What is Marketing Asset Management?

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A modern, multi-channel digital marketing campaign requires marketing asset management to function.

You and your campaign have a lot of creative assets, a lot of collaboration, and a lot of moving parts.

For marketing staff, this means that they need to keep track of all of these things…and in many cases, they fail.

This is all made worse by the expectations of today’s customers and decision-makers.

All of your content has to be high-quality, relevant, and ideally personalized in order to drive the levels of customer engagement you need to succeed.

What is Marketing Asset Management?

Marketing asset management is a form of digital asset management optimized for marketers.

​So, we first have to talk about what digital asset management is.

Digital asset management takes the form of a software platform that is designed to store, organize, and expedite your organization’s digital assets. This might include images, text files, videos, etc.

Marketing asset management takes this concept and optimizes it for marketing. So, your digital library might include content for your blog, videos, your logo, pictures of your storefront, etc.

How Does This Support Your Marketing Strategy?

There are several main ways that marketing asset management can benefit you and your marketing strategy.

Saving Time

First of all, there is the obvious way in which this supports your strategy: it saves time. When you are putting together a new advertising creative, for example, you have immediate access to appropriate images from your own database, images you know you have the rights to.

The library created is scalable, easily searchable, and allows you to keep multiple types of content in one system. With more traditional systems, it’s very common for videos to be in one place, photos in a second, and text content in yet a third. 

The system also supports marketing automation for parts of the campaign. All of this gives your staff more time to do the creative, fun parts of their jobs.

You can use the system to store pre-written templates for product releases, allowing you to get them out to your blog quickly. You can also store pre-write social media posts that can then be used later.

Organization

With this strategy in place, you have a better chance of knowing what you already have. Do you have a picture of the office, for example? If you aren’t sure, then you are likely to go take another one or, worse, hire a professional photographer to come in.

Avoiding duplication of effort is an important reason to have a marketing asset management system.

Marketing Asset Management and Collaboration

So, you have a video that contains a customer testimonial. Are you sure that legal got the customer to sign the appropriate waivers? Does the CEO want to see it before it goes out?

With a marketing asset management system, files can be tagged with metadata that allows you to see at a glance whether they have all of the appropriate approvals. Your photos can be tagged to show when and if the rights expire (and, of course, allow you to check the date, so you aren’t using old images).

This improves collaboration and compliance both with legal issues and with your brand’s rules.

Another important area is the collaboration between marketing and sales teams. Often, these two groups remain in their own silos. However, by giving the sales team access to the marketing asset management system, you can encourage them to provide information that can then help marketing. Sales personnel can tag the content that is leading to a conversion and that data can then feedback into the system and help everyone do their job better.

Welcome encourages collaboration at all levels by providing a project management solution that ties MAM in with preexisting systems to bring in all stakeholders, including your legal team.

How Does This Improve Personalization?

We already mentioned personalization. Customers notice personalization. A study by Yes Lifecycle Marketing in 2017 showed that personalized email headers increase open rates by 50%.

People want to feel that your content is targeted to them, individually. Marketing asset management software supports this by making your digital assets “target ready.” How? Through metadata.

You can use metadata to, for example, send a demographically appropriate picture to a customer. As you build your database over time, you can pull assets that are directly connected to the individual customer.

For example, if you sell clothes and a customer has a habit of buying a lot of button-down shirts, you can use this information to pull assets that show button-down shirts. This is overly simplistic but makes the point.

Metadata, in other words, does not just allow you to check rights, but lets you quickly select the right assets.

When building a larger asset, such as an ad, you can use metadata to do the hard work of choosing the images and videos for you. A DAM system helps in particular by allowing integration with your CRM so that the data you have about your customers, in individual and in aggregate, can be mapped across to the metadata in your marketing assets.

Ultimately, this can lead to the dream of immersive marketing, where your marketing works seamlessly to bring each individual customer through their buyers’ journey in a way that does not cause resentment or turn them off. The customer experience is essential to your business.

Of course, this brings us to…

How Does This Improve Performance Tracking?

Digital asset management can greatly improve the way you track the performance of your marketing assets. Marketing teams can use the real-time data that is being gathered by the system to assess not just the performance of campaigns or ads, but the performance of individual elements.

Because asset managers can tag each asset with the campaigns it is associated with, you can pull together data that shows which individual photos, which text templates, etc, are used in your highest performing ads.

You can more easily do A/B testing where you switch out a single element. This allows for a much finer level of optimization when it comes to the metrics you are using.

It also allows you to, for example, elect not to renew the rights on images that are performing poorly.

You can also map across to your CRM not just to customize content but to further refine which assets and images work best with which demographics. By comparing your marketing tracking with the metadata and updating as needed, you further refine the database. 

With Welcome‘s platform, everything is in the same workspace where your team members can see all of your marketing content, campaigns, and resources in one place.

How Does Marketing Asset Management Support Asset Creation?

Another way that marketing asset management supports your strategy is through content creation.

Any member of the team can easily pull the templates they need to create content, and can then use the keywords and met
adata to find the right assets to include. This makes the process much easier and frees up your marketing team’s time to focus on strategy, messaging, and other things that require more thought and energy.

Templates can also be provided to external or outsourced content creators, such as freelance writers and designers. Or they can be used to easily create outlines that can then be given to a freelancer to help them complete their work in less time.

Because the system is generally in the cloud, people can work from anywhere and collaborate virtually, supporting work from home lifestyles. Younger professionals, in particular, appreciate the ability to work from anywhere.

Overall, this improves workflow and also reduces the chance of work having to be redone because it does not meet your guidelines. It ensures that off-brand content, which can be offputting to customers, does not get sent out.

Finally, it helps keep the balance between creativity and brand consistency. Many of the people who create your assets crave a bit of freedom to adjust things the way they want, and a digital asset management system can help you give them that freedom.

How Does Digital Asset Management Support Security?

The last piece is ensuring that all of your proprietary data and assets are properly protected. A centralized marketing asset management solution provides security by allowing you to set access by role and even by individual asset.

This means that you can give an outside designer access to everything they need to do the job without giving them unnecessary access that could cause problems.

You can easily change access roles as projects end and people are moved around. Also, the system will automatically archive older versions of files and literally prevent them from being used. This can avoid mistakes that can range from embarrassing to disastrous.

Are you ready to give this a try? Check out Welcome today, and get started with your free account!

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