They discovered that many companies shied away from using DAM software in the past as a result of bad experiences or the inability of such digital asset management tools to provide adequate solutions to marketing in distributed environments. Recently, however, more companies, top performers included, have begun to realize the benefits and solutions that DAM tools can provide. The improved capabilities of DAM, and the subsequent realization of this by companies, is related to DAM having evolved from acting as an asset repository to software as a service that provides effective marketing asset management.
According to Gleanster findings, the three biggest reasons that top performers give for implementing marketing asset management are:
1. To improve marketing cycle time – Companies need to be ready to immediately react to sudden changes in consumer dynamics that routinely occur as a result of social media.
2. To increase autonomy without sacrificing control over local markets – Companies need a means of giving local representatives a certain degree of autonomy while maintaining control over branding when working in distributed environments. DAM allows them to accomplish exactly this by providing centralized control over assets.
3. To augment marketing relevance and personalization – Social media has given customers more power than in the past because they have the opportunity to discuss products.
Other findings include:
Companies maximized the value of their investment in marketing asset management in various ways, but the three most important were:
1. Ongoing support and training – Employees need to be shown how to effectively use the DAM system for it to demonstrate ROI.
2. Better communication among local and corporate marketing teams – This helps all players discover the best way to effectively use the DAM system as a team.
3. Standardization of customization procedures for corporate assets – Done to improve branding.
The three most important challenges faced upon implementation of a DAM system were:
1. Finding a balance that meets the needs of both local and corporate marketers – Each type of marketing team has different objectives.
2. Implementing a centralized tool at the local level – Local marketers tend to view corporate based tools as a hindrance rather than a help.
3. Resistance to change – People are hesitant to learn to use new technologies when they are already familiar with another system.
The three top metrics of performance were:
1. The amount of agency spend – Knowing how little was spent by marketing after using the DAM system provides a good argument for ROI.
2. Production costs – DAM can help companies save on production and printing costs because this can be done in-house instead of paying an agency to do it.
3. Annual revenue – More revenue is generated by marketing assets used within marketing asset management systems. DAM can help companies assess revenue generated by assets.