A few statistics which caught our attention from Cella’s “2022 In House Creative Industry report” related to Digital Asset Management Systems. The stats were:
- 68% of in-house teams use a Digital Asset Management (DAM) system
- 40% of IHAs using a DAM were established 16+ years ago (which may have led to the comment, in the webinar presentation that accompanied the report, that some teams used a rather a “loose” definition of the term
- A 9% decline in assets being shared by email… (finally!)
Maybe ad agencies are different from their in-house counterparts and every agency has a DAM tool, but we doubt it.
So, in this blog let’s dig deeper into DAM systems and why they are so important for agencies.
What is a Digital Asset Management (DAM) software?
You may be wondering why we must explain what a DAM system is, but we wanted to highlight what is not DAM as much as what is. A digital asset management (DAM) system is a software program or service that helps businesses take control of their digital files.
Asset management plays an increasingly vital role in modern marketing & advertising. Teams need to publish and engage across multiple channels and platforms. Advertisers are coordinating with multiple stakeholders and working with increasingly rich brand libraries. For example, artwork for a mailshot, product photos for Instagram, interview outtakes for Twitter, and so on ad infinitum.
Without a proper asset management tool, they can quickly get lost however let’s be clear, Google Drive, your file server, or any other storage solution is not a DAM. Neither is a folder in your email!!!
There are hundreds (if not thousands) of proper DAM solutions on the market and even comparison sites that list and compare them for you. One of our favorite DAM tools is Sesimi. We like it because it also has great functionality to use the same assets for all types of creative content saving the creative team hours of laborious work.
The benefits of implementing a DAM system
The benefits of using a DAM system should be obvious to any creative but let’s just get these down in writing in case you need to sell this internally 😉
1. Improved Communication and Collaboration
With a DAM tool, all your company’s digital assets will be stored in one central location. This makes it easy for employees to find the files they need and eliminates the need for multiple versions of the same file. This can help improve communication and collaboration among teams, as employees will be able to easily share files with each other and work together on projects.
2. Easier Accessibility of Files
With a DAM system, your digital assets are always just a few clicks away. Rather than having to search through folders and drives on your computer or network, your files are easily accessible from a centralized location. This can save time and reduce frustration, as employees no longer need to waste time tracking down the files they need.
3. Greater Security of Digital Assets
A DAM tool allows you to control exactly who has access to your digital assets and what actions they can perform. This helps protect your brand from unauthorized use or distribution of your files, reducing the risk of online reputation damage.
4. Increased Efficiency
By implementing a DAM system, you can streamline your company’s digital workflows and processes. With all your assets in one place, it’s much easier to find and access the files that you need. This helps reduce the amount of time that employees spend searching for files and can help improve overall efficiency.
5. Greater Protection of Your (Clients’) Brand’s Reputation
A DAM system gives you greater control over how your digital assets are used and distributed. This helps protect your brand’s reputation by ensuring that only authorized individuals have access to your files and prevent unauthorized use or distribution of your assets. By taking control of and managing your digital files, you can help ensure that your brand remains strong online.
6. Compliance
For businesses that are subject to industry regulations, a DAM tool can help ensure compliance with laws and standards. This is because DAM systems include features such as user access control, content classification, and retention policies. Additionally, a good DAM tool will include audit logs that keep track of who is accessing files and when they are accessed.
Businesses that have benefited from implementing DAMS
Digital asset management (DAMS) systems offer a wide range of benefits for businesses of all sizes. To illustrate just how valuable these systems can be, let’s look at a couple of case studies of businesses that have implemented DAM systems and seen remarkable results.
Getty Images
At the forefront of DAM success stories is Getty Images. It’s business model is based on licensing this content to customers, which means that its digital assets are extremely valuable. To protect and maximize the value of these assets, Getty decided to implement a DAM system.
The results were impressive: Getty saw a:
- 95% reduction in the time it took to locate and distribute content,
- 75% reduction in the number of customer service inquiries related to asset management.
Adobe
Another example is Adobe Systems Inc., a software company that specializes in tools for creatives. Adobe has long been an industry leader, but it faced some challenges when it came to managing its digital assets. That is until it decided to implement a centralized DAM solution.
The results were again impressive: Adobe was able to achieve a
- 97% reduction in the time it took to find assets,
- 75% reduction in file sizes.
This led to significant improvements in efficiency and productivity across the company. Additionally, Adobe’s customers were able to benefit from the improved asset management, with many reporting increased satisfaction with the company’s products and services.
Conclusion
So, the question is, does your agency have a Digital Asset Management solution? If not, why not and when are you going to invest in one?
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