28 Digital Asset Management Statistics Every Enterprise Company Needs to Know For 2023
The global digital transformation technology industry is projected to exceed $1 trillion by 2025 and is predicted to grow at a compound annual growth rate (CAGR) of 18.58% by 2028.
But what is driving that expansion?
Well, a staggering 2.14 billion people conduct online purchases as of 2023. Considering customers spend increasing amounts of time online looking for the information they need to purchase, the demand for digital assets increases, but so do the marketing challenges.
Problems like retaining customers, increased competition, and sharing poor-quality digital assets on the wrong channels can inhibit business performance.
Successful businesses market products to their customers wherever they're at. That’s why enterprise companies create a lot of digital content for quick speed to market and channel distribution.
WHY SHOULD BRANDS INVEST IN A DAM SOLUTION?
Your latest product has no path to success if you can’t get it in front of your customers and target audience fast.
Achieving a quick speed to market means launching new products and features more quickly than your competitors. It can help develop a reputation as an industry leader rather than a follower and determine the success of your product or solution.
That said, complicated channel distribution can make delivering a new product fast to customers challenging. And putting all your eggs in one basket can halt your marketing efforts.
It’s why most businesses will combine multi-channel marketing methods using direct and indirect channels, such as e-commerce sites, social media, and company websites.
Despite that, a lack of time and resources makes it difficult for marketers to run multi-channel marketing campaigns. It’s why 61% of today’s marketers find creating a mix of digital content that appeals to different stages of the buyer’s journey challenging.
Finding out what works and what doesn’t is time-consuming. Unlimited knowledge about the benefits and pitfalls of using various distribution channels can lead you down the wrong path and investing time and effort in improper methods.
Have the right technology for a quick speed to market and channel distribution. DAM software provides robust data to find out which channel distribution works best for your brand–allowing you to achieve faster speed to market.
In fact, DAM outperforms other content creation technologies. It’s the ideal end-to-end solution for managing the entire content lifecycle from a single place.
Get your product or new feature launched quickly and have real-time data to influence future marketing plans with a simple, intuitive DAM platform.
DAM SOFTWARE DRIVES BUSINESS GROWTH
Creating content is the easy part. But having a handle on all your digital assets and ensuring everything is on brand, shared, and archived correctly takes much more thought.
It’s why a staggering number of marketing teams (94%) struggle with managing their content creation processes, according to the Content Marketing Institute.
DAM software can drive intentional business growth. Access to one centralized online platform to create, manage, share, and store all your digital assets can help you scale and reach customers–regardless of where teams are located.
Cloud-based software, like DAM, supports business growth by reducing time to market. It’s why over 90% of organizations use cloud-based software today. What’s more, almost half (48%) of businesses plan to move at least half of their current applications to the cloud next year.
That’s not all.
DAM software, such as Digizuite, can improve your entire content management lifecycle. The technology gives businesses, regardless of size, the tools they need to streamline creative workflows, improve collaboration across teams, and meet customers where they’re at.
Since 86% of retail consumers will use at least two different channels when making a single purchase, having intuitive software to share digital content with your target audience is vital.
DAM solutions deliver an omnichannel experience by having a mix of online, print, and digital formats, like leaflets and video tutorials, and offer customers a personalized buying experience.
And with just 28% of marketers saying their organization has suitable software to manage and share content with their audience, it’s hardly surprising that almost two-thirds of marketers plan to increase their spending on content marketing to scale their production.
Plus, DAM technology facilitates successful change management outcomes. Having responsive and agile software which supports change is essential to 49% of organizations.
Let’s take a shift in the workforce, for example. Remote and hybrid employees can make usual processes, like sharing files, no longer fit for purpose. DAM solutions make file sharing and accessibility across global teams straightforward, without the need to pick up a phone, send emails, or log on to a different server.
PROTECT YOUR REPUTATION
Your reputation keeps existing customers returning and new customers from buying your products over competitors.
Accidentally granting someone access to an outdated file, for example, can result in customers receiving the wrong information. DAM software features like version control ensure that everyone consuming your content consistently gets the correct information while experiencing the highest quality images, PDF files, and all other assets representing your brand.
Thankfully, DAM technologies can help to protect your business reputation by improving data security and protecting businesses from data misuse.
Nonetheless, digital assets are prone to theft, just like physical assets are.
Let’s take data breaches. Despite the apparent need for robust security, research has found that over two-thirds of company information is not safeguarded.
Morgan Stanley, the investment bank and financial services giant, paid $60 million to settle a legal claim relating to two data breaches. It was alleged they failed to protect the personal data of around 15 million existing and former customers.
