Companies that top the rankings for their respective class in terms of ROI, sales, and growth increasingly share something in common; foresight and innovative thinking that encourages them to adopt the types of tools and strategies needed to leap far ahead of the competition in a business atmosphere increasingly governed by technological advances. The ability and courage to adapt to scenarios vastly different from a decade or two in the past allow such companies to be ranked as Best-In-Class. Contraringly, companies that stay mired in the false promise of outdated methodologies typically fall under the appropriately named “Laggard” category for their class.
A 2010 report released by the Aberdeen Group, Marketing Asset Management - It's More Than Just An Image, demonstrates the tendency for Best-In Class companies to be more innovative and able to recognize and use new technologies that work in their study of marketing asset management. The increasing importance of using Marketing Assessment Management as part of DAM Asset Management as well as its value is telling in that more than a third of Best-In Class companies have made centralizing digital asset approval and management a priority of their marketing strategies. Compare this to only 24% of Average and Laggard companies.
According to the Aberdeen report, as opposed to Average and Laggard companies, Best-In-Class companies also prioritize capturing marketing content from a wide variety of sources rather than putting much of their marketing resources towards speeding up the capture and release of marketing assets. The actions of Best-In Class companies in this case would seem to be counter productive (and they would be if they weren’t using DAM) but instead of working from an increasingly outdated perspective that less successful companies follow, Best-In Class companies realize that marketing assets are actually distributed and disseminated more widely and efficiently when using Marketing Asset Management tools.
This is because marketing asset management as part of their digital assets management framework allows them to actually distribute and disseminate marketing and sales materials in such a broad and expedited fashion that they no longer need to place such a high emphasis on quick capture and dissemination of materials. The centralized and easy to use aspects of digital media asset management such as the Software as a Service products available through Widen encourage users to upload and share a wide variety of sources that can then be quickly reviewed by a number of people no matter where they are working from.
Quick and efficient communication among sales representatives and marketing groups can then be used to determine which materials work best for which niche as well as materials that merit deletion because they don’t work at all. Overall, this is far more efficient and results in a higher degree of sales as opposed to putting an emphasis on quick dissemination of materials created with less input.