How Much Do Digital Asset Management Systems Cost?

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by Lumavate | Last Updated: Feb 11, 2024

Digital Asset Management tools include systems that help with just that, and so much more. In this post, we'll take a look at some of your most burning questions, including the top digital asset management systems, digital asset management companies, and digital asset management pricing.

At the end of this comprehensive guide, you'll better understand how to select a low cost digital asset management solution that is right for you and your brand.

What Is a Digital Asset Management System?

First and foremost, a DAM is a crucial solution that helps you and your team to store, organize, share, and create digital files and stunning visuals, all in one location. Your digital asset management (DAM) solution should be a lively hub where business users gather to manage and distribute digital assets.

What are some things you can store within a DAM? Images, videos, audio files, documents, user manuals, guides, and other branded content. Your DAM isn't just a means to make your organization more efficient, it’s also a great way to share things with your vendors, suppliers, channel partners, and agencies.

Think about your company's plethora of files — all the brand magic that makes it tick. Without a DAM, it's like hunting for a needle in a haystack. DAM steps in with its smart tags and categories, making finding the right stuff a piece of cake.

This also prevents data silos and fragmentation, which occurs when your team saves everything they need locally but forgets to update the version with the rest of the team, department, or company.

Do I Need a Digital Asset Management System?

Digital Asset Management systems and tools are incredibly beneficial for your marketing department, especially within the manufacturing, consumer packaged goods, or medical device industry. Retailers and distributors can leverage the power of a DAM to up their marketing game and set your products apart.

You will need a proper DAM system to store everything in one place. If everyone has a centralized location they know and trust, it becomes a source of truth that boosts confidence within your brand, internally and externally. No more getting lost in spreadsheets, static PDFs, or locally saved files.

The ability to tag within a DAM is unique in searching the digital wilderness of your branded content. DAM turns your digital library into a search engine that can be called upon at any time with the proper tags, especially for photos. 

Your website and product catalog must be dynamic to differentiate from physical or static displays and catalogs. A DAM ensures they're always up-to-date and synced across all channels. Update an asset and watch it ripple through all digital realms, keeping everything sharp and up-to-date.

You can curate your top assets with brand portals and share them with your marketing dream team, agencies, or partners. Collaboration has never been this smooth.

How Do I Choose a Digital Asset Management System?

If you're starting on your journey toward selecting a proper DAM solution, you should consider some key questions with your team:

What are we trying to solve? First things first – what challenges are you battling? Identify the problems you want your DAM to solve. Top digital asset management companies like Lumavate can do it all. You can combine the benefits of a DAM with Product Information Management (PIM) and Digital Experience Platform (DXP) systems to organize your digital assets and product data and combine them to create stunning digital experiences.

What does our inventory look like? Take stock of your digital files. How many assets do you have, and what kinds are they? Are they images, videos, documents, or a whole digital experience structure? Knowing your assets helps you find a DAM that can handle what you need it to do.

How can we structure our taxonomy? Look at your current topological structure to determine how you want to organize your assets. If files and folders are currently all over the place and there is no central place to store them, a good DAM helps you waltz through this without stepping on your data's toes.

What other systems are vital to us? Your DAM doesn't live on a deserted island; it needs support. Consider what other systems your DAM should sync with. Compatibility is critical whether it's your CRM, CMS, or PIM. Lumavate is a fully functional Product Experience Management (PXM) platform that comes fully integrated with its ecosystem and takes less than a day to set up.

How are we using our assets? Where are your digital assets headed? Some will stay permanently on your website, while others might go on a world tour through your effective marketing campaigns. Your DAM should know the travel plans of your assets and help guide them there correctly.

How Much Do Digital Asset Management Systems Cost?

Figuring out digital asset management cost can be challenging, as it varies considerably based on all the bells and whistles that come with the DAM. The price tag hinges on the chosen solution and its bells and whistles. Would you prefer an on-premise solution or a cloud-based marvel? The choice is yours, but it does sway the budget considerably.

When conducting a digital asset management cost comparison, the range is unlimited and daunting. DAM solution costs can range from a humble $1,000 to a grand $250k+ annually.

Brandfolder pricing, for example, is not transparent on their website. They prefer to get you on the phone with an account manager to sell you a specific product, the fancier, the pricier.

Lumavate: Your End-to-End Solution

Lumavate is not just a DAM but a full-fledged PXM powerhouse. With Lumavate, you're not just getting a DAM solution; you're acquiring a comprehensive solution with a built-in DAM, PIM, and DXP with text messagingintegrations, and a form builder. It is an entire marketing that comes in a box and gets set up in less than a day.

Lumavate is typically 75 percent more cost-effective than other solutions. With bi-weekly updates, there's always something new coming down the pipeline.

Worried about hidden fees? Lumavate believes (and takes pride) in price clarity, with pricing listed right on the website. There are no secrets and absolutely no surprises – just smooth sailing into the world of DAM without breaking the bank.

Demo Lumavate today to take your first set towards a centralized source of truth for your company's future.

See Lumavate in Action

Meet with one of our experts to see how easy it is to centralize your product data, manage digital assets, and create digital product experiences. Trust us…you’re going to be wowed.