Given the amount of content they create, all brands are now media organisations now. That’s the view of Forrester Research, outlined in a recent Wave Report into Digital Asset Management for Customer Experience.
The importance of content has placed the issue of digital asset management (DAM) front and centre with marketing and product leaders.
In its recent research Forrester said noted that 86 per cent of brand marketers continue to invest in content development.
Not only that, but buyers increasingly prefer rich media content like images and video in the information — infographics and videos ranked among the top five types of content that B2B buyers like to consume.
Forrester said brands need DAM as it helps companies scale content creation, enables content reuse and support development of content for omnichannel delivery.
The authors of the report say the DAM market is witnessing growth due to more application development and delivery (AD&D) professionals seeing content organisation and delivery as a way to address their top challenges.
The report claims this market growth is in large part due to the fact AD&D professionals increasingly trust DAM providers to act as strategic partners, advising them on top content decisions.
When Forrester looked behind how companies make the most of their DAM investment they found 5 key considerations which are:
- The market continues to converge and consolidate: The DAM market is under pressure from adjacent technologies like product information management and content marketing platforms which have lightweight DAM functionality. The DAM market has responded, for example OpenText slimmed its portfolio to just one DAM product. This consolidation means less confusion for buyers and tighter integrations between complementary technologies.
- Artificial Intelligence adds value to content: Rather than using humans to comb through libraries of content, firms can use AI to apply generic tags where metadata governance has been lax.
- Analytics provide a more accurate picture of content ROI: Linking content to business value is a top challenge for marketers. Vendors have added integrations with analytics tools to understand downstream performance of assets, or how content performs in the wild. We expect vendors — especially ones with a marketing resource management (MRM) tilt — to focus analytics capabilities upstream as well, so that brands can better understand content ROI.
- Support for video increases: Video is one of the most compelling content formats a brand can provide because it delivers information quickly and in an emotional medium. Most DAM systems can support video, and vendors have created alliances with online video platforms such as Brightcove and Kaltura to augment native capabilities.
- Compound documents and 3D assets power content atomisation: One-third of brands that want to improve their influence and reach in the market plan to change or improve their creative strategy. Content atomisation supported by DAM helps organisations scale and reuse content. Compound documents support atomisation by allowing companies to combine different, existing pieces — like assets within a Photoshop file — to create something new. Some DAM vendors have gone one step further to support photorealistic 3D content that can replace an expensive product photoshoot that nets a finite number of images.
Forrester placed OpenText in its leadership group as a DAM provider saying the company has “strong core functionality but slips on integrations”.
The analysts said, “OpenText excels in core library services functionality with some of the best search functionality in the evaluation. OpenText also has solid marketing support in areas like marketing resource management and analytics.”
About this author
Athina Mallis is the editor of the Digital Intelligence Unit of which OpenText is a member. Members provide their insights and expertise for the benefits of our readers. Membership fees apply.