Home › Resources › Glossary › Asset lifecycle

Asset lifecycle

The asset lifecycle is the journey of a digital asset from creation or acquisition through organisation, review, use and eventual retirement. For marketing teams, it covers decisions about when an image, video or document is ready to use, when it needs updating and when it should leave active circulation.

Page at a glance

Scope: Covers the asset from creation to retirement, not just its storage.
Responsibility: Make clear who approves, maintains and retires each asset.
Reuse: Recheck accuracy, version and permission before a new use.
Retirement: Expiry, archiving and deletion are different decisions.
In DAM: Keep status and rights information with the file so users can act on it.

HOW IT WORKS

What are the stages of the asset lifecycle?

Teams may use different names for the stages. A practical way to organise the work is:

Create or acquire: Produce the file or obtain it from a supplier. Record its source and the relevant permission to use it.
Organise: Add a useful name, description, campaign and other metadata that colleagues need to find and understand it.
Review and approve: Check content, brand accuracy and the intended use before making the asset available.
Distribute and reuse: Share the appropriate version with the people who need it, and check its suitability for each new purpose.
Review, update or retire: Decide whether the asset remains useful, needs a replacement or should leave active circulation.

This is not always a one-way sequence. A change to packaging, an event date or a campaign message can send an asset back for editing and approval.

IN PRACTICE

Managing the asset lifecycle in DAM

A library needs more than files and folders. Teams also need to know which assets are approved, who owns the next decision and when a review is due.

Asset Bank’s features include configurable metadata, user-group permissions, approval steps for uploads, downloads or edits, and embargo and expiry dates. These support a lifecycle process; the organisation still needs to agree its rules and responsibilities.

Before making an asset available

Record its owner, purpose and relevant rights information.
Identify the approved version and who can access it.
Set a review or expiry date where there is a reason for one, such as an offer ending or a licence limit.
Assign someone to decide what happens at that date.
Consider copies already shared outside the library when replacing or retiring the asset.

Expiry is not deletion. Asset Bank’s notification guidance explains that expired assets can remain stored but hidden from view. Administrators can then decide whether to archive, delete or extend their lifespan. Changing a library record does not itself retrieve files already downloaded.

ILLUSTRATIVE EXAMPLE

Replacing product images after a packaging change

A food brand introduces new packaging. Its marketing team uploads the new pack shots, records the product and launch date, and sends them for review before release.

Once approved, the new images become the current campaign assets. The team identifies the older pack shots and tells its agency and distributors which replacements to use, including on pages where an old image has already been published.

The asset owner keeps selected old images in an archive for reference, clearly separated from current marketing material. Unneeded working files are considered for deletion under the organisation’s retention policy.

Takeaway: uploading the replacement is only one step. The lifecycle also includes approval, communication and a deliberate decision about the old material.

Frequently asked questions

Is the asset lifecycle the same as version control?

No. Version control tracks revisions of a file. The asset lifecycle is broader: it includes acquiring the asset, organising it, deciding when it can be used, reviewing its suitability and retiring it. Version control supports several of those stages.

What is the difference between archiving and deleting an asset?

Archiving keeps an asset for reference while separating it from material intended for everyday use. Deletion removes it according to the system’s deletion and recovery rules. Before either action, check the organisation’s retention requirements and whether colleagues still need the asset.

Who should manage an asset’s lifecycle?

Assign an owner who is responsible for keeping the asset’s status and information current. Creators, reviewers and library administrators may handle different steps, but the team should know who decides whether to update, extend, archive or delete the asset when a review is due.

Sources and further reading

Asset Bank’s A–Z of DAM: terminology and asset lifecycle context.
Asset Bank product features: metadata, permissions, approval workflows and expiry.
Asset Bank notification guidance: expiry and new-version notifications.

Sources checked: 1 November 2026.