President & CEO of https://marcom.com /" aria-label="MarcomCentral">https://marcom.com /">MarcomCentral, a leading digital asset management company helping marketers build better brands.
In light of recent events, working from home has become a norm for professionals around the globe. This new work environment has emphasized the importance of cloud-based technology more than ever. In fact, https://www.businesswire.com/news/home/20200602005578/en/MariaDB-Survey-Reveals-COVID-19%E2%80%99s-Impact-Cloud-Adoptio n" aria-label="one study">one study found that due to the impact the global pandemic has had on how we work, 40% of businesses are accelerating their move to the cloud. I've observed the same trend echoed across the digital asset management space as businesses evaluate the pros and cons of implementing cloud-based content management and storage systems.
Even before the pandemic, the DAM space was entering a period of growth and digital transformation, but now DAM providers are innovating out of necessity, driven by navigating uncharted territory. As CEO of a global marketing technology provider specializing in DAM, I’ve witnessed this drive to solve problems and bridge gaps between the office and the dining room table firsthand, and the trajectory of DAM innovation has grown through the process.
In this article, I will discuss just four of these trends that I see coming to the forefront, but the possibilities are truly endless.
Emphasis On A Simple And Sleek User Experience
This seems like a given, but you’d be surprised how easy it is to overcomplicate things under the guise of added features, thus sacrificing the user experience in the process. Imagine you buy a new car that has all these amazing and never-before-seen features. If the features are too hard to use, you probably won’t use them at all, even if you like the end result. Wouldn’t you rather have a car that makes it easy to activate self-parking?
As more marketers and designers turn to DAM to simplify their own asset-creation process, software providers need to answer the need for easy-to-use, intuitive solutions. One huge benefit of DAM is that it’s an easy way to store, create and customize assets, and that’s the way I see the industry moving as well. Software providers are (or should be) moving toward creating programs that are simpler and easier to use, thinking about how users will edit or access the files and designing around that experience.
Built-In Analytics Informing Return On Investment
This is one of those features worth its space on the screen. One of the marketer’s greatest assets is data. In a https://cmosurvey.org/wp-content/uploads/2019/08/The_CMO_Survey-Topline_Report-Aug-2019.pd f" aria-label="2019 survey">2019 survey compiled by Deloitte, the Duke Fuqua School of Business and the American Marketing Association, chief marketing officers reported that marketing decisions influenced by analytics increased 39%. From my perspective, this makes data analytics integration the next frontier of marketing software. Especially given the current economic state, marketers will need to lean more heavily on data available to them to analyze and maximize return on investment, and DAM technology plays into that equation.
DAM with built-in analytics can give marketers the tools to maximize ROI with the building blocks they already have. By incorporating insight and analytics into their software, DAM providers can give marketers everything from a comprehensive overview of which assets are being used the most versus the ones that aren’t (and in what regions) to suggestions on which pieces are frequently used together to tools that run A/B testing without ever leaving the software. With this data readily available to them, marketers will be able to create and optimize content that resonates with customers, making their jobs easier and maximizing the ROI on every asset that goes out the door. This is why I encourage DAM providers to also prioritize offering built-in analytics in their solutions.
Brand Management
Furthering the idea of a simplified user experience, advanced DAM systems should act as a central brand management platform where organizations can store all of their marketing assets and provide users freedom with control. This autonomy enables marketers to take the guesswork and fear of non-compliant assets out of content creation because they're able to create the assets they need for their individual use cases while having the peace of mind that they’re not going to distort the master branding. Plus, once assets are no longer relevant, it is as easy as removing outdated or poorly performing building blocks from the mix, ensuring nobody will create new materials with outdated, old information.
By integrating brand management into current systems, DAM providers will allow users to streamline and optimize the organization’s workflow, reputation and customer experience all from one platform. This becomes especially important as the consumer landscape is constantly evolving, with consumers having access to more brands than ever before. When potential customers are deciding between two possible brands to give their business, it’s the ones with consistent messaging across all channels (marketing, PR, online, customer service, etc.) that will pull ahead.
Keeping Up With The Technology Landscape
As technology continues to evolve, marketers will need to be prepared to pivot how they distribute content to reach users on all devices and platforms. Whether the next big jump is to wearables, virtual assistants or the next futuristic technological advancement we see, it’s vital for marketers to be ready to adapt. DAM providers should also ensure they are creating integrated platforms because these will enable marketers to create content, build and launch campaigns and understand which assets are best performing all from one application. This seamless process will lend itself well to pulling existing assets and materials into the best platform for the job.
While the possibilities of the future of DAM are endless, one thing is for certain: As the technology around us continues to advance, the need for intuitive, integrated software will be a driving force in the next chapter of innovation.
Author: Byung Choi, President & CEO of MarcomCentral, a leading digital asset management company helping marketers build better brands.