The future of marketing is a topic that many spend hours contemplating on a daily basis. Sometimes innovations and developments can immediately cause marketers to have to think on their feet and adapt. Other times, it is a natural evolution from one useful piece of technology into another, more comprehensive solution.
The transition from DAM to BAM by Papirfly™ is a strong example of the latter. And that evolution is taking place as you read this.
For a long time, a Digital Asset Management system was a blessing for rapidly digitising organisations looking for an effective solution to data overload. With more and more assets in the ether, and brands expanding to locations worldwide, having a place to centrally store and share data was essential. DAMs have made this a reality.
But, like many great developments, it is just one evolutionary stage. Gradually, the introduction of Brand Activation Management has built on DAM’s capacity to collect vast quantities of assets from a range of sources, and added the ability to deliver control over branding on a much deeper level.
(It’s important to note here that when we refer to BAM, this shouldn’t be confused with Brand Asset Management, which focuses solely on the management of any asset your company has related to your branding. Brand Activation Management encompasses this and DAM, as well as the ability to create, educate and analyse.)
Here, we’ll break down the DAM vs BAM debate, and illustrate why BAM software represents the future of how organisations market themselves to customers, employees and the public around them.
From DAM to BAM: The origins
The first Digital Asset Managers became prevalent in the early-to-mid 1990s. With the number of digital files companies needed control over rapidly expanding, softwares like Cumulus were developed to make it easier for businesses to get a handle on their data. From there, their sophistication and reach have continued to develop into more integrated, innovative solutions.
In 2017, the value of the global digital asset management market was valued at around £1.9 billion ($2.5 billion), and by 2024 it is expected to be worth an incredible £6.3 billion ($8.1 billion). A means of compiling and controlling digital assets is something that more and more businesses need in their lives – both as a result of globalisation and the demand to deliver more marketing output in an increasingly competitive landscape.
But, as alluded to earlier, DAM is just the beginning. An effective answer to a problem that’s plagued organisations since the digital age began. A terrific starting point. However, now it can play a vital role in resolving another challenge for companies need to overcome – effective brand management.
Your brand is your most valuable differentiator. The message that’s going to connect with your audiences and convince them to choose you over your competitors. Being in control of that messaging is critical to building that bond with your target audiences.
How valuable is your brand?
- 82% of people on search engines will first click on a brand they’re familiar with
- Consistent presentation of a brand can increase revenues by 23%
- 72% of marketers view branded content as more valuable than traditional advertising in magazines
- 60% of millennials expect a consistent presence from a brand across all channels
DAM vs BAM: Breaking down the benefits
An effective DAM system provides powerful benefits to any global organisation, including:
Research from Gleanster has illustrated that it can take five times longer for employees to find assets without the use of DAM software. That is an incredible gulf of time that can be better utilised in a number of ways, be it employee training or strategic thinking. Plus, your teams spend less time searching folders and network drives, and more time delivering an effective piece of collateral.
A central resource for all your digital assets, be they images, videos, PDFs or branding, makes it easier for those in your organisation to collaborate on projects. Someone on one side of the globe could upload something to your DAM hub that will be employed by another person on the opposite end of the planet to use in their next marketing campaign.
How much money do your teams spend searching for assets they need for marketing campaigns? Research from The Geeky Globe reveals that an average company wastes $10,000 a year on mismanaging their assets. By collecting all assets in a single space that can be searched through and accessed whenever required, this loss of money is greatly reduced, meaning more can be spent in other areas of your company.
Faster to market
Time spent searching for digital assets is time that you lose from creating and disseminating your marketing campaigns. Fundamentally, having all the assets your team requires available to them in a couple of clicks will drastically cut down the time it takes for you to turn around campaigns, and subsequently increase the number you can deliver in a set timeframe.
There is no questioning the scope and value that DAM offers any organisation with a substantial amount of assets to manage at any given time. But, the movement from DAM to BAM encompasses all of the above benefits, and takes them so much further.
Think of DAM as a robot butler. It is incredibly useful and efficient, and when you ask it to give you something, it delivers it no questions asked. However, unless you have a working knowledge of your brand guidelines, and direction on how to locate these within the system, then the robot butler has no means of interpreting this – it is programmed to deliver what it’s specifically asked for.
With BAM software, your robot butler gets an upgrade. Think of it as the Alfred to your brand’s Batman. While still maintaining the capacity to collect and store significant numbers of assets valuable for your marketing materials, the move from BAM to DAM incorporates:
- A dedicated space for employees to be educated on brand values and become fully engrossed with what visions and objectives your organisation stands for
- Straightforward creation suites and intelligent templates that always keep your team on brand when producing marketing assets, which empowers those with little-to-no design experience to create compelling materials
- A more intuitive user experience when compared with a DAM system, which is often used by a limited number of users trained to operate the software
- Reassurance that the assets stored within the software have been ‘curated’, and thus only supplying users with the most up-to-date materials to prevent inconsistencies from creeping in over time
- Capacity to plan, manage, oversee and assess your campaigns and the popularity of the collateral your teams worldwide are using
Without the foundation that DAM established decades ago and has continued to refine, BAM could not build on this with a means of enhancing an organisation’s ability to govern their brand voice and keep it consistent across all channels and locations.
Because at their core, DAM and BAM work to deliver the same highly sought-after commodity: control.
DAM or BAM: Which is right for your business?
If what your company is currently looking for is simply a means to get to grips with the sheer volume of digital assets scattered across your various folders and files, a DAM solution will do the job perfectly well. In many ways it’s a must-have technology for all organisations looking to operate in the most efficient and effective way when it comes to their marketing.
But if you want to take it further and make the move from DAM to BAM, then you’re enabling your team with the tools, information and motivation to drive your brand forward on every corner of the globe you touch. The ‘whats’, ‘hows’ and ‘whys’ of your brand will be clear to see across your employees, giving you a firm grasp over the consistency of your collateral.
So if you’re interested in getting in on the ground floor of the future of marketing, get in touch with our team today to learn more about our Digital Asset Management package, and how it fits into our overarching Brand Activation Management solution.
Go further with a system that empowers your team to Create, Educate, Manage, Store & Share your brand with your audience – no specialist support necessary.