When I first began at Forrester almost three and a half years ago, digital asset management (DAM) didn't generate much interest. How things have changed. Now, we field questions every week from across multiple verticals (e.g. financial services, healthcare, CPG, retail).
DAM is generating more interest for two main reasons:
- Rich media content is crucial for customer-facing experiences. The amount of customer-facing rich media content (e.g. HD video) which organizations manage has skyrocketed. And it's not just traditional web experiences: Rich media is important to delivering rich experiences across channels like kiosks, digital signage, print, and mobile. This channel complexity, in addition to global/local complexities, has forced many organizations to pay more attention to DAM.
- Rich media management has become a crucial part of marketing processes. The multichannel world has also resulted in increasing amounts of rich media content at the brand and campaign level. Organizations must manage multiple versions of these assets, maintain stricter control of their proprietary brand assets and they will need to seamlessly fit into marketers' existing processes and technologies like campaign management and marketing automation.
The level of brand and channel complexity that these use cases suggest can’t always be solved by existing technologies. Instead, successful organizations use DAM solutions as a central hub to serve multiple channels and multiple brands. For example, one organization we spoke to is looking at its existing web content management (WCM), e-Commerce platforms and campaign management tools to be a “customer” of the DAM solution via tight integration.
So if you’re thinking “is DAM still relevant,” I can wholeheartedly say yes, it is. The vendors must now catch up by providing more business-friendly tools. They also need to ramp up their integration strategy with core digital experience platforms like WCM, e-Commerce, product information management (PIM), and cross-channel campaign management. This is essential for vendors because in a crowded space, no one vendor has grabbed the opportunity at hand and taken market share.
Title image courtesy of 3DStyle (Shutterstock)
Editor's Note: See what Anjali had to say about DAM last year in DAM Evolves into a Key CXM Technology