Cloudinary Blog

DAM for a New Decade

DAM-Related Market Trends, Opportunities and Challenges

From the news we read to the e-commerce sites we shop, we better connect with experiences that are rich in visuals. The creation, delivery and consumption of visual media has skyrocketed in recent years, and as a result companies and their digital libraries are exploding with assets. Determining the most efficient way to manage these assets -- and extending their value beyond web and marketing teams -- has become a mission-critical exercise for most organizations.

To offer insight into creating a digital asset management (DAM) strategy to best suit today’s needs, Cloudinary recently hosted a webinar with IT industry veteran and Research in Action analyst Peter O’Neill. Over the course of the webinar, Peter offered guidance on how to ensure that your business needs inform your DAM strategy, and reviewed his latest findings on DAM-related market trends, opportunities and challenges.

Missed the chance to join us live? Here’s a quick summary to catch you up.

Taking a global view of DAM projects

When taking on a new IT initiative, evaluating the current landscape is an entire research project in itself. Some trends driving DAM-related priorities based on Research In Action’s 2019 assessments include:

  • Optimized performance is the top priority for many looking for a new DAM, followed next by the acquisition of the latest new functionalities.
  • Migration to a cloud-based, SaaS platform is noted as a high priority for buyers, too.
  • DAM buyers are most interested in DAMs that support their website management over all other customer touchpoints; social media also rates highly.

Peter also shared his market predictions for DAM:

  • AI will continue to surge the digital space for automated search and organization
  • Analytical tools in DAM will become more useful to marketers as they provide critical performance insights on each digital asset
  • DAM will enable organizations to easily scale and reuse content through a process called atomization, breaking down digital assets into component parts
  • DAM will continue to become increasingly mission-critical for businesses -- managing all digital asset variants including assets created in the customer facing delivery phases

Choosing the right technology partner

After discussing trends and walking through vendor selection methodologies, Peter briefly touched on his evaluation of Cloudinary, which you can find here. A reimagined solution for DAM and as Peter puts it, “the new kid on the block,” a few of highlights based on his ranking include:

  • Born in the cloud, Cloudinary’s DAM is best suited for businesses who use rich media to drive customer engagement and conversions.
  • Cloudinary supports over 30 billion digital assets across our customer base.
  • Major players in the apparel and retail industries have acquired Cloudinary DAM capabilities based on their need for responsiveness, rich media and support for personalization across a number of channels.

For additional details on the webinar, you can check out Peter’s full presentation here SlideShare.

One size does not fit all, and it’s important for companies to understand which digital asset capabilities and solutions will put them on the path to DAM success. Whether considering a DAM for the very first time or working to improve or overhaul an existing one, we are ready to help you establish a new vision for what a DAM can and should be.

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