How DAM Enables Powerful Omnichannel Retail Experiences
When was the last time you didn’t use your phone when shopping online?
Have you ever stumbled upon a brand on Instagram, and then continued searching for something to buy from their website on your computer?
Or, did you go to their physical in-store location?
Studies show there’s a 30% higher lifetime value for customers that are able to buy things from a brand from multiple touchpoints, both physical and digital.
The habit of switching between devices is at the root of what we call a brand’s omnichannel experience, in which you’re able to seamlessly transition between one channel to another.
Why should retail marketers care about this kind of behavior?
It’s because 60% of consumers will stop shopping with a brand that doesn’t deliver the experience they expect.
What happens when you do deliver on their omnichannel expectations?
Consumers spend more.
In fact, omnichannel marketing strategies have shown to help companies retain 89% of their customers, compared to companies who don’t embark on the omnichannel route.
But here’s the thing:
While 87% of retailers view as highly important to their business…
…only 8% of retailers feel like they’ve successfully implemented and succeeded with omnichannel.
Why is there such a gap between those retailers who implement that strategy, and those who actually reach omnichannel success?
In this article, we’re looking at how a tool such as digital asset management can be used to leverage a more powerful omnichannel retail strategy for your business.
What is omnichannel retail and why should brands care?
Omnichannel retail applies the omnichannel philosophy to a typical retail brand or store.
Through multiple channels, platforms and both physical and digital interactions, retailers are able to engage with their customers in a way their customers prefer to be communicated with.
Single channel strategies alienate shoppers that prefer to buy omnichannel.
And this is key – because 73% of shoppers identify as “omnichannel shoppers”:
Omnichannel retail puts customers in full focus:
When they switch from channel to channel, from in-store to native mobile app - the brand experience is the same and in tune with each other.
At its core, omnichannel retail is all about delivering a unified experience - no matter if it's the retail platform or if it's the distributors.
And in return you get:
An improved understanding about your customers
An increase in customer loyalty
An increase in repeat sales and lifetime value
The bottom line – higher revenue growth.
To help you achieve your omnichannel retail goals, you’ll need to leverage the right technology.
How Digital Asset Management Empowers Omnichannel Retail
New to Digital Asset Management (DAM)?
A DAM platform is a digital vault where all things regarding company assets are located.
It enables all users to manage and distribute content from a centralized hub, so that an organization has all their brand profiles, product information, photos, 360-degree images and videos in one place.
Another benefit:
DAM’s easily integrates with existing mar tech, such as Sitecore, Optimizely and Adobe Creative Cloud.
While DAM platforms are often used by large retailers to manage their content at scale, it can also be used to empower an omnichannel retail strategy. Here’s how.
Makes sure content is on brand, and in one place
A retail omnichannel strategy would be nothing without product photos, videos and various content moving across channels and devices.
Think about the customer journey – stage, touchpoints and channels:
It’s messy, right?
A DAM system is a central archive in which all your campaign assets are located and controlled, ready to be edited, shared and distributed.
This allows all users to easily see which assets (i.e. product images) are relevant and approved, and then understand which assets go with what campaign.
No matter if they're in the brand’s local time zone, working remotely in another country - all assets available have been evaluated so all users can be sure that they’re using the right ones.
We all know that the most meaningful and important interactions we have with our customers start with the right content.
A DAM ensures retailers and their respective marketing teams that the brand message given online, in-store and in fashion shows is the exact same, as the content used in all locations already has been approved and can only be found in one central “source of truth”.
Escalate your content strategy consistently across all channels
A DAM tool empowers your omnichannel retail by helping you efficiently scale your content strategy.
45% of enterprise marketers struggle with content consistency – especially when it comes being consistent across channels and brands.
The best omnichannel strategy makes sure a brand’s content is consistently being delivered across all channels. A DAM will not only take care of your content, but it will also help you deliver the content much faster.
It’s no easy job to deliver high-quality content across multiple verticals, different channels and different locations.
But digital asset management tools will help you get there by:
Easy search for assets: DAM will help you find the approved assets you need faster (and more efficiently) so you spend less time searching, and more time delivering.
Helping you customizing the right assets for the right channel: DAM helps you crop your assets for the right channel by using already pre-defined (or custom) settings.
Reduces time-to-market: Due to its automation capabilities, the workflows of distributing content are streamlined and made more efficient through a DAM.
Lets all users work from anywhere, online or offline: A DAM will ensure that users are able to access content anytime and anywhere. This ensures that they’re able to deliver content within any geographical location. In return, more consumers across the globe are able to consume your content through various channels.
A DAM will also ensure that any update you make to your product will be updated on all the channels you’ve included in your strategy.
For example, if a retailer suddenly goes live with a new campaign online, employees in the retail stores will be able to access the same content (offline and online) in order to make sure the brand remains consistent at their physical locations too.
