Multichannel communication and marketing automation are hot topics in the retail industry. This creates another challenge: the efficient management of the rapidly increasing stocks of digital media files. How can retailers manage their digital assets and how well do they understand the need for efficient digital asset management? A new study conducted by consulting firm Ovum on behalf of WoodWing sheds light on these and many more questions. A key finding: Retailers waste an enourmous amount of time searching for files.
A new study conducted by consulting firm Ovum on behalf of WoodWing found among other results:
Retailers waste an enourmous amount of time searching for media files.
Obviously, retailers must come to grips with enormous stocks of media files — mainly images, but also video, audio, text and more. But how can they get a handle on their digital assets? How do they manage, use and share them to get the most out of them? How do they ensure that their assets are used properly? In a nutshell, how strong is retailer´s awareness of the need for digital asset management (DAM) and how well do they understand DAM?
The study by Ovum is based on telephone interviews with 250 retailers in the United States and the United Kingdom. The results provide an overview of digital asset management in the retail industry. A key finding is that most retailers think they understand DAM and believe they have implemented appropriate digital asset management strategies and processes. However, this assertion is undermined by the fact that 38 percent of retailers say that their companies waste 5-10 hours per week searching for files, and 17 percent admit that their searches exceed 10 hours.
“Retailers must have the appropriate software in place to allow users to speedily access the digital assets they require to produce materials across multiple channels including print, direct mail, email, online advertising, television, print advertising, and social media” says Sue Clarke, Senior Analyst at Ovum. “DAM provides a dedicated repository and the functionality required to manage digital assets, allowing reuse across all of these channels for delivery through multiple devices”.
“In today’s content-driven and widely automated marketing world, media files must be managed efficiently and safely to maximize their value,” says Roel-Jan Mouw, CEO at WoodWing. “The study shows that digital asset management is indeed no longer a new application. At the same time there’s still some ground to be made up regarding the understanding and implementation of appropriate systems and strategies.”
The results are now available in a free whitepaper, “Making the case for digital asset management in retail,” which can be downloaded here: media.ne.cision.com/l/bldfjcir/bit.ly/1i75vKJ. This 26-page document covers:
• retailers’ issues in creating content for multiple channels and languages,
• the major digital asset management pain points that retailers face,
• the importance of DAM integration with other business systems,
• the need to be able to deliver digital assets to mobile devices, and
• retailers’ understanding of DAM in the cloud.