With digital technology growing in popularity, more businesses are trying to find ways to integrate the new systems into their daily operations. The printing industry, though, has been attempting to hold its own in what some consider “outdated” technology. However, when companies are able to find the right balance between the old and new, they can be successful.
The Print Industries Market Information and Research Organization (PRIMIR) released a study showing that there are many non-print services within the printing industry that are still highly profitable to organizations. State Street Consultants and John Zarwan Partners were commissioned by PRIMIR to conduct the research and spoke with a sample of commercial printers, digital imaging service firms, transactional, direct mail and specialty printers.
According to the results, fulfillment, warehousing, mailing and design services are and will continue to be the top offerings. Specifically, by 2016, these three will account for approximately 65 percent of all non-print revenue growth.
“It’s obvious that print is contracting and the communications industry is changing quickly, both with competing technology platforms and evolving print platforms,” Andrew Gordon, executive committee member of PRIMIR, study co-chair and director said in the release. “Now is the time for print service providers to expand their portfolios of non-print services, meet the needs of the transforming communications industry and reap new revenues and higher profit margins.”
Another key finding was an 86 percent projected growth rate for marketing services from 2011 to 2016. This blog has previously mentioned how customers still respond positively to direct mail marketing campaigns, and even physical inserts within newspapers.
With that information, printing companies should ensure that they invest in equipment that will take their products to the next level, continuing to stay innovative in a digital age. Using lamination equipment, for example, will keep documents fresh and guarantee longevity. Additionally, binding machines can provide pamphlets with a professional appearance that customers desire for presentations.