The rising demand for video content means that videos are one of the most valuable digital assets for many organizations.
Quality video content has become a powerful market differentiator as it can help organizations resonate with consumers, improve their brand image, improve conversions, and ultimately increase their ROI.
More video assets are being produced than ever before with an ever-growing video file sizes. This has made Video Asset Management (VAM) vitally important for organizations.
What is Video Asset Management (VAM)? Why is it important?
What is video asset management (VAM)?
Video Asset Management (VAM) helps organizations to manage and organize large amounts of video content on a centralized video hosting platform. Centrally storing video assets leads to better organization, enhanced searchability and video security
The discoverability of videos improves on VAM by adding metadata like keywords, auto-tags, and categories on the video assets. Video asset management software makes it easier for employees to find, edit, and collaborate on all video content.
This brings significant value to various internal teams of an enterprise, including marketing, sales, and customer support teams.
Why is VAM so important?
Organizations can ultimately maximize the ROI of their video assets with VAM because it can save them time and money.
For instance, if teams used to spend many hours a week searching for video assets and they spend far fewer hours by using a VAM platform, therefore reflecting profit in an organization as a huge portion of time is saved using VAM.
When video assets are lost, misused, corrupted, mislabeled or deleted, this affects the ROI of an organization.
Video asset management software offers better video productivity with more asset controls resulting in organization cost reductions, cost avoidance, and more strategic allocation of video assets within a company.
When calculating ROI, it is important to consider other factors such as scalability, flexibility, marketing efficiency, repurposing and many other factors. True ROI exists in the effect of VAM on speed, efficiency, and consistency in all the aspects of marketing-related activities for an organization.
Implementation of a VAM system may even bring new revenue opportunities. The accelerated delivery of marketing materials means that a faster response to new opportunities is possible.
Better brand management, consistent messaging and improving partner relationships are some of the more intangible benefits of video asset platform.
Difference between Digital Asset Management (DAM) and Video Asset Management (VAM)
The main difference between a DAM and a VAM is in the scope of the digital assets they cover.
Where DAM has to do with other assets as well as video, VAM relates solely to video.
Digital Asset Management (DAM)
Digital Asset Management (DAM) solutions give organizations a way to store, organize and manage all their content using a central library.
A DAM system supports upload, search, and transformation functions for a wide range of formats.
Digital asset management streamlines the whole content life cycle and creates efficient workflows so teams can be most productive and meet larger business goals. Digital assets may include documents, photos, audio files, videos, and more.
A DAM works well for organizations that rotate and store vast quantities of documents and images, and maybe a number of small videos too.
Some of the benefits of DAM solutions are that once materials are stored in the system, they are secure and easy to find and internal content collaborators and external partners have immediate access to materials.
Cross-team collaboration is easy on digital asset management, which prevents costly miscommunications. Video analytics tools in DAM can help track the use of assets to inform system optimization and influence content creation decisions.
Video Asset Management (VAM)
Businesses now often have so many video assets that keeping track of them on an internal server or using a cloud-based solution can clog up storage.
It becomes difficult to find video files, and continuously editing and re-uploading to the cloud is inefficient. Too often, stakeholders find content in the wrong format, or there are many versions with no indication of which is the final one.
Video asset management (VAM) offers the solution to all the video issues that organization face like storage, uploading, organic video searchability, video encryption, integration and video analytics.
VAM solutions are designed specifically for videos and functionality goes way beyond the basic store and search functions.
As larger teams increasingly need to collaborate and use large quantities of video, they are turning to VAM for more visibility and productivity.
7 reasons why implementing VAM is crucial for your organization’s ROI and performance
A video asset management system can be very beneficial but it isn’t a substitute for using best market practices.
It is important to define your business goals and how you want to use video asset management software to accomplish them.
As implementing any new system costs time and money and organizations want to make more than they spend, it’s important to make projections about how much it will save and how much added revenue it can generate.
Getting a higher ROI in a enterprise is based on making informed decisions.