DAM software can detect and mitigate certain types of attacks, including Cross Site Scripting (XSS) and data injection attacks. These attacks are used for everything from data theft to site defacement to the distribution of malware.
Feel confident that your content management efforts remain safe and secure. – protecting your business reputation and maintaining customer trust.
CREATE CONSISTENT CUSTOMER EXPERIENCES
A brand is a key differentiating factor for modern e-commerce, retail, and manufacturing enterprises. With the constant barrage of up-and-coming brands that undercut on price and customer service, strong branding can help to retain existing customers.
Multi-channel retailers with poor branding can have devastating consequences. Inconsistent messaging creates confusion and a negative image of your business – resulting in mistrust and customers heading to competitors.
Since an estimated 95% of purchases will be made online by 2040, sharing accurate product information for online audiences is essential.
That said, 45% of enterprise marketers struggle with brand consistency.
Coordinating marketing efforts across teams, product lines, and office locations can prove challenging. For example, waiting for asset approval across different time zones makes collaboration difficult.
Plus, restrictive workflows don’t give teams the flexibility to be creative and deliver consistent customer experiences. DAM software has pre-built workflows that can easily be modified to fit the way your organization works.
DAM software can build connections with customers. When users upload a new version of an asset, anyone who downloads it will get an email notifying them of a new version–crucial for consistent brand messaging.
Create a good customer experience by delivering consistent messages across multiple channels and instilling customer confidence–increasing revenue by 20%.
Help customers remember you easily and protect your brand's image.
BOOST CONVERSION RATES
Despite having a range of digital assets at your disposal, creating content that attracts the right audience and resonates with potential customers remains the biggest challenge for marketers.
Boost conversion rates by removing teams working in silos and increase operational efficiency. Empower your sales and marketing teams to quickly identify what qualifies a lead in the first place by improving internal communication.
That said, internal communication remains one of the top five challenges for content marketing teams. Customizable DAM software offer tailored solutions for every business, helping marketers reduce time to market by:
Supporting teams to work together. Build well-defined workflows to understand bottlenecks or potential blockers in channel distribution early.
Automating routine tasks. Simple automation processes save time, such as sending new assets for approval and archiving content after a given period. It’s why 58% of B2B companies plan on automating more in the future.
Reducing time spent searching, sorting, and analyzing high volumes of digital assets. Our research found that 22% of marketers spend more than an hour to find the right digital assets. A DAM will reduce the time spent searching significantly.
Automation tools, like DAM software, are proven to increase sales productivity by almost 15%. Considering workflows are unique, steps and actions that need to be taken for a particular task can be customized to meet the distinct needs of an organization.
Content marketers who have incorporated a customizable DAM platform manage their assets in 34% less time each week. Yet over half of digital marketers waste valuable resources creating assets that aren’t used as intended or duplicated because people can’t find them.
INTEGRATE WITH YOUR EXISTING TECH STACK
How time-consuming and frustrating is it to constantly switch between integrations to access the information you need?
According to the latest report, 47% of marketers agree they are overwhelmed with technology.
Finding documents on shared drives, searching for videos on YouTube, or getting hold of the latest social media carousels on Canva are tasks that can be simplified with DAM.
A DAM tool exists to solve these problems. Improve operational efficiency by investing in DAM technology that integrates with existing software, for example, Sitecore and Salesforce.
MAKE INFORMED DECISIONS
Some 48% of organizations said collecting data across fragmented systems was a main concern. It’s a problem set to be exacerbated this year, considering 42% of marketers say the number of campaigns they work on each quarter will increase in 2023–meaning workloads show no signs of slowing down.
Given that 71% of marketers want a deeper insight into how their content is performing, DAM technology provides robust data about their creative output–giving businesses the vital information they need to make informed decisions based on fact, not a hunch.
Measure metrics like speed to market and which channels outperform others. Understand your marketing starting points, strategies that have worked, what didn’t, and how your success impacts business goals. Identify benchmarks and allocate resources where it’s needed the most.
DAM software gives enterprise companies a complete overview of all their digital assets' performance. It’s why investing in customer data and real-time analytics that show the creative output are priorities for marketing teams.
CONCLUSION
DAM software, like Digizuite, gives you complete flexibility to grow and expand.
Lay the foundations for business success. Choose a digital asset management solution to ensure your content marketing needs are met now and in the future.
A DAM platform can help you:
Drive business growth
Protect your reputation
Create consistent customer experiences
Help you make informed decisions
Boost conversion rates
Ready to take the next step forward?
Book a demo today and one of our digital asset specialists will show you how Digizuite DAM can support your business.
