Is your digital asset management strategy working for you?

The first step in adopting a digital asset management strategy is identifying your specific needs. These include business goals, resource limitations and any existing solutions that you might already be using to store or manage assets such as files, videos and pictures.

Consider these to ensure a successful digital asset management strategy. For example, you must figure out how you will handle workflows and ownership in your system. 

Also, study the taxonomy of assets within your system so users can find what they need quickly and easily with one simple search function. 

Finally, it’s pivotal to measure progress and user adoption rates when implementing an enterprise-wide digital asset management solution.

Key takeaways:

• Why a digital asset management strategy is a critical part of your business

• Successful digital asset management uses the same best practices to provide an effective system

• Leveraging your company’s assets more effectively will help your organization grow and give you a competitive edge by leveraging metadata and brand consistency

Why it’s vital to manage your digital assets

A digital asset management strategy is an important part of your business. Organizations use them to store and share images, documents, videos and other content online with employees or customers. The most common digital asset stored in a system is images because they take up a lot of space. Some businesses choose not to use one at all. However, this is not a very efficient way to do business.

In the above video, you learn the basics of the digital asset management system, discover how it can help you run a more efficient business and provide a better customer experience. 

The market for employing asset management software is growing. Experts project the market share to reach $5.287 million in the next two years, a compound annual growth rate (CAGR) of 13.7%. 

As more organizations recognize the value of digital asset management deployment, the market will become more competitive. 

To stay ahead of your competition, ensure that your digital asset management strategy is working for you. 

What a successful digital asset management strategy looks like

You need a coordinated approach to manage your digital assets. Without that, it’s challenging to know what assets you have, why they exist and how and when to use them. Here are some of the attributes of a successful digital asset marketing strategy:

Strong leadership 

You must have strong leadership when initiating a digital asset management project, but it can be challenging for managers who are not as invested. 

Marketing teams must see the company’s leaders believing in this initiative and putting their weight behind such efforts. That way, everyone will understand its importance more easily without feeling stressed about being involved from the get-go. 

Efficient library  

A centralized location like a DAM where digital assets exist is vital. Mislabeled or misfiled documents means an employee must stop what they are doing to ask for a file location. This mishap is a waste of their time. It also wastes the time of the person they had to stop to ask.

By creating an archive of assets, you can reduce the frustration of misplacing or losing files. This solution keeps everyone on task and focused on implementing digital asset management best practices. 

Clear catalog parameters 

A general storage hub for your digital assets is good to have, but that’s only half of the battle. Establish clear guidelines for your brand on how those assets will be named, stored and used.

Utilizing a universal labeling system by setting clear catalog parameters ensures digital assets are easy to find and use. That way, employees are efficient and can complete their tasks without issues.

It will also make it easier for customers to navigate your site without frustration, ensuring a positive customer experience. Nearly two-thirds of companies are beginning to implement these strategies for production, management and retention of media assets customers will access.

Your entire team is on board 

People who want the project to succeed are more likely to have a vested interest in it. Involving team members from all departments is essential for a successful digital asset management strategy. 

That means including those focused on customer loyalty, graphic designers and marketers who have access to assets like logos or graphics. The more people you get on board, the better your chances for success. 

Everything is up to date  

While companies want to keep current digital assets accessible for clients, they also hold onto outdated items. Antiquated data clutters available space and resources, making it challenging to find content when needed.

The benefits of digital asset management systems are finding what you need, so current and archived files must be appropriately located. It can take up valuable space and slow down search efforts if unnecessary files clog your system. 

Security must remain a priority

Whether it be smartphones, computers or desks, they all have value. For that reason, it is just as essential to protect them from harmful agents like water and fire damage. 

Your company’s digital assets are just as valuable. Do not neglect their security either. 

You should have a multi-layer protection strategy in place that keeps hackers out and grants authorized personnel access to essential files. A swift response to data breaches is also critical.

Leverage the full advantages of digital asset management 

Digital asset management is essential for the success of your brand. For example, hospitals manage their digital assets to ensure HIPAA compliance. That is just one way digital asset management does more than give companies an edge over their competitors. Whatever your industry, there is a tremendous advantage for leveraging a digital asset management strategy.

Never stop growing! Have the maximum advantage of the most effective digital asset management tool.