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McKinsey Insights and Publications recently published an article entitled The Seven Habits of Highly Effective Digital Enterprises. This article provides a brief overview of the insights from this article and also explores their particular relevance to the graphic communications market.
Interview of Sprint’s Alan Anglyn, Director – IT Care & Billing Services Business Management by Phil Riebel, President - Two Sides North America
The Bureau of Economic Analysis released the second revision of Q1-2014 US Gross Domestic Product (GDP), indicating a contraction of the US economy in the quarter. As reported in prior (“laughable and embarassing”) analysis, an inventory buildup in the last two quarters of 2013 distorted the underlying condition of the economy.
We think we know our customers, we think we know our market; we think we can predict the future, we can’t and we shouldn’t invest lots of money without building in the ability to test our assumptions with data rather than opinions and theories.
Business conditions were generally good, with more than 33% reporting business increases of 6% or more. About 13% of respondents indicated business decreases of 6% or more
There is a hidden pitfall most of us in the position of purchasing print software are very susceptible to. We are all human, and while we have the best of intentions to do thorough evaluations while making a new print software purchase, we quickly fall victim to the ‘feature trap.’
There has long been speculation among business owners and their advisors over how to place a value on privately held companies. Now, newly developed business valuation models which replicate historical buyer experience sheds some light on the topic and provides some very interesting insights into value creation opportunities for current business owners and potential buyers.
The order of the traditional sales funnel has typically been to discover a new opportunity, initiate communication, conduct fact finding, develop a solution, propose that solution, evaluate the solution, negotiate the details, create a purchase order, and maintain the account. This article explores how today’s empowered prospects have rendered this systematic approach obsolete.
If you are currently functioning on a legacy Print MIS system, you know better than anyone that you are going to have to make a move ‘soon.’ Maybe soon is in the next 2 months or the next 2 years, but you know that your system isn’t going to lead you into the future.
The results are in from SGIA’s annual Specialty Graphics Industry Survey (the full report will be released in June), and the data we’ve received shows the wide-format graphics community going strong. The information included here covers some of the “high-points” of our findings, and provides a bit of analysis, from my viewpoint.
Next week, O’Neil Data Systems (ODS) will be hosting an HP-sponsored event at their Plano, Tex, facility, which will bring together vendors, customers, and printers from all corners of the digital printing ecosystem to see the company’s high-powered “data-driven publishing” in action, as well as showcase their own contributions to this expanding print market segment.
Today’s hyper connected consumers are truly in control of the media that they consume. Today’s marketers must pursue media strategies that deliver holistic integrated communications to drive results. This article explores how printed communications are being combined with augmented reality to increase revenues and response rates.
US employment data has many cross-currents: the unemployment rate is down, but the labor participation rate is at 35-year lows. Last week the Bureau of Labor Statistics published its JOLTS report, which shows they dynamic factors at play in the labor market. This chart shows the percentage of hires less the number of quits on a year-to-year basis. Note in the chart below the rapid rise in employment as the recession ended and the recovery began, and also how it has narrowed and turned negative in recent months. It's been mainly negative for about 18 months.
Web-to-Print is a sales and marketing project that happens to involve technology, yet most printers delegate the leadership of web-to-print projects to their technical resources. We are collectively as an industry putting too much emphasis on the technology and not enough emphasis on the sales and marketing aspects.
Although some companies only start looking at their brand image when things are not going well, successful firms are out in front of the market. This article discusses the importance of market dynamics and how they can be leveraged as key catalysts for change.
It was a Tale of Two Cities for sellers of printing companies in April. For some, it’s the best of times; they appear to have chosen wisely, believed in the power of the internet to transform the business of print, they saw the light and felt the hope of spring as they embarked on their journey. The market anoints these fortunate few with the ultimate reward – the high multiple.
In Part One of this two-part series, we discussed how printing companies are responding to changing market dynamics to future-proof their businesses, and offered some of the questions you may consider asking to stimulate new customer conversations. In Part Two, we look at people, processes and technology required to successfully and profitably change the conversation and deliver new services.
March 2013 US commercial printing shipments were down -$148 million (-2.2%) compared to 2012. The first quarter was down -$770 billion (-4%). On an inflation-adjusted basis, shipments were down -$270 million (-5.4%) and down -$1.05 billion (-5.4%) for the quarter.
The recovery indicators rebounded since last month. New orders for manufacturers remained at the same level that indicates growth.
Printing employment in April rose by 1,000 workers. It is always hard to determine if these were actual workers or if the changes were the result of issues with the estimation models of the Bureau of Labor Statistics. Production workers were the greatest part of the increase (800).
There are several marriage mistakes that lead to divorce: cheating, dishonesty, addictions, and major changes in priorities. What does this have to do with your print management information system (Print MIS)? I am suggesting that your Print MIS is your most important business partner.
There is an assumption that as service provider there are very specific, almost predetermined ways that a workflow to support your business operations should be developed and deployed. However, sometimes, to use a somewhat overused term, you need to think out of the box.
At the International Sign Association’s Sign Expo, the current state of dynamic digital signage (DDS) was reminiscent of a kind of “Cambrian explosion,” with a proliferation of solutions emerging.
While growing your client base is important, a strategic focus is essential for growing your business and setting yourself apart from the competition. This article describes how Sexton Printing is taking a strategic focus in the face of today’s changing industry.
The sales process sets up the critical transition period from lead to customer. Customers remember what was said in the sales process and they often use this to guide their approach to implementation. Don’t inadvertently focus your soon to be customers in the wrong direction.