Following are the 7 reasons that show why using VAM can help an organization improve its ROI and video performance –
- It offers you complete control over all your video assets
- VAM improves efficiency of teams
- It enhances video accessibility
- It promotes video security and video encryption
- VAM integrates with other management systems
- It promotes brand awareness
- Video Asset Management offers access to advanced video analytics
1. It offers you complete control over all your video assets
A VAM puts your organization in complete control of the way it creates, distributes and monetizes video content. When you can intelligently manage a video library, it enhances the use of video assets in many areas such as marketing campaigns, optimizing customer experiences, staff training and communication.
All of these functions contribute greatly to success in today’s competitive market.
Uploading videos to sites like YouTube in order to share them opens the door to various issues. With YouTube you relinquish full control over your video assets when you do this.
It also means that viewers will often watch recommended videos rather than going to your website, so this doesn’t contribute as much to your bottom line as to when you can avoid such distractions.
2. VAM improves efficiency of teams
Teams today don’t have the luxury of spending large amounts of time searching for video assets.
A video asset management platform allows teams to store all video files so they can easily access them from anywhere at any time.
The time it takes to find video files can add up, especially when they may have several versions or revisions. Speed and turnaround time are very important for businesses to remain competitive.
Having a centralized library that contains all your video assets means teams can quickly upload, find or share any video file.
Marketing and sales teams, for instance, can meet their key marketing objectives when they can easily find the right video for prospects at different stages of the sales funnel.
It is not enough to just create videos – it is important to link them to specific market segments and access the right ones at just the right moment. For instance, using video in sales presentations may not only save time and money but also make the presentations more effective and successful.
It helps if teams can search specific items with the help of metadata and keywords. When teams can use video more efficiently, this increases an organization’s productivity and profitability.
A marketing team can create video assets quickly and get fast approval which is much more efficient than wasting time on a long and inefficient review process.
3. It enhances video accessibility like subtitles, metatags and video chaptering
Not being able to find required video assets often results in the unnecessary reproduction of similar assets.
Video management solutions help to reduce the wastage of reproducing already existing assets and cut costs.
VAM can also save time with tools that make finding videos in a library easy.
Manually sorting through archives isn’t the best use of paid time. Essential features that help teams to classify, organize, search, and retrieve videos may include powerful search features, metadata creation tools to categorize video content, and tagging.
Your media player should allow you to add closed captions to video, add transcripts and video descriptions. Subtitles can make videos accessible to more individuals, including those who are hard of hearing or speak a different language.
Video chaptering is a feature that allows users to quickly find the content they value most within a video.
4. It promotes video security and video encryption
Video production is usually a combined effort and with multiple contributors and others needing access, it is important to protect precious intellectual property (IP).
Company meetings, subject matter expert presentations, and compliance training is often business-critical. Managing access for different users and groups and setting roles and permissions can offer the appropriate level of secure control.
Access control lists mean the right videos are visible only to the right employees.
A security feature like domain lock can ensure that video content only appears on specific domains. By password protecting videos, it restricts unauthorized users from accessing them.
SSO ID management means that employees can log on using credentials they already use to view videos
5. VAM integrates with other management systems
When video asset management is integrated with your other automated management systems, this has great benefits for your organization. It makes it easy to leverage video almost anywhere. Teams can share videos in Slack and simplify workflows for sharing recordings of meetings.
VAM integration can add training videos to an LMS and track employee completion rates. Teams can also include relevant videos in email marketing campaigns or when sharing on social networks.
By automatically uploading recordings to your secure video portal, they are easy to find, stream, and share on-demand.
Knowledge-sharing sessions and discussions, for example, often contain a wealth of information. It is possible to capture this information in a video and make it available anytime and anywhere as video-on-demand.
6. It promotes brand awareness
Add your logo and set your colors to make your video portal and interactive video player a true extension of your brand. You will present a consistent, memorable brand image to consumers across all channels because stakeholders will all be using and disseminating the same branded files.
If you use YouTube and other free video hosting sites, you will only have limited customization options and fully removing the YouTube branding isn’t possible.
Your VAM must be versatile and flexible enough to enhance effectiveness in promoting your brand goals.
