BRANDING AUTOMATION is now a thing
You probably didn't read or notice that Bynder, a Dutch DAM software vendor just scored a big Silicon Valley investment.
Cloud Branding Automation startup Bynder scores a US$22.3 million investment from Insight Venture Partners.
That's probably because no one is watching or cares much about DAM, other then DAM vendors. Indeed DAM has an identity crisis.
Looks like Bynder worked that out and have coined the term Branding Automation.
We like it.
Partly because we always saw ourselves as Brand Management System vendor rather than just another a DAM vendor. In our view DAM has always been a subset of a Brand Management System, now of Branding Automation.
First, exactly what is Branding Automation? and second, what does this mean for DAM?
So what is Branding Automation (BA)?
Branding Automation (BA) consists of the organisation, storage, retrieval and distribution of important branding information and related digital files along with their associated usage guidelines and brand standards.
BA helps brand managers scale their brands globally and stay in control of all branded content from its creation and cultivation to consumption, and ultimately achieve end-to-end brand consistency throughout all marketing channels.
Actually we historically referred to this idea as a Brand Management System and you could simply swap "Branding Automation Software" for "Brand Management System" and it would all make perfect sense. Effectively they are the same thing.
DAM is still getting it's time in the sun.
While DAM or Digital Asset Management has an identity crisis, it's also in a pretty good place at the moment. The rise of Content Marketing and the growing demand by Marketing teams for more visual and rich media content is driving more interest in DAM.
Moreover, the growth of the DAM market is also expected to be driven by the cost-effective solutions being offered by cloud-based DAM vendors.
Growth in awareness about the benefits of DAM solutions over conventional content management solutions among organizations is expected to increase the rate of adoption of DAM solutions among SMEs in the coming years.
The DAM market is predicted to be a US$7.5 Billion industry by 2024.
Where have you been DAM?
DAM has been around since the mid 90's.
However, DAM vendors have struggled for years to gain attention from Marketers or establish DAM as a widely used category of software.
Recently, many vendors have rallied behind a global but US centred DAM industry which has tried, but struggled to successfully get sufficient attention.
Many brands simply don't have DAM and aren't looking.
In our view every company on the planet, should be carefully managing every aspect of their brand, should have have some sort of Brand Management System or Branding Automation Software in place, including the smallest companies (who have been mostly priced out of the market).
The future is Branding Automation in the cloud.
Cloud Software as a Service is how Marketers want to buy software today.
BA software as a service in the cloud is available today (from several vendors) meaning, that Branding Automation is accessible, fast to deploy and affordable even for the smallest companies
Branding Automation should be in every modern marketers Marketing Stack.
What CRM and Marketing Automation did for sales, Branding Automation can do for brands. The cloud is allowing BA vendors to deliver solutions and marketers to work faster and smarter, freeing up time for creative and strategic initiatives instead of repetitive administrative tasks. BA lets marketers respond to real-time issues because there is a foundation for brand content, which is accessible and consistent across the business.
BA (and DAM) Vendor Valuations
While we're not overly concerned with valuations. This is the first big Silicon Valley investment in the Branding Automation sector. It immediately increases the valuations of other Branding Automation (and to some extent also Cloud DAM) vendors across the entire industry overnight.
We think that's pretty awesome :)
We've been doing Brand Management System (aka Branding Automation) software as a service since 1997. Longer than most.
At Brandkit™ we focus on core BA features that are important to branding. We don't try and do everything and that's important. Read Marketing Stack vs All-In-One Marketing Cloud.
The number one thing is that a Brand must remain consistent in all communications across the team, markets and across the globe.
So managing, collaborating and distributing a brand's Brand Story, Brand Standards & Guidelines, approved Brand and Marketing Content and doing it well, is 99% of what a good BA solution does.
It's job number one and our focus.
We hope you agree you should have Branding Automation in your life and we hope you come and check us out at Brandkit™.
Happy Branding :)