Understanding digital asset management

Imagine you just witnessed the best video you’ve ever seen. A few days later, you’re having coffee with a friend, and you tell them they’ve received to watch the video. You search YouTube; however, you can’t consider the actual title.
In fact, it might not even be on YouTube. Was it on Tumblr? It was once Facebook. But which group? No, Reddit. But which one?
Now imagine your company’s entire branding campaign rests on that video. If you can’t locate it, it will be a disaster.
Many companies have their text, pictures, videos, audio, media assets, and other digital property just floating around. When crunch time comes, they can’t locate what they need. But there may be an answer to this chaos: digital asset management (DAM).

What is digital asset management?

Digital asset management means taking all assets critical to your company and storing them in a single location.
A digital asset is any piece of digital content, plus the metadata that explains what it is and how to use it. A digital asset can be a text-based digital file, sound file, picture, video, interactive media, or multimedia.
Management, in this case, refers to information management. This is the act of cataloguing and storing facts in a safe location so you can locate them again later. While asset management is as old as a business, digital asset administration is an evolution.
A vast range of offerings fall within the umbrella of a DAM system. This includes acquiring digital assets, organizing them, cataloguing their metadata and protecting them.
These days, “digital asset manager” refers to DAM software as well. The easiest digital asset administration software handles databases. Some more effective apps can automate storage and retrieval, or let managers edit digital assets in the database.

Security aspects are necessary since many digital assets are proprietary. Some databases enable managers to promote digital assets to customers.

As digital property becomes important in each industry, there’s a growing demand for digital asset management. It needs to be more customizable, adaptable, and user-friendly.

Before we get into use cases, though, let’s tackle another question: why exactly is all of this so important?

Why is digital asset administration important?

The digital asset management market made $2.96 billion in 2020. By 2026, it’s predicted to be worth over three instances as much.

So, where is all that demand coming from?

Simple: it’s well worth it.

A high-quality DAM can save organizations money. Poor asset management restricts growth, but precise asset management can propel it forward.

Suppose you pay an employee $25 per hour. That worker spends 8 hours creating a piece of digital content material for your advertising and marketing campaign. They store it on their hard drive or USB, then go home for the weekend.
On Monday, you find out that a surge fried that employee’s computer. The digital content is gone. They must spend another eight hours recreating it and rebuilding it from scratch.

The $200 you paid them to create it the first time goes to waste — a consequence of bad digital asset management. With a central database, you could have retrieved the misplaced asset before finishing your coffee.

Even without one-off disasters, failing to centralize your property can cost you dearly.

Very few agencies can get through blocking online content these days. The more an agency grows, the greater content material it places into circulation. All this content material needs to keep brand consistency and accuracy.

It’s referred to as the digital bottleneck, and it’s like a lead weight for growth.

Without digital asset management, your capacity to investigate content is severely curtailed. Either you limit the amount of advertising you can do, or you’ll put out something embarrassing. Like a video that names the incorrect year, or an infographic so low-res it turns into a meme.

And when the entirety is going right, you’re nonetheless slowing your operations down. Your creatives are caught answering requests for digital assets rather than actually creating.

The requests come from other creators, other teams, partners, and clients.

Wouldn’t it be easier if everyone got their stuff from one location? And were aware of the company’s latest branding strategies?

This is exactly why digital asset administration is important.

There’s one extra aspect we must mention here: security.

When your corporation relies upon on intellectual property in the structure of digital assets, cyberattacks signify an apocalyptic chance to your bottom line. These attacks can even come from inside your team.

Yet Varonis reviews that 64.3% of all agencies have over 1,000 digital files that any employee can freely access.

A digital asset management machine isn’t simply a library. It’s additionally a vault. With the right manager, you can enjoy the reassurance of backing up your digital belongings on the cloud, besides worrying about a workable hacker getting at them.

What are some examples of digital asset management?

If you’re no longer sold on digital asset management, we’ve gathered seven use instances in this section.

Read on — chances are at least one of these applies to you.

1. Centralize all your branding

In the remaining section, we described an agency with a creative staff too busy to do their jobs. How may want to they get to that point? Through a collection of choices that all appeared like proper ideas at the time.

The people creating digital assets must also comprehend the place they’re saved, and which ones are up to date. They’re the natural people to ask. But in practice, this ability they spend most of their time digging for digital property or metadata other people need. By storing all the most necessary elements of your company in a specific location, you can streamline your content creation lifecycle.

When anyone is assigned to construct a digital asset, they’ll have all the beginning elements at their fingertips. This saves time and makes certain you preserve brand consistency.

2. Support the sales team

Like all your client-facing operators, your sales team desires to get access to digital assets to do their jobs. Brand assets can capture leads, grease the wheels of meetings, and get prospects off the fence.

Through our Work OS, you can add hyperlinks to your digital asset storage, monitoring briefly which income reps are working with which assets. That way, when an asset or its metadata wishes to be updated, you can instantly inform each rep that needs to know.

3. Help your customers

Digital assets aren’t simply for marketing. They can also promote better customer experiences. Digital text, images, audio, video, and wealthy media assets can assist new customers through onboarding. You can furnish branded tech aid and introduce them to new aspects they might want to upgrade to.

If any of your customers can to benefit from digital assets, hyperlink to them in a new column. Now their account supervisor can get at them with a click.

4. Help with video content production

Video content material is popular lately. It also takes a lot of time — unless you have a system in place to get it completed fast. Branded movies vary in how difficult they are. One advertising and marketing team would go for full-on movie productions. Another marketer continues it simple so customers can watch on their phones.

Either way, you choose branded belongings in the video. That skill logos, links, infographics, tutorials, and more.

Digital asset administration cuts down on the time it takes to produce a video with the aid of putting the factor components at everyone’s fingertips.

5. Automate content material deployment

Remember the content material planning template we confirmed your lower back in use case one?

Here’s how it works:

  • When you’re finished growing or updating a digital asset, store it in the database where it belongs.
  • At the scheduled time, the content material calendar automatically retrieves it and posts it to your website barring you lifting a finger.
  • That’s what we mean by a custom DAM system. Pretty cool, right? Content deployment is an overlooked aspect for creative teams. By automating it, your creatives can get greater hours in their days.

6. Get omnichannel analytics

One of the exceptional matters about digital asset management is that it’s not just about information flowing from you to your customers. That records additionally flows returned to you.

That potential you can track how well each one is doing — in views, interactions, successful conversions, or other metrics — from a central location. You can construct data-driven advertising and marketing campaigns that maximize returns.

7. Protect sensitive assets

Don’t read us wrong; cloud storage is a dream for most online businesses. But it can be a nightmare if you approach it carelessly. monday.com uses uncrackable AES-256 encryption to everything you keep on our platform.

What is the core of digital asset administration software?

We’ve been citing monday.com a lot, due to the fact we’re kinda proud of it… We knew early on that we couldn’t make the best DAM software program. This is due to the fact “best” is different for everyone. Instead of attempting to force a workflow onto you, we’ve handed you everything you need to make your own workflows.

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