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Digital Asset Management for Small Business

The world is shifting from physical paperwork to digital documentation. Digital assets are becoming an integral ingredient of success for both large and small businesses. However, small businesses have been stuck in different challenges while competing in such a dynamic environment. However, it does not affect the fact that for a small business having digital assets, a digital assets management system is inevitable if they want to stay competitive.

Moreover, small businesses eyeing growth; cannot turn their eyes off to adopt DAM. With increased digital asset production and channels of distribution increasing substantially, this is where DAM comes into play.

Just like any other business size, a digital asset management system makes things easier for small businesses to manage digital assets in a well-informed manner. The magnitude of adaptability is relatively small but the benefits are larger.

Moreover, the importance of DAM remains consistent with small-sized businesses as it helps improve the security, productivity and efficiency of business assets.

Let us have a deeper look at how DAM can positively influence a small business and, how and why you should choose a digital asset management system.

Types of Digital Assets in reference to different businesses

Irrespective of the size of the business, digital asset types remain the same. Every business can have any kind of digital assets in this era to thrive online. Small businesses can include the following assets.

  • Text
  • Images
  • Videos
  • Spreadsheets
  • Logo files
  • PDFs
  • Company profiles etc.

Impacts of DAM on Small Business

Digital asset management for small businesses can have a significant influence, as they want to compete against the giants. Thus, teams at smaller businesses should be agile in publishing content. For instance, digital businesses in remote setups, have difficulty in accessing digital assets could disrupt operations.

Moreover, poorly managed digital assets lead to inefficiency, and reduced speed and hamper customer experience. Contrarily, DAM can help you easily navigate these problems as it enables stakeholders to organize and access digital assets through a centralized location.

Here are key benefits that digital asset management brings for small businesses.

  • Centralization of digital assets
  • Ensuring cross-team collaboration
  • Automating asset approval workflow
  • Improving asset security

However, these benefits are only possible if you choose the right DAM system. As a digital asset management system is not a one-size-fits-all software, so understanding the business and developing system is essential for long-term success.

Choosing DAM for Small Business

The conversation of having a digital asset management system for a small business is convincing that it is critically essential to have one. However, the next step is even more critical, as you just cannot buy a DAM and apply it to your system.

There are a lot of things to be sorted out before you can finalize a system. Here are points of consideration that every small business should consider in a digital asset management software for small business.

  • Easy Integration

One of the key aspects for a small business to consider in any DAM is its ability to easily integrate data between existing and proposed new systems. Moreover, you can also use third-party software to make this integration easy.

Likewise, the future flow of data between systems is also a major point of concern and should be addressed while selecting a new system.

  • Storage 

The next point to consider while choosing a DAM is to check its storage capacity. Like, you can store it in your office in hard drives, or use cloud-based storage systems. It is dependent on your personal choice, but we suggest using cloud-based storage as it brings more pros than cons.

Luckily, almost every digital asset management system offers cloud storage, there it is not an issue.

  • Security

Another vital point to check in any DAM is its security feature. Since, digital assets are your intellectual property, thus safeguarding them from unauthorized access is vital for brand image and consistency.

Therefore, seek a DAM that offers top-notch security protocols. Any system that is immune to cybersecurity attacks is the best one.

  • Assets Tagging

A good digital asset management small business should ensure easy tagging of digital assets. Since these tags will determine the ease of finding them when required, thus a good system always supports simple tagging.

Moreover, this tagging becomes vital with increasing asset quantity. The sorting and classification of digital assets will ensure timely responses to your customers, thus improving your customer satisfaction.

Likewise, DAM should also use metadata for sorting assets whenever required.

  • Media Transformation Capabilities 

Small business-friendly DAM has a built-in editor, thus equipping users to make necessary adjustments while uploading assets to their online platforms. It is vital for faster content workflow. Moreover, it allows real-time cropping, automatic resizing, and retouching options.

  • Pricing

Since small businesses have limited budgets, therefore price becomes a vital part of the DAM selection process. Luckily, numerous DAMs can easily meet your desired budgets. So, all you need is to define your goals and request DAM company provide you with their quote.

