAM helps marketers and their partnering agencies share and manage their assets simply and easily, all in one place.
By creating a single central repository for everyone, the benefits of DAM are significant: marketing efficiency, streamlined processes and brand consistency across all channels, the most compelling reasons to implement a DAM resulting in significant time and cost saving for the marketing and brand teams. Some more specific outcomes include….
- Reduce campaign production and approval time
- Automate processes for publishing to websites and social media
- Save money on file distribution between agencies
- Get better metrics on asset usage
As with many successful tech implementations, implementing DAM requires developing the right programme of behaviour change. TKM propose five must dos when looking to develop such a programme:
- Awareness – understanding and accepting that there is a need for change
- Desire – generate and garner support for, and participate in, the change
- Determination – assess the skills required to make the change
- Action – create the need, form the vision, create urgency and enlist pioneers
- Reinforcement – develop short term wins; scale these and accelerate
Recent case studies for Philips, Mercedes-Benz and Diageo illustrate the importance of DAM to simplify the omni-channel campaign process and provide better control and transparency of your Brand assets.
If you’re about to kick off a DAM project or your current system isn’t providing the value you had hoped for, we’d love to help. Please contact us at hello@tkm-consultants.com