Create a View that Displays a group of Taxonomy Terms
If you want to group Assets just by the Campaign (taxonomy) image, you can easily set the Grouping feature under Format to the Image field. 

You have to add the Relationship for the taxonomy field first, as you have found out, then you get all the information related to the referenced taxonomy term into the Views. Without that Relationship you only have the Taxonomy term ID available, as the Taxonomy reference field only stores that info. 

When you add the Relationship you can add the Taxonomy image field (Campaign image). Each Asset will then show its associated campaign image in its row. 

That's when you can use Group by field and set it to the Campaign image. This will split the Asset results into Campaign groups with the image field as the "group header". You will still see the image displayed in each row, which you probably don't want, so you edit the Campaign field setting in Views and choose Exclude from display. This way the image will only display in the "group header" and won't display next to each Asset result. 



If you need to display more info about the Taxonomy (Campaign) in the "group header", for example the name, image, and the description, you can add all those fields to your Views, Exclude them from display, and set them all to group by. 

But sometimes the styling that comes out of this strategy isn't good enough, the HTML can be a bit unexpected. You can solve that by using Custom text field after all the Taxonomy fields where you enter your own HTML with the taxonomy field values printed out through tokens. And Group only by the Custom text field. 



I've written an article about this if you need more detail: Grouping by multiple Fields in Drupal Views