16 Jun Supporting Your Personalization Strategies With a DAM
From simple segmentation, through “personification” and individual “1-to-1” recommendations, personalization improves the customer experience and lifts sales. However, successful personalization strategies require investment in tools, data and content. We take a look at how a DAM can amplify and accelerate your personalization efforts.
The personalization imperative
A shopper visits an online cosmetics store. The website helps them pick an ideal moisturizer based on their navigation, purchase history, or reward program status and nudges them to conversion. This is personalization at work.
Marketers invest in personalization strategies because they can improve lift by an average of 19% and generate more leads. Marketers are almost unanimous (98%) in agreeing that it helps advance customer relationships. Over 70% claim that it has a “strong” or “extremely strong” impact on relationships.
Not only this, consumers have come to expect and demand it. 85% of marketers report that their customers and prospects expect a personalized experience (source: Evergage / Researchscape 2019)
Brand content and digital assets: the largest pole in the personalization tent
Personalization is by no means new. But personalization strategies have grown in sophistication. The proliferation of vendor technologies such as recommendation engines, digital experience platforms, customer data platforms and conversion-rate optimization solutions combined with greater sources of customer data is pushing the boundaries of what is possible.
According to Gartner, the average brand already spends 14% of its marketing budget on personalization, and most plan to increase that spend over the coming years (source: Gartner for Marketers – Making Personalization Pay).
Without dwelling on definitions, personalization strategies can take many forms: From simple block-based message segmentation to dynamic content optimization (DCO) deployed across real-time programmatic ads. Or inbound website personalization at the anonymous persona level (“personification”) or at the individual (1-to-1) level…
The result? A seemingly endless combination of segments, contexts, channels and touchpoints to serve. No matter the business goals or the execution approach, lack of time and resources to sustain the required content variations limits what marketers can achieve.
Up close and personal with a DAM
The need to support the customer experience across all channels, of which personalization is a key component, is fueling continued demand for enterprise DAMs.
Digital Asset Management is a key enabling technology that is uniquely placed to help brands achieve their personalization goals. There are multiple reasons for this.
Let’s take a closer look at how a DAM can take the frustration out of personalization.
Overcoming content bottlenecks
One of the core added values of a DAM is to automate and streamline the branded content production, management and distribution lifecycle.
A DAM at its heart is a central hub with reliable processes to manage sales, marketing, and communication content and media of all types.
Whether you are looking for a smarter way to handle existing content proliferation or a way to ramp up production, a DAM can offer more predictability, productivity, and cost savings.
The following are examples of how a DAM removes personalization friction and improves time-to-market:
- The collaboration, review, and approval cycle is automated.
Content and media is presented in a form that everyone can review, especially partners or legal reviewers outside the company.
- The right content is easier to find and use, right when you need it.
AI performs the heavy lifting of tagging – even within video files. A modern, consumer-grade interface makes it effortless to surface relevant content.
- The right content is also available exactly where you need it.
Thanks to tight integration with creative tools, such as Adobe Creative Suite, and office automation tools, such as Microsoft Office 365, creative users and casual users alike are empowered to pick and personalize content without breaking their stride.
- Self-service fulfillment is possible.
It’s much easier to create personalized content kits and collections and to enable local marketing operations. Local teams and partners benefit from templates to quickly produce content variations and translations while adhering to brand guidelines. It’s easy to set up ad-hoc brand portals and brand centers.
Added up, users typically report more than 10% saved in content production and management costs and a 10% boost in productivity across the board.
Power personalized marketing strategies at unlimited scale
The role of DAMs in personalization does not stop at helping teams become more productive. They help brands seize the opportunities afforded by omnichannel retail marketing and commerce.
An enterprise DAM is equally at home in powering personalized digital experiences directly thanks to its role in feeding other customer-facing systems:
- Automated content delivery:
Thanks to APIs, a DAM can automate distribution of content and media across a variety of solutions and touchpoints (ad servers, marketing automation / campaign orchestration, social media management, CMS and commerce platforms, conversion-rate optimization and personalization solutions…)
- Adaptive rendering:
Content is no longer a limiting factor. Fine-grained, real-time contextual personalization becomes possible, thanks to the ability to perform adaptive rendering. This is the ability to automatically create media variations and derivative content at scale for display advertising, social, eCommerce and mCommerce formats, different bandwidths and screen sizes, etc.
- Smart production of variations:
Wedia’s DAM has some more AI-powered tricks up its sleeves to help: It can automate tedious tasks that are essential for personalization such as “smart cropping” based on point-of-interest, background removal, color substitution, and even video subtitling… It also handles specific applications such as Mobile Ready Hero Images, a special category of mobile-optimized media that requires optical character recognition and sophisticated image recomposition to produce.
- Dynamic, atomic content assembly.
Simply put, atomic content is the dynamic assembly of small, modular elements of content and media. Whereas content is traditionally managed in terms of output formats, DAMs make it possible to make and manage an atomic content library that can be invoked and assembled on the fly based on context, customer data and business logic. With smart, automated tagging and real-time, API-based access, atomic strategies become feasible at scale.
An illustration of DAM scalability
Wedia’s DAM powers the content media pipeline of the world’s #1 sports retailer and tier-1 e-commerce player. It serves personalized media, including video, within a business-critical e-commerce environment, across 5 continents, 40+ systems integrations, 24/7/365.
Orient your production efforts based on how audiences engage with personalized media
For most marketers, measuring the value of personalization means measuring an improvement in conversion rate. This holds true for two-thirds of marketers (67%).
For personalization to be a success, relevance is key. It is essential to get insight as to which content is working and how customers are engaging with it.
You already get audience and traffic data from your web analytics tools, but with the exception of hits and downloads, you lack insight (reports, KPIs…) at the media or content level. Sound familiar?
A DAM can help you better understand the customer journey and guide content production based on a data-driven, cross-media view of how audiences engage with media.
By collecting data on the actual variants served, you can understand how different audiences consume and interact with them, by context, and by touchpoint. This approach complements analytics that you may already benefit from at the web analytics or attribution level.
Furthermore, with the rise of privacy legislation such as GDPR and CCPA, and the increasing difficulties around cookie-based tracking, server-side approaches such as this make even more sense.
Finally, on the production side, you can reconcile internal content production metrics with actual consumption and engagement metrics. This provides you with a complete view of the health of your digital asset lifecycle. Finally, it helps you orient your personalization efforts and production budget based on what is really working for you.