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The 5 Types of Digital Assets

01/20/2022 05:01:06 +0000
A digital asset, simply put, is a digital file that offers value to a company. A text document, a graphic, a logo, or a file holding the whole website code are all examples of digital assets stored on computers or in the cloud and used by businesses. Because this is a large category, assessing opportunity cost is involved. And this is a broad definition.

 

A digital asset is not always the same as a digital file. A digital asset is not a text document on your hard drive that contains only your name, the name of your organization, and a pertinent phone number. Digital assets are graphic files containing information that is formatted to be printed as a business card. It is unique in that it can be sent out or printed, and distributed to promote you and your business and company.

 

There are five types of digital assets that are significant to most businesses. Some have subdivisions, but the five major types are the most useful.

The Five Types of Digital Assets
Documents
This broad category includes everything from text documents to spreadsheets to PDFs. One example is a spreadsheet providing a record of all sales for a quarter, grouped by product. This is a useful and valuable document used in various meetings and for future business strategy planning. Another example is the corporate handbook, which is a PDF that provides an organization's rules and procedures. Employees can refer to it at any time or print a copy for their own use if it's kept in a central digital location.

 

Digital assets include presentations that are utilized for sales and marketing. Everyone can use word Documents, Slide Decks, PowerPoint Presentation, and even Google Docs. These file formats, like PDFs, may be transformed into high-quality photographs, making them ideal for presenting business partners or clients in a formal setting. Spreadsheets are also valuable assets. They are now available in formats other than .xls. Spreadsheets can now be saved as .csv files, opened in any spreadsheet program, including Microsoft Excel, Google Spreadsheet, and Open Office Calc. Depending on your operating system, other typical spreadsheet types include .123 and .odsfiles.

Graphic Design
Logos, business cards, and social media templates are all examples of graphic designs that are extremely significant digital assets. It's critical to keep them in a secure digital asset management system so that those who need to use them, such as designers and marketers, may do so at any time and from any location. This category exemplifies one of the most important characteristics of digital assets: their reusability. For that reason, they must be available within a well-organized framework.

 

Graphics cover everything from logos to branding materials and are crucial assets. If you have designers in your company, they will be dealing with a variety of graphic files, including proofing files, work in progress, and archival work. A good graphic design can help a company obtain a lot of awareness, leading to more sales. Attractive images, clear conveyance of ideas, increased visibility, and increased trustworthiness help drive traffic to your brand. More traffic means more opportunities.

Decks or Formatted Cards
PowerPoints, slides, decks - whatever your company calls them or what software it uses to create them, this asset category is an essential component of doing business in the digital age. A deck is a digital presentation typically organized into horizontally formatted cards and used as part of a sales presentation. When bidding for a client project, creative agencies may create a deck that includes examples of the work they plan to execute, a budget breakdown, and other information.

 

A deck is a business presentation used by entrepreneurs or firms to give potential investors, such as venture capitalists or angel investors, a streamlined but informative summary of their company or startup. These, like good images or graphic designs, can be reused in whole or in part. It's crucial to keep track of previous decks so you can refer to them when making new ones. A deck can help firms and entrepreneurs attract investors by providing a detailed but concise organizational overview. Understanding the components of a great deck might assist you in getting the cash you require.

Images and Videos
Photographs and videos are used by almost every type of business, whether on social media, marketing materials, or on websites. Commercial photographers and videographers no longer use film cameras; everything is digital. Assume you work for a baseball team as a manager. You could snap a picture of some of your players training with your iPhone and share it as a Facebook story, but it's unlikely to be effective in the long run. It's not even close to being a digital asset.

 

Let's pretend you've hired a professional photographer to attend a game. They shoot hundreds of images, send a few exceptionally good dozen, and have been quality-edited. You save these to your preferred platform, such as google drive, and then utilize them on your website, in emails, and across social media. This is a collection of digital assets. Having high-quality photographs will help potential customers learn more about your company and its employees. Using high-quality, professional photography and video material on your website, social media, and other digital platforms not only engages readers but also boosts your online presence.

Audios / MP3s
This category is very similar to the photo and video categories. It includes any audio track with special significance to a company. For instance, a recording of a customer interview will be transcribed and turned into a case study. Another example is audio recordings of all-hands meetings at a corporation. You can also use an audio asset for product explainers or podcasts to help tell your company's narrative. You can also employ speech-to-text tools to convert current videos into digital audio assets that they may use in other areas of marketing, such as layering for product launches or onboarding training.

 

Listening to others and being heard is vital in all facets of life, but it is extremely important in business. Effective teamwork and a deeper grasp of customers' demands require greater communication. Yet, while digital technologies quicken the speed of modern business and allow for more agile, flexible working methods, communication is all too often the weak link. Gen in touch, make contact, and actual contact. When we talk about communication, there's a reason why we think about getting closer.

Final Takeaway
Although all digital assets have value, not all digital assets have equal worth. Some, in fact, are irreplaceable, with a worth that considerably outweighs the cost of production. Consider digital assets that you can't duplicate, such as images or films of once-in-a-lifetime occasions. These assets are more valuable to a firm or a person than assets that took time to build but can be recreated with a little time and effort. Digital assets assessing opportunity cost is involved.
A Little Bit of Advice to our Aspiring Entrepreneurs
Starting a business is a continuous process of learning and growth. It's critical to develop both practical and emotional abilities. Check out Aspiring Entrepreneurs, blogs, podcasts, courses, and books are offered by our very own business expert Sophie Howard.
About the Host
Sophie Howard is the founder of Aspiring Entrepreneurs, a community designed to help people develop the skills and confidence to build a business and a life that serves them. Sophie began online in 2013 with an Amazon firm, which she sold for more than $1 million in 2015.

Sophie has lectured on stages all around the world, encouraging and teaching other ambitious entrepreneurs. She has established instructional programs educating thousands of students how to sell online, in addition to releasing over 1000 products.

Sophie has also written a book titled "Aspiring Entrepreneurs: A Guide to Finding Your Best Path to Financial Freedom."
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