Every year, companies spend more on their advertising campaigns than Kim Kardashian’s insurance claim following her harrowing jewelry heist in Paris. Sound crazy? Business Insider reports that there are over 30 companies in the US that spend at least $1 billion dollars on advertising alone.
As staggering as those figures are, companies are also spending big bucks on the assets that make all that marketing possible. The question is, are they spending it the right way, on systems that help them find and use the collateral they’re investing so much in? Or do they end up paying for it the wrong way, in the form of wasted resources and misuse costs?
Here are 10 facts about digital asset management systems that will lend some perspective to the dollars and cents of the digital assets we use every single day. Some of them might even make you raise an eyebrow and double check that source link.
1. Companies will spend over $5 Billion Dollars on digital asset management by the year 2020.
2. 20% of marketing technology budget allocation is on marketing SaaS.
3. You can get sued for removing metadata.
4. Misuse of a digital asset can potentially cost you $150k per asset (for each violation).
5. Artificial Intelligence, including facial recognition, has been introduced to the world of DAM.
6. Sometimes, people understand how and why metadata and DAM are imperative for success in the digital world of business. These people are called DAM Champions, and we love them so much.
7. Using a DAM system helps marketers reduce time to market and could potentially increase high fives in your company by 500%. 😉
8. Estate planning for your digital assets. Yes, this is a thing.
9. If designed and configured optimally, digital asset management systems create online environments where people can borrow ideas from one another and build new concepts through the sharing of content and the opportunity for serendipitous browsing in ways that technologies like Google Drive and Dropbox simply aren’t designed for.
10. There are at least 3,874 marketing tech vendors and only around 60 do DAM & MRM. Only one of them has their ISO 27001 and HIPAA certification; over 50 developers dedicated to their product, and uses their own product for DAM!
To learn more about what digital asset management can do for your company, visit our resource library or download our DAM comparison guide!
