What Is the Best DAM Software?
by Lumavate | Last Updated: Feb 6, 2024
by Lumavate | Last Updated: Feb 6, 2024
The digital asset management (DAM) software market is expected to be worth over $8 billion by the year 2030, and it's not hard to see why. Companies of all sizes and from all industries are turning to DAM platforms to not just manage their digital assets but also use them to their fullest potential.
A digital asset management system enables companies to centrally store, manage, and share images, audio and video files, documents, and more. Such a system is often used with product information management (PIM) software so businesses can store text content such as SKUs and product descriptions along with relevant digital files. Digital asset management software is secure to protect your information from unauthorized access; at the same time, authorized employees at all company branches can access and update digital information as needed. Multiple departments are likely to use your DAM platform, including customer service, marketing, and sales.
What's more, a digital asset management system makes it easy for you to share relevant product information with sales partners. Because the channels and agencies you partner with have easy access to uniform marketing tools, your company is able to maintain brand consistency across multiple platforms. This not only boosts sales but also increases brand awareness and helps you build brand loyalty.
A content management system (CMS) provides the tools you need to create, edit, and publish online content. You can also use a CMS to manage your online content long-term. It's an incredibly useful platform, but it doesn't have the same capabilities as a digital asset management system. A DAM stores your digital files and gives you the tools you need to manage these files and share them with team members, external partners, and your target audience.
Additionally, a CMS should not be confused with a digital experience platform (DXP). A content management system can only manage text content, while a DXP can manage all file types, including images, videos, and file attachments such as owner's manuals, warranty policies, assembly instructions, etc. What's more, you can use a DXP to not only create and manage your website but also design and update product catalogs, automatically update product listings on third-party platforms, generate forms, promote events, and more.
Google Drive is a cloud storage system for storing and sharing files. It's an ideal platform if you need to work on a project with colleagues in two or more locations. It also integrates with other apps, so you can preview multiple file types without downloading files onto your computer.
On the flip side, Google Drive doesn't have tagging or advanced search features. This means you'll have a hard time sorting through information and locating specific information. Google Drive doesn't provide a change log that shows when information was updated and by whom. It's also not ideal if you need to update information automatically or make bulk changes. Only a digital asset management tool offers all the features and amenities you need to properly store and manage all your digital assets long-term.
There are so many DAM vendors to pick from that it can be hard to know which one is right for your business. Well-known digital asset management examples include Adobe, Cando, Brandfolder, Bynder, and Lumavate, but there are plenty more for your consideration.
There are several important factors to take into consideration when looking over the best DAM systems to see which one is the best fit for your needs. First, you'll want to see which features and amenities a platform can provide. Consider not just your current needs but also your future business plans to make sure you can use the platform for as long as necessary. Switching to a new DAM platform can be time-consuming and cause downtime that would lead to lost sales.
Second, it's important to find out how long it will take to get your chosen DAM platform up and running. Adobe, for instance, has a lengthy implementation time, which can lead to delays in streamlining your business and creating successful marketing campaigns. Third, it's wise to consider costs, as some DAM platforms have a hefty price tag and may even charge an extra fee for having their technicians set up your new DAM software program.
Lumavate stands out from other digital asset management companies because its DAM platform also includes product information management tools and a digital experience platform. This three-in-one software program can manage all your product information and digital assets, generate forms and free templates, build websites, promote events, create and update online catalogs, provide custom product recommendations for online consumers, and much more. It's a user-friendly, "what you see is what you get" interface that even people who aren't tech-savvy can learn to use in a matter of minutes. What's more, Lumavate is up to 75 percent cheaper than other, similar platforms and there are no delays in implementation. You simply need to pick a price plan, pay for it, and then start using the platform. If you decide you need more features at a later date, you can upgrade to a new price plan and then start using the additional tools right away.
Adding images to your content increases the consumer information retention rate by well over 50 percent. Shoppable videos have a higher conversion rate than online digital ads and nearly two-thirds of consumers make a purchase after they watch a branded product video. Providing consumers and sales partners with fast access to digital assets as soon as these become available can spell the difference between a thriving company and one that struggles to stay ahead of the competition. However, it's next to impossible to properly manage all your digital assets on your own, which is why you need the best digital asset management software on the market.
Lumavate has the tools and features to meet all your digital asset management needs. It's affordable, powerful, comprehensive, fast to implement, and easy to use. What's more, Lumavate regularly updates its tools to add new features, amenities, and functionalities that help you save time, improve your marketing campaign, and generate sales. Get in touch with us today to find out more about how it works or to schedule a free product demo at your convenience.