The difference between Brand Asset Management and Digital Asset Management
Brand Asset Management (BAM) consists of the organization, storage and retrieval of important branding information in order to communicate according to the brand guidelines and standards, therefore protecting the brand’s identity.
Digital Asset Management (DAM) is the organization, storage and retrieval of corporate digital media and marketing collateral along with their associated usage guidelines.
Sounds quite similar, doesn’t it? Although these management forms are often referred to as the same term, there is a distinction between the two.
A company’s brand is its most valuable asset. Brand value or customer based brand equity is built by continuous and consistent branding.
“Customer-based Brand Equity is defined as the differential effect of brand knowledge on consumer response to the marketing of the brand” — Keller
What are assets?
Digital or brand assets are valuable property of a company. They consist of, well, what else, digital files, aka digital media, images, documents, videos, presentations, etc. The distinction between an asset and a regular file is, and there is that keyword again, value. Digital files can be considered digital assets, but not all digital files are necessarily an asset to the company.
The assets of a brand, which are more or less tangible, play an important role for marketers who manage, control and maintain the corporate identity.
Digital Asset Management is a management form that carries the tools marketers need for consistent branding. DAM software contains the brand guidelines, a media library containing all the brand’s assets and a workflow module where all marketing publications can be monitored before they are published.
Digital Asset Management → Brand Asset Management → Brand Equity
In short: Digital Asset Management software contains, amongst others, brand assets. Therefore, Digital Asset Management complements and strengthens the Brand Asset Management. BAM adds value to a brand, which leads to high brand equity.
BAM or DAM software?
Luckily, you don’t have to choose between the two. Brand Asset Management is an integrated part of Digital Asset Management software. The main goal with DAM is the centralization and consistent use of assets, which includes brand assets.
DAM software is the librarian of your marketing department that never sleeps and never gets tired of your requests. Find out how your company can increase brand equity with Digital Asset Management.
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Originally published at https://insights.lytho.com.