Last Tuesday six of us went to an event called "Competence cinema" or "Kompetensbio" as it is called in Swedish. Some of us went on a previous occasion and found it to be quite good. The concept is lectures mixed with a feature film. Webstep hosted it at one of Svensk Filmindustri’s cinemas. There were two lectures; the first was about micro services and the last was practical tips for using asynchronous methods in C#. Even though none of them benefit QBank directly, it's always good to know about the universe outside of your own sphere.
Throughout the day we met several potential shareholders who were interested in DAM, so why not use this blog post as an opportunity to inform of the DAM market and the potential it holds, from a shareholder’s view.
The Swedish Shareholder’s Association themselves report that images and videos are becoming increasingly important to businesses. The new trends of social media, Internet and not to mention e-commerce has led to images becoming more or less central in companies’ market communication.
The rise of of e-commerce
Studies show that 78% of online shoppers don’t look at a product in a store before buying it online. That’s because online they can see images of the product from different angles and variations, and therefore have no need to make the trip to the actual store. So in order to get on the train of e-commerce, companies need to get on top of managing their images and have the ability to quickly upload and distribute images to their websites. This translates into product images being vital for companies who want to be successful in e-commerce.
A few weeks ago we wrote about content marketing and how it’s become the center of attention of every marketer out there. The evolution of content marketing has led to consumers expecting custom content in every channel, putting extra pressure on marketers. High-quality images and videos need to reach their consumers fast and often.
Carl representing QBank at the fair!
An organizational tool
Digital asset management has gone from being regarded as a tool used by marketers to manage marketing material to being a central part of companies today. The use of images and videos is no longer limited to marketing, but is being used throughout the entire organization, from sales material, product images, intranets and employer branding. This changing behavior of consumers and companies has increased the pressure on companies to manage their digital assets. DAM is today regarded as a vital organizational tool, as 92% of DAM-users have reported that the main reason they use the tool is to optimize their workflow.
In light of this, maybe it’s no wonder we received such attention at the Great Shareholder Day. Companies using DAM as a tool save both time and resources, which they can then spend on perfecting their business to increase their revenue, has led to more and more businesses regarding DAM as a vital organizational tool.
Finally, to summarize this blog post in one sentence, a report from the Gartner Group states that the DAM market is expected to grow with 30-40% each year. In other words, the future of DAM is looking bright, and hopefully more clients and shareholders will get to enjoy the ride with us!