Recently, WhatTheyThink joined more than 7,000 marketing professionals from more than 30 countries at the Adobe Summit in Salt Lake City. This is the world’s largest digital marketing conference, according to Adobe. It was a great place to network with marketers, benefit from great content and learn what marketers are thinking about the future of business communications and where their challenges lie.
We read a lot of articles and company profiles in the packaging trades that describe companies who are growing their businesses by focusing on a specific niche of the market and developing specialized offerings to serve that niche. I recently interviewed Preston Herrin and Patrick Green of trade printer 4over headquartered in Glendale California who described for me their new offering 4over Packaging.
David Zwang takes a look at today's announcement by Xerox of their new Versant 2100 press and provides some insight into how the press was developed and what impact it will have on the mid-entry-level production market.
The importance of a strategic business approach is becoming increasingly common as today’s technology-charged environment demands rapid change from us all. This article pulls ideas from Erika Andersen’s book entitled Being Strategic and describes how IMS, Inc. is serving as a role model to the industry by performing true strategic thinking.
Circulation revenue for U.S. newspapers recorded a second consecutive year of growth, rising 3.7% to $10.87 billion in 2013 according to figures released by the Newspaper Association of America. Total revenue was $37.59 billion in 2013, a loss of 2.6 percent over 2012.
Below is the latest set of multipliers based on the Consumer Price Index. Multiply your historical financial statements by the figures below to adjust data to the CPI for the first quarter of this year.
The traditional divide between commercial and packaging printers continues to blur as commercial printers seek opportunities in packaging where they can apply their talents, utilize their capital equipment investments, and transition to the packaging industry.
Activity does not equal results. You can be really busy, work really hard and fail miserable because you were busy doing the wrong thing.
Any company can say they are environmentally responsible. But what does it really mean? Print buyers who have a mandate from their management to use environmentally responsible suppliers have a tough task sorting through the claims. The Sustainable Green Printing Partnership (SGP) is an independent, non-profit organization providing a certification label for sustainability in the graphic communications industry. Here is what certification means to four printers.
In March Bo attended South By Southwest (SXSW) in Austin, TX to see if he could find connections between emerging digital technology and the ever-changing world of magazine media consumption.
For the year, profits were $4.34 billion. On an inflation-adjusted basis, that was the highest level of industry profits since 2007. This is despite there being $28 billion less printing shipments, 8,000 fewer printing establishments, and 73,000 fewer employees. It was the best profits per establishment ($173,000) since 2000.
The concept of re-evaluating your strategic business plan often gets pushed to the wayside as you get caught up in the day-to-day operations of your business. Erika Andersen’s book entitled Being Strategic provides a step-by-step model that business owners can use to build out their strategies. This article provides an overview of the book’s key points of advice.
Profits per employee increased to higher levels since 2000. Industry consolidation is a big factor in this report. It is not just mergers and acquisitions, but also plant closures and bankruptcies, and the opening of new businesses that absorb the best and most appropriate resources of the closed plants, and also the strategic changes that surviving companies make as they respond and anticipate marketplace changes, absorbing the sales volume of departed competitors.
On a recent visit to Salt Lake City, I had the pleasure of spending time at Hudson Printing. The company’s tagline is Reinvent Print, and it boasts a Director of Innovation. Read more about my visit and the great things happening at Hudson Printing.
Those developing systems for packaging applications need to understand what brand owners are interested in, and what are their perceptions of digital printing.
All members of the packaging supply chain are under pressure to better address the needs of their customers and offer more efficient products and services. This has led to the development of systems that are classified as “disruptive” to address “areas of need” or “pain points” in the process.
Results are determined by our words as well as our actions. This article explores Bill McGowan’s book entitled Pitch Perfect: How to Say It Right the First Time, Every Time can help you achieve the results that you want. It also highlights the key principles for effective communication that are highlighted in the book.
Three weeks into his new job as Kodak’s Chief Executive Officer and a member of its Board of Directors, Jeffrey L. Clarke conducted a briefing with the printing trade media. WhatTheyThink’s Senior Editor Cary Sherburne was on the line and shares some of the thoughts and insights from the call.
One of the measures of the health of the labor market is the comparison of the total population to civilian employment. This measure has yet to approach levels achieved prior to the recession. This measure is important because it follows the growth in population. The number of workers is now nearly what it was at the start of the recession, but population has grown about 6% since that time. In rough terms, this means that the economy is short about 5.6 million jobs.
Industrial printing is a massive industry, serving vertical markets from aerospace to electronics, and from medical to interior design. What makes industrial printing (for the most part) unique (and mostly hidden from view) is that most industrial printing companies are not “print for pay” enterprises.
In a “Digital Sneak Peek,” Heidelberg Offers First Word on New Products and a Promise of a Changed Attitude ()
In announcing a new and in some ways strikingly different digital strategy, Heidelberg has acknowledged that it can no longer live by sheetfed sales and its own technologies alone.
Reaching target audiences typically means connecting with these consumers on their desktops, laptops, tablets, and/or smartphones. This article explores how GTxcel is working with its customers to turn a printed document into a browser-based digital edition that can be enjoyed by readers on a desktop/laptop, tablet, smartphone, or any web-enabled device.
In preparation for this article, David spoke with a wide format print service provider with a portfolio of disparate equipment that implemented the first phase of a production workflow system to automate and optimize some of his processes. The results were quite impressive.