The best digital asset management software for small businesses should come up with a solution to meet your budgets.

  • Ease of Use

Since small businesses do not have a workforce or specialists to run their digital asset management systems. Therefore, they must focus on implementing a system that is easy to use. 

Moreover, a complex system would leave them in hot waters and could potentially cause a loss of customers. So, you must interact live with the system through demos and select the one that has an intuitive user interface.

Implementing Digital Asset Management System in Small Business 

Another key point for digital asset management for small businesses is to outline the process of implementation. Since the implementation phase is so critical it can make or break the game for you.

Therefore, it is important to develop a well-coordinated strategy that will keep all key aspects of your business in sight before starting the implementation. 

So, Following are the steps that are required to have a successful DAM integration into your small business: 

  • STEP 1: Outlining Goals 

Why do you need a digital asset management system? You need to write down the main outcomes you want to have from the software. Since every business has different objectives, therefore, their requirements will change accordingly.

For instance, if the goal is to improve the digital communication system, you can go for cloud-based communication systems. Or if you want to improve the process, you can adopt a process management system. Therefore, define your objectives and get a DAM that satisfies these objectives.

  • STEP 2: Identify Criteria

Identifying criteria is another vital step in deciding any DAM. You can consider the below queries while identifying selection criteria.

  • How many users need to access the system?
  • Which hosting option is preferred for your business?
  • How many users will need access to the assets?
  • STEP 3: Performing Content Audit

The audit of existing digital assets will place you in a better position to decide your digital asset management system. The audit will include knowing what your existing assets, are and how they are used and created.

Such an audit will enable you to establish requirements thus offering the best return on your investment.

  • STEP 4: Organizing Digital Asset Lifecycle

You need to understand the life cycle of your digital assets, as it will help you design your DAM accordingly. Here are the key stages of a digital asset lifecycle.

  • Creating an asset
  • Verifying the asset
  • Checking the quality
  • Entering metadata information
  • Easy retrieval of the asset
  • Easy editing or delivery
  • Exporting asset files
  • Storing and archiving large files
  • Distribution of assets
  • STEP 5: Determine DAM Requirements

Since small businesses will need less storage than larger organizations, it is important to determine your requirements. It will help you spend the right amount of money and will save time. Thus, choose a system that will meet your objectives and needs.

  • STEP 6: Implementing DAM

It is advisable to implement digital asset management for small businesses in small steps. You can arrange a task force to implement the system. Such an approach will be proper implementation by keeping the entire team on the same page.

  • STEP 7: Set up Best Practices

Training the team with the use of DAM will reduce errors. You must also explain the reason for the new system, objectives, and benefits. It will help you develop a culture of shared responsibility.

  • STEP 8: Use Workflows

Workflows will help small businesses reduce operational time. Moreover, having a single repository will also help them focus on the main tasks.

Frequently Asked Questions 

Do I need a digital asset management system for a small business?

Digital asset management systems bring numerous benefits to businesses of all sizes. However, the key is to understand your business needs and implement a DAM accordingly. 

What does digital asset management do?

Digital asset management systems support businesses to manage their digital assets efficiently and effectively. Likewise, it supports them in managing, retrieving, and distributing digital assets simply.

Is a digital asset management system costly for small businesses?

Since digital asset management system comes in a variety of price brackets, therefore, even small businesses can benefit from it. They can select software that meets their budget requirements.

What is the cost of a digital asset management system for small business?

The cost of DAM depends on the functionalities required from the system. For instance, the storage requirements, number of users, and others. 

Parting Thoughts

Digital asset management systems for small businesses as critical in today’s fast-paced business world. Since digital assets are ever-increasing, it is tough for small businesses to keep track of their best-performing assets. Therefore, a DAM becomes unavoidable.

Moreover, it offers control over digital assets and easy accessibility resulting in a better experience. Likewise, better management, affordability, and efficiency make a DAM a vital part of success.

Additionally, small businesses can ask for customized systems that meet your requirements. Thus, making it possible for them to easily train their users.

However, understanding the business needs and objectives can lead to a better selection of a digital asset management system for a small business.

For more information on how estate planning can benefit your small business, click here.

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