Almost everything at work is already getting digitized. To name a few, documents, spreadsheets, presentations, approvals, and even meetings are going digital. With the fast-paced digital transformation of businesses, more digital assets are being created. But how can these assets be managed efficiently while keeping them protected?
Digital asset management and domain investing: what ties these two together? As a domain investor, your business revolves around digital assets as well. Not only do your assets support the business, it is the business. For this reason, it is only apt that you keep up with the continuous development of digital technology for businesses. You should have a strategy for digital transformation in place.
One of the best strategies to dive into is the implementation of a digital asset management system. Before we get lost in the mix of technical terms, let us first define what digital transformation is. Also, what is digital asset management, and how can it help the digital transformation of your domain investing business?
What is Digital Transformation?
Digital transformation is the integration of digital technology within the whole business. It combines the use of people and processes with technology to create a new system that meets the needs of the ever-evolving market and industry. It is done to make business operations more efficient and effective in this digital era.
The COVID-19 pandemic pushed some companies to fast-track their digital transformation to help their business stay afloat and to continue operating. As expected, after the pandemic was controlled, many businesses followed through with their own digital transformations to gain a competitive advantage. Because more companies are digitally transforming, most of them need domains as well. As a result, this creates more opportunities for domain investors as well.
What is Digital Asset Management?
Digital asset management, or DAM, is a technology that stores and organizes digital files. It is used by businesses for managing digital assets in central storage that is accessible to authorized internal and external users.
It obviously deals with digital assets but can also accommodate basic files like documents, audio, videos, images, presentations, and spreadsheets. Other digital assets examples are NFTs, cryptocurrencies, domains, etc. All these can be handled by DAM.
It is not unusual for a business to utilize a digital asset management system for its digital transformation. It has an unlimited storage capacity, and with the right implementation, you can still maintain the security of your assets.
The right structure and classification of your files and assets in DAM will keep it organized and more manageable. Aside from these advantages, below are 8 additional benefits you can get from DAM for your digital transformation.
8 Benefits of DAM in Digital Transformation
1. Time-saving
Since DAM is the central location for all your digital files and assets, time is not wasted in downloading files sent to you. You can easily search for the file you need in DAM and retrieve it. The back-and-forth emailing with internal users discussing updates can also be a thing of the past with DAM. Your files may have sections where users can post about the modifications they made to it or suggestions they may have for the digital file.
Upon viewing it, you will be able to see the latest updates instantly. Some digital asset management systems also have built-in editing and file conversion tools. With these, you won’t have to open a third-party app to edit images or videos or to convert large files to smaller ones. You can do this all in DAM which is also accessible 24/7.
2. Metadata tagging
With this system, you can arrange all your digital assets and files by category. By having different folders for your different portfolios, you won’t have to go through all the files to locate the one you need. Some DAMs have automated metadata tagging features. But you can also customize your metadata structure. This will make searching for files faster.
Commonly included in the metadata is the date of creation, creator, asset type or format, date of last update, status, expiration date, and other keywords. Additionally, duplicate files will be prevented, and repurposing of old files can be done easily. You won’t have to recreate certain files for a new project, you can simply search and locate the file in your DAM and reuse it.
3. Workflow efficiency
Create a workflow within your DAM. This will make the whole process of pitching an idea, reviewing it, approving it, and creating it more systematic.
With the right workflow, files are sent to the right people and won’t be viewed by unauthorized eyes. Plus, it won’t get lost in a sea of emails. And again, you can save time by not having to wait for email replies.
4. Ease of sharing and distribution
Alongside the time-saving benefit of DAM, sharing and distribution of files or assets is a breeze with this digital solution—no more sending of files through email.
Just store your file in its proper location in DAM, add metadata tags for it to be searchable, and customize the accessibility depending on the people you want to share it with. This improves collaboration and increases the productivity of your team.
5. Consistency
Being a centralized location of files, users engage with the same logos, templates, and other on-brand files for your domains. This will ensure that there is consistency and cohesiveness in the tasks that are done.
By being a central hub of all files for the team, you will be assured that all files used are updated versions. You can also set expiration dates for old files to prevent them from being used for current projects.
6. Search engine optimization (SEO) support
Another important benefit of digital transformation through DAM is that it can help you with your SEO goals. Pagespeed is one factor search engines consider for UX (user experience). If your domain is more user-friendly, it will get a better chance of ranking higher in search engine results pages (SERPS).
With the conversion tools of DAM, images of large sizes can easily be converted to the right size and web formats for your domains to load faster. You won’t have to open another app to edit and convert your image to the correct format and size.
The metadata of an image can also be used by search engines in knowing what the image is all about. It provides additional details for Google and other search engines to recognize if it is relevant to a particular search or keyword. In short, it makes your images more searchable which can position your domain higher in SERPS.
7. Access control and security
Without a doubt, you should always prioritize the security of your domains and digital assets. With digital asset management, you have control over the accessibility of your digital possessions to users.
To safeguard them from unauthorized use, DAM enables you to restrict the access of users to private files and valuable assets. You also have the ability to grant permissions to those who want to access them. Not only that, but you can also choose how users can interact with your files. Some may only be allowed to view, while others may be permitted to edit.
8. Analytics
Digital asset management is a great help in analytics. Without using DAM, it would take so much time for you to gather data. DAM does all that for you. Although DAMs may vary in their reporting features, all of them have analytics tools that would help you track the performance of your assets. You will be able to know how users engage with your digital assets, who uses them often and how they use them, and so much more.
Evaluating the reports of these analyses will assist you in developing new and improved strategies for your domain sales and marketing. Furthermore, DAMs provide real-time reports. You can check the progress of your assets anytime you want.
Bottomline
For your digital transformation, you can never go wrong with a digital asset management system. It can store an unlimited number of files of various sizes, and it has several features and tools that can assist you in increasing productivity and efficiency. DAM is also an effective way to keep track of the performance of your domains.
Bear in mind that not all DAMs are created equal. Make sure that you discuss the features and tools of the system with your provider. Align your digital asset management system with your needs and vision for the business. Don’t expect that digital transformation with DAM can be done in one go. It is recommendable to do it in phases.
Give yourself and your team a period for training and adjustment. A digital asset management system is a worthwhile investment if chosen and appropriately implemented. Moreover, watch out for updates from your provider as this digital solution is continuously evolving to better suit the demands of the business. So, don’t get left behind. Go digital with DAM and experience the benefits that go with the transformation.