Digital Asset Management Solutions - How It Can Benefit Your Business

Let’s start with some statistics – in 2021, the market of Digital Asset Management has reached the value of $3.88 billion. The increasing surge indicates the importance of visual contents for retail from offline to online. The key to better DAM for e-commerce newcomers is to get it right from the start, before things spiral out of control and become unmanageable. For e-commerce veterans, it’s all about keeping large asset libraries usable, navigable, and easily deployable with the fewest possible moving parts through effective digital asset management. There’s no one-size-fits-all strategy to digital asset management solutions, regardless of whether you’re just getting started or have been online for as long as Amazon. Read the blog to learn about digital asset management in an e-commerce environment.

Defining Digital Asset Management

Digital asset management (DAM) technology is all about the flexibility, control, access, portability, and reporting of digital assets across organisations, customers, and third-party service providers. Digital asset management solutions are able to deliver the right content to the right people at the right time, on any device, and in most cases in real time. Digital assets can be tracked across the enterprise. A digital asset is more than just a file when viewed from a technical perspective. The value of a file can only be determined with additional information such as metadata.

Benefits of Digital Asset Management 

Automate and Streamline Admin Processes

 

Quite simply, reducing any bottlenecks and streamlining admin processes means more time to grow your business and drive revenue. With the right digital asset management solutions in place, you won’t need to spend hours locating the right file or checking that the product description is the most up-to-date version available. Facilitate and Encourage Collaboration E-commerce retailers can collaborate with team members and external partners in a secure, centralised environment thanks to digital asset management solutions. To make searching and filtering a breeze, you can use clearly defined naming conventions to tag, index, retrieve, and share your content. Communication is much more streamlined, and you can restrict and control access, distribute and update content, assign tasks, provide feedback, and work together in a collaborative space that is both creative and organised.

Add More Speed to the Process

E-commerce retailers will find this to be an excellent perk. Even when you’re introducing or updating a new product line, it’s not uncommon to spend hours on tedious tasks such as scouting for images, creating content for your site, and checking and rechecking product descriptions. You’ll be able to update your website and marketing materials more quickly, accurately, and easily if you set up your DAM library correctly the first time. Time saved can be used for social media promotion or improving email marketing campaigns.

Improve the Product Library Management

Even the most organised e-commerce business struggles to manage image libraries, especially when there’s more than one team member or collaborator involved. One misnamed file becomes a dozen over time. Documents get lost. Video footage gets archived in a place that makes sense to one person but not another. The result? Hours and hours of wasted time and plenty of hair pulled out in the process. A well-organised digital asset management solution is a time-saver to businesses. All your digital files and resources are at your fingertips. And if you want to share access, you can do so with confidence.

Lesser Errors

With or without sharing your digital assets, you always run the risk of someone using incorrect images, branded materials, or templates. In addition to establishing your company as a trustworthy and recognisable entity, your company’s branding speaks volumes about the overall quality of your product or service. Using random fonts or distributing outdated or low-quality collateral sends the message to your customers that your company does not take pride in its work. To further complicate matters, they may decide not to use your brand in the future.

Power-up Brand Recognition

Whatever it is that you sell, you want to be the first company that comes to mind for the people who buy it, and for that reason, they have to recognise your brand right immediately. With digital asset management solutions you have complete control over a single centralised database that can be used to store, organise, share, and manage all of your branded materials. This gives you the ability to ensure that the appropriate content is used at all times.

How DAM Can Play a Role in E-commerce

Brand Consistency

Customers might be swayed by even the tiniest discrepancies in a company’s image. Therefore, while exchanging product data across various retail channels, e-commerce firms must avoid creating a dual perception of their brand identity. Incorporate DAM into your e-commerce site to ensure that all of your product marketing content is consistent across all of your platforms.

Efficient Marketing

Instead of making decisions based on conjecture and supposition, use DAM to get the facts straight before making marketing decisions. With digital asset management solutions, marketing is more precise. Customers can be targeted based on their particular interests, and targeted marketing efforts can be taken. It is possible to utilise Digital Asset Management (DAM) to organise and access information for brands with a wide range of products.

Real-time data

Each change in product consumption habits may be easily tracked thanks to DAM’s data management features. Every time a customer buys a product, monitoring alerts the company about the current stock levels. In order to make educated judgments, the notification provides you with precise sales data.

Personalised Customer Support

Many clients would rather conduct business with you and have a positive experience than buy high-quality goods. The capacity of digital asset management solutions to tailor services to individual customers goes a long way toward enhancing the overall customer experience. E-commerce companies can grow their businesses by offering personalised services to their customers. When customers come into your store, they’ll know that you’re always prepared with something special for them.

The Best Practices of Digital Asset Management

The best practices of digital asset management solutions can fetch a lot of benefits for your business. What are the best practices of digital asset management? Check out the list to have an idea: 

Asset auditing

To manage the capabilities and distribution so that the assets can meet productivity requirements and business objectives. 

Workflow Planning with DAM

To help you to meet the project deadline because this will save a lot of time. 

File Hierarchy and Naming

Sorting out files would be easier with an integrated DAM system in the workflow that can increase efficiency and productivity. 

Data Analytics

Easy decision-making of identifying the gaps and fixing those based on the valuable information figured out by data analytics.  Make sure you consult a professional company for the right implementation of digital asset management solutions in your business. Ivan Infotech, being a well-known service provider can help you with the process.