What Are the Benefits of Digital Assets?

Marketing your business is always a priority for finding and retaining new customers. However, when it comes to developing new marketing campaigns, do you have the right assets? Digital assets can make or break your promotional objectives, so it's imperative to have as many as possible.

Beyond these assets, you also need a quick and easy way to store and organize them in a single accessible database. So, let's break down the fundamentals of digital assets and how to manage them effectively.

What Are Digital Assets?

A digital asset is merely a piece of content used to promote your business and/or specific products. The most common types of digital assets include photos, infographics, videos, audio files, and more. They're called assets because you can use these content pieces for marketing and sales purposes.

For example, if you have a how-to video about a specific product, you can use that in your sales funnel. When a prospect sees how easy it is to use the product or how helpful it is, they may be more willing to buy it. Similarly, you can use tutorial videos to promote items to prospective leads across social media and advertising channels.

What Are the Benefits of Digital Assets?

Amassing various digital assets is a good thing, but what kind of ROI does each piece yield? Why invest in so many different options to market your brand or product line? Here are some tangible reasons why digital assets can be so valuable to your business.

• Easy to Share - Because these content pieces are digital, you can send them via email, share them on social media, or incorporate them into a sales presentation. A single asset can show up in multiple product experiences, improving its ROI with each use.

• Empowers Customers and Leads - Most digital assets examples include videos, manuals, photos, and infographics. Since most customers like to do their own research before buying anything, they'll likely interact with these assets before contacting your business. So, the more assets you have available, the easier it is for someone to look into your products and make a final purchase decision.

• Synchronizes Your Marketing and Sales Teams - In every company, there's always a disconnect between what the marketing department promotes and what the sales team sells. However, when everyone uses the same digital assets (and the information contained within them), it's much easier to have everyone on the same page. This way, the sales team isn't blindsided by a promotional offer or product feature used by the marketing department, and vice versa.

• Fosters Customer Loyalty and Retention - On average, it's cheaper to retain an existing customer than it is to find and convert a new lead. Fortunately, digital assets make it easy to cross-promote other products to your existing client base. Also, updated assets for existing products can help customers feel better about their purchases and make them more likely to promote your brand.

What Is Digital Asset Management?

Over time, your marketing team will likely develop tons of digital assets based on specific products. In some cases, one product may have many assets, including video clips, PDF files, image libraries, customer testimonials, and more. So, if you have dozens or hundreds of products, each with a list of assets, it can be virtually impossible to handle everything.

That's where digital asset management comes in. A digital asset management (DAM) system is an online server where these files and content pieces live. The purpose of a DAM program is to keep everything organized and accessible. Assets can be tied to specific products, or they can be categorized by tags (or both).

For example, you may have photos of happy customers using a specific product. Not only will these images be tied to that product, but they can be used in other promotional materials, such as commercials, ads, or blog posts. With a DAM system, individual users can find the right photo for their specific project using keywords and tags.

Another primary component of a DAM system is that one person (the digital asset manager) updates and curates the library regularly. This way, if one piece is replaced by a newer version, the manager doesn't have to update multiple servers or hard drives.

Also, the manager can dictate who has access to the system and specific assets within. For example, a third-party marketing team may be able to access assets regarding a specific campaign, but they can't access the whole system.

What Are the Benefits of Digital Asset Management?

If you're currently struggling to find specific images or videos about products in your lineup, you may realize the importance of digital asset management already. Here's a breakdown of all the ways this kind of system can improve your marketing and sales tactics:

• Centralized Storage - Rather than having individual files on different hard drives or devices, everything is stored on a central server. Not only does this make it easier to find what you need, but it also protects against hacking or accidental deletion. If someone retrieves a file, they get a copy of it while the original stays in the DAM system.

• Better Organization - Since each digital asset will have tags and keywords attached to it, it's much easier for users to find what they need. Instead of having to search for a specific file name, a user can simply type in a few keywords and get a list of assets that match. Overall, this system streamlines the entire management process.

• Automatic Updates - Another primary advantage of using an actual DAM system is that it syncs with your website and landing pages. This way, when an asset is updated or changed, your web pages are updated automatically. This process saves a lot of time and prevents old assets from being used by accident.

• Managed Access - Not everyone needs to have access to all digital asset files. A DAM system allows the manager to control access limitations for each user. This way, there's no risk of intellectual property theft or corruption of files by accident.

If you're ready to see how digital asset management can help your business, check out Lumavate. In addition to DAM functionality, Lumavate also allows you to organize and update product information (e.g., SKU numbers, dimensions, etc.) and create interactive product experiences. Contact us today to find out more.