For example, streaming live video is an important way to improve intimacy with customers and cultivate online communities to support your brand. High-quality playback and reduced buffering is necessary for this.
7. Video Asset Management offers access to advanced video analytics
The ability to measure the performance of video assets is essential. Advanced video analytics offers data on how videos are consumed.
What videos do users watch, how much do they watch and do they drop off at a certain point.
Are there certain parts of a video that engage them more than others? Metrics like this can offer useful insights to inform marketing efforts.
For instance, marketers may use scoring to segment prospects, giving higher scores to those who complete videos and watch more videos. Analyzing data maximizes performance by informing commissioning, editing and distribution decisions.
Use Video Asset Management to broadcast and publish your online course video content
Online course platforms often rely significantly on videos. The efficacy of video use in online courses is proven and the vast majority of viewers prefer watching video to reading text.
Using VAM offers online course creators many benefits in terms of elements like branding, security, analytics and support.
Customization is important to give online courses maximum brand exposure. Using video asset management means being able to add a logo or watermark to fit the brand style and customize player controls.
Reliable delivery on all devices is essential and in all locations is essential. Online education platforms need to know that no matter where users watch videos or which devices they use, the videos load quickly and look their best. Online course creators want consistency and seamless playback no matter where they choose to distribute videos.
A video content delivery network (CDN) consists of globally distributed servers that speed up video content delivery. Streaming occurs from the closest server to the device of the viewer so there’s no lagging or crashing.
Live streaming presents an efficient way to offer video content to a large number of people at the same time.
Video-on-demand means video content that is live streamed can be saved and watched later. Those who were unable to follow live online classes or want to review a class can easily do so.
A well-organized video library makes it easy to view, organize, edit and analyze videos. Content managers can assign and track permissions or make security changes to many videos at the same time. Copying, duplicating, and downloading video content should be easy.
Detailed video analytics are necessary for online education platforms to know more about their audiences. Video analytics allow them to find out specific data such as IP addresses, locations, viewing times, devices and platforms used, and average engagement.
Video security measures are essential when broadcasting and publishing online course content. You only want people to whom you give permission to see videos. Screengrabs of your video assets could give away private business information such as the software you use or your business structure.
Video encryption secures videos through codes and passwords to keep them safe and makes them available to users with permission by decoding for them.
Another way people can copy your video content is use a video screen capture tool. Students may even unknowingly record a screen during a presentation and then distribute it on other platforms.
By protecting videos with watermarks or logos, someone capturing a screen won’t matter because using it commercially won’t be possible.
Ensuring that video content is secure means you can scale without worrying about security issues and data loss.
You must maintain control over your organizational revenue streams if you want to grow because someone can download course materials and profit from them by redistributing them.
YouTube may offer wide reach but it should not be used for premium course content. People can gain access to course content too easily and put you at risk of losing income.
Compliance with data privacy regulations is essential when promoting online courses so viewers know their information is secure.
Integrations can help online course creators to offer high-quality video learning experiences, such as integrating a learning management system (LMS) with a video hosting platform.
Integration with an email management system can help with incorporating videos into emails for prospecting, follow-ups, referrals etc.
A significant benefit of video hosting platforms is faster deployment which allows organizations to take advantage of market opportunities sooner and realize increased revenue as a result.
Hard cost savings, more business process efficiency and the ability to take advantage of emerging marketing opportunities are some of the contributing factors to ROI and this can help to justify the use of video asset management.
There is no simple way to measure return on investment. Every organization has its own priorities and opportunities for improvement can be found through the entire product or service lifecycle and includes many different activities.
Understanding fully how and from which areas the sharing of video assets can have a positive effect on ROI means conducting a comprehensive review of each category.
What is clearly evident is that a video asset management system is an all-in-one platform that takes the difficulty out of producing and managing a video library which can have a significant effect on performance and ROI.
Widespread adoption creates a ripple effect in which ROI grows alongside increased utilization.
Enterprises and organization must use a video asset management platform to protect their video asset and improve the ROI on videos over a long period of time.