When do you need a Digital Asset Management system?
Understanding when your organization needs a Digital Asset Management system can be a simple calculation on how much time can be saved, or how much risk you can mitigate. Unfortunately, most organizations don’t track activity and efficiency with image, video, brand and other digital assets. If they did, they would be astonished at how inefficient their management is over such assets.
In the absence of such information, we suggest using the following questions to help you understand the value of a Digital Asset Management system for your organization.
How much time does your team spend searching for images, video, brand and other digital assets?
From social media to websites, presentations, displays, videos and anything with a brand, your team increasingly depend on digital assets to communicate with both internal and external stakeholders. The right Digital Asset Management system can reduce search time by as much as 85%.
How many of these searches are unsuccessful or unsatisfactory?
Industry research indicates that without the right Digital Asset Management system, as much as 30% of searches for digital assets are unsuccessful. If you are using a file management system or simply folders or libraries on multiple devices, this should come as no surprise.
How many assets are lost?
This happens more times than organizations’ like to admit. Digital assets are created at great cost, then incorrectly stored, or stored on devices that fail. No backups are kept, and the assets are lost for all time. Often files are only discovered to be missing when you need them most. This can all be avoided with the right Digital Asset Management system, hosted in the Cloud.
How often does your team end up using a lower resolution file, because the original is lost or undiscoverable?
On the surface, solutions like Dropbox or other file managing solutions seem fine. Once you find yourself trawling through folder after folder, it soon becomes obvious such solutions fall short when it comes to larger collections of digital assets. This problem is further compounded when it comes to multiple versions of the same digital asset. The right Digital Asset Management system can solve all of this.
How much time and effort is wasted because the wrong or an old version of a digital asset is used?
The ease at which multiple versions of the same digital asset can be created is both a blessing and a curse. Confusion is commonplace. The wrong version of an image, video or brand asset is made public. The damage can simply be an embarrassment, or something much more devastating. The right Digital Asset Management system helps manage version control.
How many valuable digital assets are underutilized?
This is one of the major concerns of Marketers worldwide. Most Marketers are looking for ways to better utilize the images, videos, brand and other digital assets they have created. They need to justify their investments and the easiest way to do this is to use these assets over and over again. If you have invested in photo shoots, video production or engaged designers and advertising agencies, you may have the same concerns.
The problem is the libraries of assets you have created are underutilized because of visibility and accessibility. If you can discover and see a digital asset through simple and intuitive searches from anywhere, and you have approved access, then you will use them much more. The right Digital Asset Management system provides you with a ‘single source of truth’ for all of your images, videos, brand and other digital assets, enabling increased and accurate usage.
How often is a stock image used that is out of licence?
You may have stock images and videos on your website. You could be accidentally using them on social media. They may exist in PDFs or Microsoft Office or other digital documents and presentations. Quite innocently your team may be using stock images and videos you no longer have the right to use. You may even be using stock images and videos in ways they were never licensed. With the proliferation of technologies used by stock libraries to reveal misuse, you may be exposing your organization to potential legal action. The right Digital Asset Management system can help regulate and manage the use of stock images and videos in your digital applications.
How often has your team used an unauthorized image or video?
Stock images are just the start of this problem. If you’ve engaged a photographer, videographer, designer, in fact, any content creator, you have the responsibility to manage usage rights.
A photographer might place restrictions around how long an image is licenced. If there are talent or locations in these shots, restrictions on usage and licensing duration almost always apply. The same can apply to any digital content. The right Digital Asset Management system can help regulate and manage usage rights and help you mitigate risk.
How often has your team used a digital asset you have not approved?
More often than not, misuse of an image, video, brand or other digital asset is entirely innocent. It is caused by a lack of approval processes and role-based access. The right Digital Asset Management system provides a reliable approval workflow that can be mitigates this risk.
What is the right Digital Asset Management system for your organization?
Start by using this list as a checklist against any Digital Asset Management system you are researching. Prioritize what is important to you, your team and your organization. Most importantly, invest in a system with a proven track record. One that is used by an organization where their survival depends on how they manage large content libraries. If you're looking for a start, explore Lookatme™ more.