Keeping your customers happy should be at the heart and soul of almost every business decision you make.
Why? Because retaining customers by keeping them happy is much, much more profitable than going out and trying to acquire new customers.
In fact, according to HubSpot, a mere 5% increase in customer retention may lead to an increase in profits of 25%.
That stat alone should have you scrambling to find ways to improve your customer experience ASAP.
There are many ways you can improve the customer experience within your business — such as Improving your brick-n-mortar shops, making it easier to buy online, providing fast and convenient customer support, and rewarding loyal customers.
Another lesser known method is to build on your customer experience by using a Digital Asset Management (DAM) System.
Let’s break down how a DAM will help increase your customer retention and improve the overall customer experience.
The customer journey process — consisting of awareness, evaluation, buying, using, and loyalty — can be greatly improved by using digital asset management.
Using a DAM system, you can effectively tag, send, find the right digital assets and media throughout your organization. This ensures that the right assets are displayed to the right customer during their journey from awareness to repeating their purchase.
To illustrate this, let’s look at an example.
A national apparel company just contracted a photoshoot to highlight their new fall lineup. The photos turned out great and the marketing department wants to leverage the photos by posting them on billboards along the highway.
Because they are a national company, they have unique fall lines based on the geographic location of their stores.
So, in order to match up the right photos with the right location, they need to be able to find the correct apparel for each billboard location. Each billboard should include items from the fall line that will be available in the stores local to the particular billboard.
A DAM will help them do this seamlessly since they’ll be able to easily file the images away with tags and metadata to understand and search for the photos based on the availability of the product geographically. (i.e.
A customer will become aware of the new fall line via the billboard and will then go online or to a store and see the same clothes they saw on the billboard ad. This will help keep things consistent during the customer journey, and therefore improve the customer experience.
A DAM will help you personalize your messages better — whether it’s in emails, social media posts, kiosks, websites, and more.
A digital asset management system allows you to house all of your digital assets in one central hub.
This is crucial because you’ll be able to find the right digital media much more efficiently than other methods (i.e. emailing a certain department for images or a video). This is very important for larger companies where there are many people who need access to many different assets.
Email marketing, social media, customer service, and print marketing teams can then locate the right assets they need for whichever project or task they are working on in no time. Not only that, they can convert and download the asset in the right file type and save new versions of an asset to the DAM if they need to make any changes.
Looking back at our fictional apparel company, if the email team is sending out mass emails to female buyers, it is important that the images correspond to the recipient. In other words, feature women’s products.
They can get even more targeted by sending out emails about their winter boots sale to women who have recently purchased winter apparel. As long as they are effectively using their DAM system to properly tag their assets, the email team will have no trouble finding the assets they need and fast.
A DAM system will also supply your business with data and insights into which brand assets are performing best.
Whether you’re trying to find out what digital media is leading to the most engagement, clicks, or conversions, a DAM will tell you everything you need to know in order to optimize your customer experience channels.
By avoiding assets that haven’t performed well, you can better cater your content and customer experience to what plays well with your audience.
To learn more about DAM and how it can impact the customer experience, contact MediaBeacon.