When looking to invest in a media asset management (MAM) system, several questions pop up. The common question that often arises is: how will the MAM system enable your organization to save money? If this sounds like your predicament, then this is your article.
Let’s delve in and explore.
First, Media Asset Management saves on costs associated with technology
Most MAM solution providers will give you a pricing model depending on your firm’s unique needs. This dictates the exact technology you will use, which saves you on the expenses associated with the management of media 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 undoubtedly contribute to time wastage resulting in losses since “time is money.” Also, employing people is expensive, and in the same vein getting the most out of them is crucial for your business success. This calls for the correct allotment of equipment to allow maximum output.
Fortunately, a MAM system enables your marketer’s to gain quick access to the required media assets, and can download, upload, or edit them in real-time. This brings about efficiency by allowing quick turnaround 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 media assets 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 spend more time on mundane tasks resulting in delayed marketing time.
Also, having inefficient systems – such as the lack of a secure storage location for your media assets, difficulty in accessing locally stored assets, and the recreation of existing assets – hampers creativity resulting 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 asset rules, such as nondisclosure agreements, which prevents any form of fraud. This keeps 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 date security systems that help protect confidential and private media assets from unauthorized persons. Thus, such a platform can protect your media assets from hackers and other online thieves on a twenty-four-hour basis; thus, giving you peace 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 your organization will bring in value. Therefore, installing a platform that will control their use and storage to allow their monetization is essential. A MAM system does precisely that; it enables various marketing campaigns to be carried out in your organization.
It also helps you in:
- Controlling future campaign costs
- Determining the use of your media assets
- Providing control permissions
- Rendition management
- And version control of your media assets
That said, part of your organization’s sensitive information, such as your financial reports, will need protection from public scrutiny. Permission control offered by most MAM systems determines who can view, download, or edit the media assets to avoid organizational damage and loss of assets or money. This provides a suitable environment for the utilization of the existing resources for financial gains.
Moreover, the right MAM platform manages all the changes made by the users using automated version control, which provides your creatives with further insight regarding the existing media assets. For instance, what has been currently added, the people behind them, and any particular changes made. This allows them to download relevant versions, instead of developing new ones.
Media asset management and content localization
For the smooth running of your organization, you need a system that will take care of the management and organization of your crucial documents. A MAM system offers a central repository that is comparable to an intuitive library for your media assets, which allows real-time universal access, as well as maximum security.
Moreover, by utilizing predictable folder structure and consistent naming technique, both the local and global users can easily access your media assets. This significantly streamlines your work, which can reduce your operating costs by up to 50%.