When looking to invest in a media asset management (MAM) system, severalquestions pop up. The common question that often arises is: how will the MAMsystem enable your organization to save money? If this sounds like yourpredicament, then this is your article.
Let’s delve in and explore.
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First, Media Asset Management saves on costs associated with technology
Most MAM solution providers will give you a pricingmodel depending on your firm’s unique needs. This dictates the exact technologyyou will use, which saves you on the expenses associated with the management ofmedia assets.
Depending on your company’s needs, you can select the kind of system you want. For instance, you may opt for an on-premise solution or cloud-based MAM.
Increases employee efficiency
Inefficient systems in organizations undoubtedlycontribute to time wastage resulting in losses since “time ismoney.” Also, employing people isexpensive, and in the same vein getting the most out of them is crucial foryour business success. This calls for the correct allotment of equipment toallow maximum output.
Fortunately, a MAM system enables your marketer’s togain quick access to the required media assets, and can download, upload, oredit them in real-time. This brings about efficiency by allowing quickturnaround times for your projects.
The search capability for these systems mostly relies on the input of correct metadata that allows the most accurate or relevant asset description. Others use sophisticated features include; faceted navigation, sorted search results, inbuilt search technology, artificial intelligence, and rich media-specific attributes such as colour.
Saves you on human resource associated costs
Installing a MAM system at your business premises can allow a lean and more efficient business model. Your staff and customers will be able to share media assets in real-time, which eliminates the need for extraneous asset administration. As a result, it increases your organization’s productivity as well as reducing your running costs.
Allows better digital campaigns and workflow management
Come to think of it, what can happen if your mediaassets aren’t stored under the correct file name or in the right the folder?First, you wouldn’t locate essential files on time and secondly would spendmore time on mundane tasks resulting in delayed marketing time.
Also, having inefficient systems – such as the lack of asecure storage location for your media assets, difficulty in accessing locallystored assets, and the recreation of existing assets – hampers creativityresulting in a more extended marketing period.
By enabling the tagging and saving capabilities plus proper workflow management, a MAM system allows the quick search and organization of media assets, which creates time for other important aspects of your business.
Reduces legal headaches through copyright management
Having a MAM system in place can save your business legal hurdles as it allows your staff to quickly establish if they can or not legally utilize an asset. Also, you can protect your rights management and asset permissions, using the platform to eliminate the unauthorized use of resources.
Besides, enabling easy control and maintenance of assetrules, such as nondisclosure agreements, which prevents any form of fraud. Thiskeeps your expenditures at a minimum concerning legal issues.
Rights management also curtails the unauthorized distribution of media assets and the eventual brand damage, which can lead to massive losses.
Reduces expenditure on already existing media assets
It isn’t a secret that, when your organization grows,you will require new media assets, or perhaps updating the existing ones.
The good thing is that incorporating a MAM platform in your business allows the secure storage and retrieval of necessary documents for use or editing purposes.
Thus, eliminates the need for re-purchasing existing assets or developing new ones, such as stock images and videos from scratch. These can save your organization a significant sum of money.
Ensures security of your media assets
Currently, most MAM platforms integrate up to datesecurity systems that help protect confidential and private media assets fromunauthorized persons. Thus, such a platform can protect your media assets fromhackers and other online thieves on a twenty-four-hour basis; thus, giving youpeace of mind.
It is estimated that a data breach can cost between $1.25 million and $8.19 million, which makes it necessary to embody a MAM system in your organization to protect you from such huge risks.
Those in the medical, entertainment, government, or defence sectors categorically require the services of such a platform since their organizations are highly susceptible to cybercrime.
Enables the monetization of media assets
It goes without saying that any asset in yourorganization will bring in value. Therefore, installing a platform that willcontrol their use and storage to allow their monetization is essential. A MAMsystem does precisely that; it enables various marketing campaigns to becarried out in your organization.
It also helps you in:
- Controllingfuture campaign costs
- Determiningthe use of your media assets
- Providingcontrol permissions
- And versioncontrol of your media assets
That said, part of your organization’s sensitiveinformation, such as your financial reports, will need protection from publicscrutiny. Permission control offered by most MAM systems determines who canview, download, or edit the media assets to avoid organizational damage andloss of assets or money. This provides a suitable environment for theutilization of the existing resources for financial gains.
Moreover, the right MAM platform manages all the changesmade by the users using automated version control, which provides yourcreatives with further insight regarding the existing media assets. Forinstance, what has been currently added, the people behind them, and anyparticular changes made. This allowsthem to download relevant versions, instead of developing new ones.
Media asset management and contentlocalization
For the smooth running of your organization, you need asystem that will take care of the management and organization of your crucialdocuments. A MAM system offers a central repository that is comparable to anintuitive library for your media assets, which allows real-time universalaccess, as well as maximum security.
Moreover, by utilizing predictable folder structure andconsistent naming technique, both the local and global users can easily accessyour media assets. This significantly streamlines your work, which can reduceyour operating costs by up to 50%.