PRIMIR Publishes New Study on Impact of Integrated Marketing on the Printing Industry
Thursday, May 16, 2013
Press release from the issuing company
Study Provides Insights about North American Marketing Trends and How Printers Are Leveraging Trends for Growth Opportunities
Reston, VA - PRIMIR, the Print Industries Market Information and Research Organization, at NPES today announced that its latest study, "Impact of Integrated Marketing on the Printing Industry," has been released. The research, conducted by InfoTrends, provided exclusively to PRIMIR members, identifies marketing trends in integrating various media into marketing campaigns and discusses print's role in integrated marketing. The research report also identifies the key vertical markets where integrated marketing plays an essential role for promotion.
The research report provides real-world insights into the ability of printers to transform themselves into providers and drivers of integrated marketing. It also outlines how manufacturers of equipment, software, consumables and supplies can provide support to their printer customer base.
According to the PRIMIR study, integrated marketing spend in 2011 was $15 billion in the top five vertical markets: automotive, retail, food and beverage, financial services, and healthcare. Based on projected growth at an average of 11% CAGR (compound annual growth rate), integrated marketing spend will reach $25 billion in 2016. The fastest growing market—financial services—is projected to increase at approximately 18% CAGR over the five-year timespan.
While exploring the many nuances of integrated marketing in the vertical markets, the study more importantly identified the role of print within integrated marketing. Over the next 12 months, 79% of research respondents indicated they expect the importance of print to either increase or remain the same. The PRIMIR study reports that while print will continue to play a strong role in the integrated marketing mix, media diversification will also elevate the use of other media channels.
Marketer Brian Fabiano, FabCom, Phoenix, AZ, describes print's role in integrated marketing as "diabolically important," as it provides excellent marketing returns if print is integrated in real time, into the right place, and the target audience is based upon demographics, psychographics and behavioral attributes. In fact, the report reveals that "many experts believe that print's future hinges on the use of targeted, personalized dynamic content enabled only by digital printing." Conversely, another group of respondents felt that "not all print needs to be individually personalized," and there is a solid role for offset printing in integrated marketing campaigns as well.
Many print service providers understand that their future success will hinge on changing their offerings and image to include new media options to serve their marketer clientele. They understand that adding services that increase the value of print and grow volume, ensure their survival by increasing their profits. It is not simply adding these services, printers must develop solid business strategies focused on becoming an integrated marketing services provider. A sound strategy will secure new, recurring revenue streams. The study notes however, that many marketers view printers as vendors rather than partners. Printers must do their homework in order to gain the confidence of marketers and change their mind set so that marketers begin looking at printers as partners for integrated marketing services.
The comprehensive 325-page PRIMIR research report, "Impact of Integrated Marketing on the Printing Industry" identifies opportunities and numerous implications for all participants in the print supply chain. The full table of contents is available at: www.primir.org.
Eligible firms may join PRIMIR now and receive the study at no cost. For more information about this study contact Rekha Ratnam, Assistant Director, Market Data and Research at 703/264-7200 or e-mail: email@example.com. For PRIMIR membership information contact Jackie Bland at phone: 434/589-1444 or e-mail: firstname.lastname@example.org.
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