Enables all teams to do work together, collectively
Another way DAM can be leveraged is by boosting all teams across the organization so they can do what they do best. Work together towards a common goal.
DAM does this by:
- Breaking down silos
- Supporting your remote workforce
It’s no secret – silos slow you down.
And in retail, there’s a lot of moving parts – from marketing to logistics to the returns department.
Not only will silos hinder you from working at an optimal pace, they’re also more likely to increase the inconsistencies in your omnichannel retail strategy.
Eliminating silos means minimizing the chances of bottlenecks, mistakes, misunderstandings and duplicate content and workflows. In other words, greater efficiency and productivity.
Getting teams to collaborate is still a challenge.
In fact, it’s the biggest strategic content management challenge, according to a report by Content Marketing Institute.
DAM enables a more transparent collaboration across departments and teams, so that everyone has access to the same on-brand content.
How? By using rights and permissions.
By using permissions inside a DAM:
Assets will only be shown (and used) to the right people
Assets can only be shared by the right people
Assets can only be edited by the right people
If salespeople need access to a new product brochure, they’ll see it.
If marketing needs to update an existing product on the website, they’ll know which one.
This means you’ll avoid confusion and misunderstandings or worst case - that you launch the wrong content for a new Spring clothing campaign in Europe while the Americas see a completely different campaign!
Helps branded content comply with guidelines
A DAM platform is the driving force that ensures you stay in line with guidelines and rights.
First of all, security is one of the most important aspects of a DAM. A DAM will ensure that only the right assets are used, but also that only the right people have access to them.
This is by means of administrators defining the various roles, users and groups within a DAM so that there’s a secure structure when it comes to dealing with assets.
In essence - your omnichannel retail strategy will only include assets that are in line with the organization and goals.
Without a DAM - you’re left dealing with off-branded content.
(Something that the majority of retailers deal with).
Furthermore, DAM can be leveraged for increased regulatory compliance. It helps marketers make sure that their assets include:
The right watermarks
Updated terms & conditions
Correct disclaimers
Valid image license certificates
Only the right assets will be communicated, as a DAM will help you see which content is outdated, and which content needs to be renewed.
When you’re delivering an omnichannel retail strategy, consumers can access content, on any platform, and in both digital and physical touchpoints. That’s why it’s incredibly important to avoid breaking content rights, off-label marketing, fines and legal liability. Which a DAM, amongst other things, will do.
In the end, it means that your social media team doesn’t have to double-check or worry that the content they post doesn’t comply with the local rules and regulations. They are already approved. Ready to go.
Why PWT chose Digizuite to help drive their omnichannel retail strategy
PWT is one of Europe’s most well-known men’s wear brands and is the parent company of Lindbergh, Bison, JUNK de LUXE, Jack’s Sportswear Intl., and Morgan.
The company sells all brands both online and in its more than 146 retail stores and you can also find PWT’s clothing through more than 800 independent retailers across more than 30 countries.
With the pandemic forcing more companies to digitally transform their business, PWT adopted a heightened focus on optimizing its omnichannel strategy – with the goal of offering high-quality, consistent retail experiences across all digital platforms and in-person avenues.
This led them to Digizuite – the leading DAM platform for enabling omnichannel experiences.
PWT’s Marketing Director, Brian Børsting, is excited about integrating Digizuite into their existing Martech Stack.
“We are looking forward to automating and streamlining the way we create, manage, and distribute our digital content. With Digizuite’s strong workflow engine and open API, we will be able to accelerate the creation and management process so that we get approved products to market faster and more effectively,”
Conclusion
With the pandemic as a driving force, most companies are seeing a higher expectancy amongst consumers (about 90%) that want the same retail experience consistently across all channels.
Retailers looking to implement an omnichannel strategy should be aware of the technology that can help them take the leap and power their omnichannel marketing efforts even further.
Digital asset management tools are great for retailers looking to boost their omnichannel experience across all customer interactions.
Summing up, a DAM platform can:
Make sure content is always on brand, all in one place
Escalate and boost a content strategy across all channels
Enable all teams and departments to update content, remaining on the same page and
Ensure that branded content is in line with regulatory compliance, guidelines and security measures
All in all – DAM helps you deliver the right content, to the right person, in the right channel and at the right time. You couldn’t ask for more, could you?
Want to see how Digizuite DAM can boost your omnichannel retail strategy?
Book a call with one of our experts today.
Resources you’ll love:
Omnichannel Marketing Strategy: How to Deliver a Consistent Brand Experience
Why a T-Shirt Must Go Omnichannel - And How, Demonstrated by 5 Use Cases
Headless DAM - What Is It And Why Is It Relevant For Omnichannel Commerce
Why DAM software is at the Heart of Effective Sales Enablement
