The Future of Digital Asset Management and Business: 5 Trends

by Jacob Solomon Mar 16, 2023 News
The Future of Digital Asset Management and Business: 5 Trends

The Library of Congress has more physical items than any other public library in the world. Imagine the amount of time and research it would take to organize and track each item in that collection.

There are 4.5 billion pieces of digital content created every day. Digital content is similar to the physical content of a library. Businesses are quickly converting to cloud-based solutions to store and manage their digital assets. Forbes estimated the value of the platforms at over a billion dollars. It was almost $4 billion a year later. The digital asset management market share is expected to grow to $8.2 billion by the year 2030.

Digital asset management is an essential part of business. The digital asset management market is evolving.

1. Customer experience

Digital evolution is powered by content operations. You can't have a successful business if you don't have a good content operations system. As the demand for integrations across e- commerce platforms and social media continues to rise, the need for digital asset management is growing with it.

More than $20 billion was spent on third party data acquisition tools before the swine flu hit. The marketing tactic was intended to engage customers with more personalized content. Content strategies businesses use need to work in concert with their customer strategies as marketers look harder at their overall macro-brand experience.

To adequately meet customers where they are at, it must be channel, category, and tech compatible and adhere to best practices. Digital asset management can combine valuable intelligence data and first party data to create engaging customer experiences.

 2. Employee experience/Work-life balance 

More than 70% of Americans prefer to work from home. The ability to work from anywhere is a permanent option for these workers. Flexibility in the workplace has become a central value for many people. Organizational efficiency is supported by DAM. The cloud-based structure allows easy access at all levels of the organization, as well as advanced collaboration tools for every stage of the content lifecycle.

The search for and distribution of a company's most critical digital assets can be simplified by the use of DAM. By reducing time-consuming, menial, and in-person "busy work," DAMS will provide greater flexibility in how and where employees focus their energies. A sense of self-management and self-registration will increase the ease of use.

The Chief Marketing Officer at Sensedia was interviewed.

3. Generative AI

The main goal during the early stages of the project was to capture and store data. Digitalization has become much more active as technology has evolved. Cloud-based systems allow quick interaction between systems that can be used for many purposes. Forrester predicts that at least 10% of businesses will spend money on artificial intelligence-supported digital content creation in order to keep up with consumer demand for tailored content.

GPT 3 is an example of how artificial intelligence is changing the world. It's a game-changer for content creators and shows some of the immense potential inherent in artificial intelligence. Automatic decision making is already being done in the DAM space. It is possible to understand and respond to user queries with the help of artificial intelligence. A core aspect of content personalization and reduced manual/rote tasks are aided by continued automation. Anomaly detection, actionable insights, improvements in the accuracy of data classification, improving voice recognition to understand context and intent, and user controllable alerting are a few other benefits that will be provided by DAM.

4. Sustainability 

Yvon Chouinard decided to transfer his company's ownership to a non profit. The decision ensures that all the company's profits go toward fighting climate change, something that will look different depending on the industry. The former CEO's actions have prompted necessary conversations that have moved past the green implications behind the word "sustainability" to talk about how organizations can implement structural changes to get more intentional with the content they plan, produce, manage, distribute, analyze, and archive.

The modularized approach of DAM allows core messaging to connect in an organized way, as opposed to the helter-skelter approach of marketing. Proper organization and use of data can help to reduce wasted time and content. The benefits of increased customer trust and more effective processes will be reaped by brands that implement sustainable practices in their operations.

5. Composability

Composability has been around for a while, but it has become top of mind when it comes to software. In order to operate at maximum efficiency, maintain flexibility, and ensure cohesive experiences for users, brands are streamlining content production through tech stacks. Content is created, dispersed, measured, and reused within a framework. Instead of going with all-in-one platform vendors, this best-of-breed, or best-for-me, approach is being adopted.

Data will become more portable, and cloud-native software will become more flexible, allowing businesses and individuals to create tailored solutions on the fly. Businesses with consistent messaging will always come out ahead of their competitors. Consistency in brand messaging and styling can be achieved with a single repository of truth in the DAM. They will provide a way to make collaboration more efficient. Work will be streamlined and updated in order to reinforce an external perception of integration, consistency, and identity.

The methods that impart meaningful messaging can be provided with adams.

The first place one would look for information and inspiration was a library. Our archives have expanded beyond the confines of physical space. A lightweight, dynamic archival system for businesses with digital assets can be provided by DAMs. Digital assets are used to create positive user experiences, consistent brand messaging, and responsible creation and distribution of content.

Our lack of proper methods will hold us back from making the most of technology as our landscape becomes more connected on the digital plane. The fine-tuned messaging that separates good businesses from excellent ones will be created by DAMs and creative teams.

There are common friction areas in the typical B2B journey.