The numbers don’t lie. The printing industry entered 2018 with sales of approximately $84.0 billion, 9.1% above the 2011 low, but still 14.6% below the 2007 pre-Great Recession level. As the printing industry continues to evolve and change, what are you doing to develop a corporate growth strategy in changing times? We’ve compiled a few tips to help you focus on how to grow your business in 2019.
Tip 1: The Details is in the Data
There is no doubt that personalized integrated communication is the future. Customers now expect one on one communication via print as well as online. Marketers and Printers need to collaborate together to seamlessly deliver this experience to end users. Can you deliver? Ask yourself the following questions:
- Have I invested in my database structure?
- Do I have the right people in place to facilitate data management on print projects?
- Can I execute a variable data project flawlessly?
If the answer is “No” to any of the above questions, then make this a priority for 2019. Data is not going anywhere. You’ve probably heard the term omni-channel before, so here’s the scoop: data is at the heart of every good omni-channel strategy.
Tip 2: Invest in Talent
Have you heard of the silver tsunami? By 2022, more than 25 percent of the U.S. workforce will be 55 years old or older. Every day, nearly 10,000 baby boomers have reached retirement age; in fact, the average print industry employee has between 20-30 years of experience. Because of this, investing in talent is a necessity if you want to grow and thrive. Jake Walker, Vice President of Print & Marketing Automation at Vision Graphics, Inc. gives some excellent insight in “The Biggest Threat to Print” and discusses how you can craft your talent strategy and what you can do to combat the print industry talent shortage caused by the silver tsunami.
Tip 3: Customer Connection
Connecting with your customer in new and different ways will be even more crucial in the next year. Stop thinking of yourself as merely a printer and more of a print industry expert. Think about how you are currently solving your customers’ problems. For example, do you have new customers that may not have a good understanding of print and how print technology works? Become their personalized print industry expert and help deepen their knowledge of how to buy print and get their projects produced with exceeded expectations! Or ask yourself what other problems your customers might be having and how you can solve them.
Interested in learning more about how to grow your business in 2019? In the latest issue of Blueline Magazine, we do a deep dive in “Ready, Set, Grow: How Can Printers Develop a Strategy for Growth in Changing Times?” Jake Walker gives key pieces advice to those looking not simply to survive but thrive, in the coming years. Request your complimentary subscription and start developing your corporate growth strategy today!