What Is an Example of Digital Asset Management?

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by Lumavate | Last Updated: Jan 31, 2024

Customers today do so much of their product research and shopping online that businesses must have the assets and information readily available to provide an outstanding online experience. Creating this type of experience requires building a variety of digital assets that help to engage leads with your products and guide them to see how your business offers them the solutions they need.

With the number of different products that businesses in the manufacturing or retail spaces typically manage, the number of related digital assets can quickly become unwieldy. You want to keep all the sources of data and information for your different products organized so that your team members can quickly find what they need when they need it. To achieve that goal, digital asset management should be paramount. If you have not investigated the value that digital asset management can offer you and your business, let’s look at the concept more closely.

What Is a Digital Asset and Example?

Digital assets can take a variety of different formats depending upon the type of products you offer and how your typical customer uses them. Some of the most common formats of these assets include the following:

The variety of different types of digital assets that businesses can have means that a robust organizational system needs to be in place to keep all the information orderly and updated. Without adequate organization, you run the risk of having different assets accidentally duplicated or failing to be updated in a timely manner if something changes with the product. Team members working directly with leads or customers might also have trouble finding the resources or information they need, creating a poor customer experience.

What Is a Digital Asset Management System?

The answer to keeping all your digital assets organized is a Digital Asset Management (DAM) solution. With digital asset management solutions, you have a single platform that brings together all the different digital assets you have for your products. The platform makes it easy to store all the different types of files you have, also helping you manage and share digital files as needed.

The ability to structure and share your files will come in handy in a variety of different situations. Say, for example, you work with different agencies or channel partners. With Digital Asset Management software, you can share any digital assets they need to work effectively with you. You can feel confident that the files they use in their work are brand-approved and reflect the information that you want to share about your products. With this type of communication, you know that the experience and information your leads and customers receive are consistent, regardless of the platform on which they interact with your business.

Having a centralized system also makes it easy for you to keep the information updated. Everyone in your organization and among your agency partners has a single source of truth about all the digital assets. If you update a product video or change the specs on a specific item, you don't have to go searching for all the copies of a particular digital asset. By changing it a single time in the system, you can be confident that the new information has been shared with all the people who might need to use that digital asset, preventing errors when creating branded experiences and working with customers.

What Is an Example of Digital Asset Management?

As you start investigating all the different Digital Asset Management tools available in the market, you will realize quickly how difficult it can be to identify the best DAM systems. All the Digital Asset Management companies claim that their product is the easiest and most efficient to use, so it helps to look at some of the different companies you may encounter and what separates the top platforms from the rest.

Some of the most common DAM solutions you will find when beginning your research include:

When you look at these four Digital Asset Management examples, however, you will note that they are standalone DAMs. That means they need to work alongside a third-party solution or other agencies and developers to create full digital experiences.

Customers also note other frustrations when working with some of these Digital Asset Management companies. Specifically, Adobe is noted for having a particularly high cost and takes a long time for businesses to effectively implement. This hinders the productivity of the system. The complexity of the system also means that it may be difficult for your product teams to build the appropriate digital experiences independently; they may need to work with outside partners.

On the other hand, many businesses have elected to go with Lumavate after looking at other digital asset management system examples. Lumavate not only offers a DAM, but also includes a full Product Information Management (PIM) system and a DXP to empower companies to easily create their digital experiences. With all these components contained within a single system, customers experience seamless integration and easy navigation between the different areas. Assets in Lumavate’s DAM can be associated with product records within the PIM in only a few clicks, and digital experiences can be built without having to use any technical resources. This boosts productivity for the entire team.

What Is a Digital Asset Management Job?

A Digital Asset Manager is responsible for the overall management of the Digital Asset Management (DAM) solution. This professional is accountable for the information and assets contained within the DAM, even though multiple people may all upload digital assets and update information contained within the system. This professional will make sure the information remains updated and organized as expected.

The digital asset manager job description outlined by the company will detail precisely how this job fits with the rest of the organization and the department in which they will work. Typically, the digital asset manager job is done by someone within the marketing department, although whether there is a dedicated manager or the responsibility is simply delegated to a team member will differ between businesses.

Take Your Business Further with DAM

As you begin to accumulate all the different digital assets you can use for your products, it is time to look at the organizational structure you can use to keep them accessible for everyone. Consider what a DAM system like Lumavate can do for your business. See the benefit that comes from working with a platform that easily integrates with the rest of your asset management system, so that you can quickly and easily create the digital experiences that speak to your target audience. Get started today.

See Lumavate in Action

Meet with one of our experts to see how easy it is to centralize your product data, manage digital assets, and create digital product experiences. Trust us…you’re going to be wowed.