Download the Business Case for Digital Asset Management as a PDF 

1. What is Digital Asset Management (DAM)?

A DAM is a system that centralizes the storage of digital assets online securely. DAMs have inbuilt workflow/access protocols that give users the ability to search and download assets for their own use. DAMs are a “single source of truth” – a place where marketing professionals and network users within an organization can pinpoint and access the right version of media assets that have been created for their brand. These assets include (but are not limited to) content elements such as logos, PDFs, images, and audio/video files.

2. Why is a DAM important?

DAMs are important because the amount of content marketers need to create across an ever-expanding list of content destinations is growing fast. There are more online channels and thanks to smart Martech platforms, Marketers are personalizing their messages more which amplifies the need for more content. More content means more assets to juggle. The bigger the asset library, the more difficult it becomes to locate assets quickly – particularly if all those assets are spread out across a mix of portable hard drives and/or computers in a network. DAMs have become a central part of the content ecosystem because they solve the ‘asset juggle’ by streamlining, organising and managing assets in the one central place, getting users to the right asset quickly, and providing all the legal information around that asset (like Rights Management restrictions) so those users can create content fast.

3. How do you know you need a DAM?

You know you need a DAM when:

• You’re spending too much time hunting for assets across computers and portable hard drives

• You’ve got assets in a variety of locations in your network and no capacity to search

• You and your Marketing team are flooded with asset requests

• You’re noticing there are multiple asset versions and duplicates mounting up

• You’ve lost control of your brand compliance

• You’re having trouble sharing large files over email.

• You’re struggling to keep up with the Rights Management of assets

4. How do you justify getting a DAM?

A DAM will increase the productivity of your team, get your message into market faster and pay you back quickly following an initial investment in the software platform. There is considerable empirical analysis of DAMs in the marketplace - the following is typical of the research findings into how DAMs benefit businesses:

A. It will boost productivity by at least 30%.

Research shows that marketing teams waste almost a day a week hunting for assets - a DAM gets that time back and can improve productivity by a massive 30-35%.

In their landmark research paper ‘The Social Economy: Unlocking value and productivity through Social Technologies’ the McKinsey Global Institute found that such technologies (which includes software like DAMs) have the potential to raise the average productivity of marketing professionals who search for and gather information – the realm of a DAM - by up to 35% and claw back almost a fifth of their working week.

In a paper delivered to the ISTC (UK) conference in 2012 by GISTICS Research, it was found that creative professionals spend an average of 1 out of 10 hours of their time on file management each week. Searches alone account for a full third of that time.  

GISTICS also reported that the average creative person looks for a media file 83 times a week and fails to find that asset 35% of the time - a DAM solution will reduce that figure to 5%.

The math is compelling.

Whether you’re a Marketing professional or an Advertising creative, the search/find productivity benefits are relatively similar.

If we choose an arbitrary pay rate that sits somewhere in both camps – say, $100 an hour – and work on the assumption that 4 people are directly involved in asset hunting (this could be significantly more for larger marketing/advertising teams), the savings are significant:

B. It will get you to market faster.

Research shows that a DAM will shave around a quarter of the time it takes you to
get to market.  

Independent fact-based industry research organisation Aberdeen Group found that ‘best in class’ companies reported a 23% year over year reduction in time to market by using a DAM system.

Why is speed to market important? Because if your competition is beating you to market, they’re reaching not only their customer base first, but yours too. Basically, you’re giving them the chance to dominate just by being absent. Even if their product isn’t as good as yours, customers will likely go with your competitor because you’re simply not in their line of sight.

By using a DAM, you can bridge that gap, giving you greater versatility to adapt your message for the market, personalize your message at scale and be a ‘thought leader’ in your industry. You might even win over some of your competitor’s customers by being out there before out there first.

(Ian Michaels, 'The Marketers Guide to Justifying Investments in Digital Asset Management', AberdeenGroup Research Report)

C. It represents a significant return on investment.

Research indicates that the payback from a DAM system can range between seven to 15 times its costs. Most savings from digital asset management come from time saved.

This is particularly critical in times where marketing budgets are tight. It’s at these times that you need additional financial resources to allocate to generating additional content creation and purchasing media options to compete. A DAM pays you back fast, delivering those financial resources in spades. But the benefits go beyond dollars saved. DAMs save huge amounts of time for you and your team - time that can be used to explore new marketing strategies, fine tune the efficiency of your team and improve your acquisition metrics.

