Digital Asset Lifecycle: Understanding the Stages of Asset Management

By digital asset lifecycle, we mean the process that every digital asset goes through.

By properly managing it, companies can eliminate chaos in content production, management, and distribution.

Today, it is not wrong to say that every company is a media company. We all have some form of digital content to manage. And the amount of content can be huge! 

That’s where proper digital asset management and understanding the digital asset lifecycle are important. In this article we break down the lifecycle and its different stages.

Every company is a media company

Content cannot be divided into finished and unfinished content only. That’s too narrow a division.

For example, production companies process tons of media files every day. These files are usually somewhere between finished and unfinished. That’s why we have a digital asset lifecycle with its five stages.

Asset management becomes easier when you have the right platform and the lifecycle is fully utilized. When you recognize the stages your assets go through and where they are now, it’s easy to manage even the largest amount of assets.

A solid understanding of the digital content lifecycle will help you track your content and ensure you’re getting the most out of your it.

Digital asset lifecycle is a journey that every piece of digital content goes through

The digital asset lifecycle encompasses the entire journey that content goes through. From its conception to its archiving or disposal. It is a critical process that ensures the content is properly managed, optimized, and utilized for its intended purpose. 

Each stage of the content lifecycle involves different activities and considerations. They are such as ideation, creation, curation, distribution, and retirement. By understanding the content lifecycle and implementing a robust content management strategy, organizations can effectively manage their content and ensure its relevance and value over time.

The five stages of digital asset lifecycle are:

1. Create
2. Manage
3. Distribute
4. Retrieve
5. Archive

Next, we outline the five stages of the digital asset lifecycle and how to utilize the most of the assets at each stage. 

It’s crucial for your digital asset management (DAM) program’s long-term success and the longevity of your created or acquired assets to ensure that they go through each stage of the content lifecycle.

1. Create

In fact, we could also name this stage as the plan and create stage, since planning is a critical part of content creation. Before starting the creation, it is important to find out how the content corresponds to the set goals and whether it complies with the company’s content plan.

Content creation may be the most fun part of the digital asset lifecycle. You probably know what content creation is, but it’s the part where copywriters do their best, videographers make the coolest shots, photographers capture the world beautifully, etc.

2. Manage

Once you’ve created top-notch content, it’s time to manage it. The main objective of the management process is to make sure that your digital assets are available when you need them. 

The best way to manage your digital assets is to store them in a secure, searchable, and centralized location where it is possible to access files easily. If your company is using a DAM, you are able to review, approve, and comment on digital assets there. 

Centralized digital asset management provides numerous benefits. Benefits include the preservation of your brand’s integrity, an increase in the lifespan of your content, and the guarantee that your content is being utilized to its full potential.

3. Distribute

No one creates content without sharing it. Right? Sharing digital content could mean sending it to clients or affiliates to use and publish or sharing it on your digital channels. Either way, your content will probably see the sunlight sooner or later.

Digital asset management systems with easy and secure access and trackable capabilities make collaborating between internal departments and external partners possible. While still maintaining security standards. 

Wide accessibility to digital assets is crucial, as it ensures that teams can leverage them effectively. This ultimately leads to successful project outcomes.

4. Retrieve

Searching for files can be a time-consuming and frustrating task. With DAM, finding the files you need is fast and efficient. For example, Media Pocket provides a wide range of options to refine results. You can quickly locate the exact file you need in seconds. 

And with customizable user permissions, you can control what your users see and ensure that sensitive files are only accessible to authorized personnel.

5. Archive

Archiving may be the most important part of the digital asset lifecycle. Consistent archiving keeps your digital libraries in order. 

First, archiving doesn’t mean that your assets are removed completely. By archiving, you make sure that your content remains safe for the future but does not take up space on your active storage.

Archiving saves space, money, and time. It ensures that your digital content stays safe even if you don’t need it right now. Assets can easily be retrieved and reused in the future.

The DAM system calms the content storm by taking care of the digital asset lifecycle 

The lifecycle of a digital asset is a simple entity. But it doesn’t happen by itself. In order to reach the full potential of your digital content, it is important to carefully organize and manage your assets throughout the lifecycle of your digital assets.

The best way to track your content and ensure you are in control of your assets is to implement a digital asset management system. DAMs ensure that the digital asset lifecycle is complete and smooth.

A complete DAM solution provides all the essential functions from the beginning to the end of the digital content lifecycle. It ensures that you get what you need at the right time.

Book a consultation session with us. We’ll tell more how Media Pocket can enhance your whole digital content lifecycle.