Bill Farquharson February 4, 2003 -- In my travels, I hear this question often. In terms of frequency, it is right up there with "Just how tall ARE you anyway?" on the Ask-Bill-O-Meter. Profits in printing are tougher to come by for the vast majority of us as competition turns from being outsold to being undersold to losing the entire account to a nasty little invention called the "reverse auction" (think: Satan takes over print purchasing). Why, then, did I see a recent study based on research done by WhatTheyThink’s newest celebrity know-it-all contributor, that abuser of initial capitalization himself, Dr. Joe Webb that suggested 12% of US printers report business is great? Twelve percent? Someone is actually making money in printing? Are they printing money? Now Dr. Joe might have his own opinion as to why and how this is happening (and gosh, what are the odds of that?), but here’s mine. The following are the six common denominators found amongst successful and profitable print providers: Think Ahead—Years ago, even if things were going well, they continued to investigate new markets and new opportunities. Despite the fact they might have been successful, they never stopped learning, never stopped reinventing, and never stopped challenging their existing business model. Take variable date printing (please!). There is a lot of rhetoric on the subject right now and there are even a few printers making a go of it successfully. You can be sure that their road to profits in variable printing was paved years ago, starting perhaps with someone attending a seminar or reading an article and followed with careful consideration that led to an intelligent entrance into the market. Compare this with the printer who buys a press or digital device without any consideration to its fit into their business strategy. Well-rounded Printing Solutions—The client and the economic climate has forced successful printers to react with more than just one a dimensional solution. They have offset and digital and light-lens and fulfillment and mailing. They can help with pre-press and web sites. Their capabilities go well beyond ink on paper and make it all the way to the solutions sale. They qualify orders, learn the story behind the piece and are armed with a myriad of print solutions that help the client to meet his or her goals. Solve the problem. Earn the order. Focus on the File—The new definition of customer loyalty has to do with owning the customer’s data. Like years ago when "if you owned the plates, you own the customer" was a mostly true statement, today it has change to "if you own the file, you own the customer." That means not only physical possession of the data but also letting the customer know that you are the masters of software. Anyone can print the job but not just anyone can deal with the clients’ files. Make your message one of "We are Technically Superior." Question the Status Quo—Never settle in to one set of assumptions. If it ain’t broke, break it. Continue to challenge the "givens" and the "knowns" in your business. Plans are made with a current set of circumstances in mind but those circumstances are in constant motion. When was the last time you modified your business plan? Educate the Customer—Successful printers are holding monthly educational seminars on various topics relevant to the client: File preparation, job submission, the basics of printing, Mac OS X advantages, design tips, etc. There is a value to educating your clients. It attracts the right kind of customer and demonstrates your desire to develop a long-term relationship, not just print a job and run on to the next. Offer your clients lunch and develop a program of topics that help them with their job. Hire a Marketing Director—It is this fact that inspired this column. Recently, I have run into a spate of printers who have employed a person whose sole function is to steer the ship, lay the foundation, get out a marketing message and show the sales people which ponds to fish in. It is any surprise that all of these companies are highly successful? How successful, you ask? How about one with $1.5MM in digital business (out of $12MM total) and a 27% profit margin? Everybody talks about Marketing and the needs involved in a successful Marketing campaign. But time and time again seminars on the subject go cancelled due to lack of interest. Nine months ago my company hired a Marketing Director. Today, we are more successful than ever and our path forward looks incredibly, wildly bright. Thanks, Cary!