And that’s just the start. A DAM opens the door to even greater savings.

The benefits of putting an industry leading DAM into your business are clear. But there is significant potential to capitalize further on your DAM by pairing it with a system that can automate your content production.

Dynamic Content Creation platforms or Automated Ad making systems are ‘content creation engines’– that take approved ad agency concepts and roll campaigns into brand compliant templates that are accessible via a user-friendly interface to approved users in a network. These platforms use editable templates that lock down branding, providing network users with the ability to create and modify their own advertisements at negligible cost. Because the Dynamic Content Creation platform is paired with a DAM, brand compliant and rights managed assets are called on seamlessly and quickly to develop content for the end user.

Once the editable creative is loaded into the system, users are then able to browse the templates (including press advertisements, digital ads, television, video, point of sale – even Social media) to create their own, on-brand content in a fraction of the time an agency would take.

Basically, this content ecosystem (the Dynamic Content Creation platform and the DAM) completely replaces the expensive, antiquated ad agency production model, delivering enormous cost savings and saves huge amounts of time wasted by marketing teams having to organise/edit/approve network advertising.        

Pairing a DAM with a Dynamic Content Creation platform - the bottom line on the ultimate marketing game changer.

The following Case Studies illustrate the vast organizational and financial benefits of using the MyAdbox Dynamic Content Creation platform in tandem with the MyAdbox DAM.

Case study #1: Premium Automotive client – 40 network locations

Overview: Prior to working with MyAdbox, this Premium Automotive Manufacturer invested heavily in providing a spectrum of creative advertising content to its dealer network. Despite the array of advertisements produced by their agencies, there was little flexibility or capacity for end users to make alterations or additions to suit their local area marketing needs. Typically, dealers would download static assets and recreate the advertisement to suit their own requirements – weakening the brand.  

This Premium Auto brand:

• had no transparency as to what content was being used or downloaded by the network

• had no ability to protect the premium brand position as it could not control how it was.         being applied into the local markets by their dealer network

• had no approval processes in place

Outcome following engaging with MyAdbox Brand Management Software:

1. Head Office now has complete visibility around network marketing

2. Head Office now has complete control over Brand Compliance on material produced via the         MyAdbox system. Their premium brand is now protected

3. The MyAdbox system now provides watertight approval processes for the entire network

Financial analysis from 12 month period after engaging with MyAdbox:

Cost reduction for development of dealership advertising material across the nation using the MyAdbox platform: 96.3% (Based on average ad agency production cost to the same network in previous 12 month period of $2,155,140)

Case study #2: Mainstream/mass market Automotive client – 230 network locations

Overview: Prior to engaging MyAdbox, this large Automotive Manufacturer distributed creative advertising material for network use in a relatively haphazard manner with little control over brand compliance at the end user level. An internal portal was used to distribute an ever-increasing body of high cost advertising resources with little to no controls around network usage or material application. Typically, local users would download the assets available, then redistribute these to a local agency supplier to reformat for their local area marketing needs. Apart from adding extra costs, it would often result in a serious dilution of the brand virtues.

This mainstream/mass market Auto brand:

• had no transparency around what content was being downloaded by its relatively large network

• was unable to control brand compliance within local markets

• had no formal approval processes in place to ensure material was correct

Outcome following engaging with MyAdbox Brand Management Software:

1. Head Office now has complete visibility around network marketing practices

2. Head Office now has complete control over Brand Compliance on material produced via the.         MyAdbox system and locally created ‘uncompliant’ material has dropped to negligible levels

3. The MyAdbox system provides fast and watertight approval processes for the entire network

Financial analysis from 12 month period after engaging with MyAdbox:

Cost reduction for development of dealership advertising material across the nation using the MyAdbox platform: 99.6% (Based on average ad agency production cost to the same network in previous 12 month period of $7,208,775)

The final word on DAMs

Whichever way you look at it – from Brand Compliance, workflow efficiency, productivity metrics, speed to market, time savings to pure cost analysis – a DAM is the only way forward for organizations that are serious about their marketing.

Modern Marketers are keenly aware of the huge drive for getting more content into market faster – the exponential growth in online media options is not likely to stop. It’s the future. A DAM solution (ideally paired with a Dynamic Content Creation platform) is crucial because content requires assets and assets are only valuable if they can be located and shared.

Value is not something that is uncovered by chance. It is generated by endeavors driven by strategy and purpose – and managing your content and data with precision is central to these endeavors.