We all know how the markets seem to panic when the Fed hints that rates will be rising soon, but they already have. That is, the markets have been pushing up the inflation-adjusted 10-year US Treasury since September 2011 by 420 basis points (4.2 percentage points).
The rate is now the highest since June 2010, at 2.33%. This measure can be volatile because of the inflation adjustment. We used the year-to-year inflation rate as measured by the Consumer Price Index for that reason. There are Fed governors who believe that they have great latitude to be patient with a rise in inflation since their target of +2% annual inflation has not been met. This means that they believe they have a cushion of “banked” uncreated inflation that they can use up before they move aggressively.
Whatever the case, a 25 basis point rise in short term rates is not much, as they might actually be catching up to the marketplace that has already moved and the Fed is already lagging well behind it. They miss an important point. The CPI does not measure inflation in a practical way. If wages are stagnant (though a little better lately), a “mild” 2% rise can be a burden.
Median household income is still 4% lower than its peak just after the recession started. A 2% rise in inflation plus the 4% lower income is a 6% difference. That's something that's rarely mentioned in the business press.
Software is mission critical to your business, like other infrastructure investments it takes time and effort to make the best decisions, plan to get the most ROI, and continue to build differentiation in the marketplace. Optimizing your print software investments comes with challenges which every printer faces in order to compete in an increasingly online, digital world.
In this article, David Zwang looks at the evolution of Color Management in light of the recent approval of CxF3 as a standard by the ISO, what exciting new things it can bring to the process of Color Management in design and production, and what the future holds.
The community of U.S. Esko users descended upon the Fairmont Scottsdale Princess in Arizona earlier this week to sharpen their skills, answer questions, get product roadmaps, and network with Esko executives and engineers as well as a diverse group of their peers.
Since the start of the recovery all the way back in mid-2009, advertising agency revenues have increased by +$32 billion, +40% since that time. There are many economic indicators that have never recovered (such as full time jobs) but ad agency revenues have blown through the pre-recession high of $91 billion and is now running at the rate of $112 billion annually. The agencies have had this performance because they are immersed in the media upheaval, riding and stoking the changes in communications formats on behalf of their clients. Wages have followed this shift in media, and has been documented by us before. The average public relations pay is about $10,000 more than the averaged of all agency wages. Book publishing industry revenues have stabilized, and trends of newspaper and periodical publishing revenues are still down, but at a lesser rate.
Smart screens that look back at their onlookers are only the beginning of the changes that digital technology will bring to signage and display markets that used to belong to—but now must be shared by—conventional print.
InfoTrends’ research has uncovered some key differences in web-to-print adoption among commercial printers versus corporate in-plants. This article leverages recent research to explore some of the differences in how these two groups use web-to-print technology.
Inbound marketing is the strategy of choice for online marketing, content is the main ingredient to any successful inbound marketing strategy. Your content has to be optimized for two audiences; your target customers and the search engines.
Printing is easy; it’s all the other stuff that can pose challenges. Producing wide-format output can require a different approach to traditional processes, from selling, to finishing, to transporting. What do you need to know before you take the plunge?
At the Dscoop Open event (June 3-5 at the Convention Center in Dublin, Ireland), solutions partners shared their perspectives on how to make a “hole in one” with digital printing. This article provides a brief overview of the event’s highlights.
In spite of recent strength in US commercial printing industry shipments, employment is still on a downward path. The industry seems to becoming more efficient, somewhat from better management, and somewhat from consolidation as weak establishments are aborbed or exit the market. Compared to April, however, the Bureau of Labor statistics estimates that employment increased by about 600, which is common compared for May in recent years. The April public relations employment was very strong compared to the prior year and is up +8.8%. When PR employment is excluded from ad agency employment, the number of employees in agencies is still up +2.1%. The employment data have always reflected the changes in the media market as well as the strength in the economy. Though the economy is slow, advertising agencies have reinvented themselves and are very active in social media and digital media production.
Data for the end of 2012 and the beginning of 2013 were revised to a slight rise in shipments when the original data showed a steady and significant decline. That period of mild increase was followed by a period of decline that was smaller in magnitude than originally reported.
If you happen to have been in Singapore recently—and who of us hasn’t?—you may have caught sight of a new wide-format backlit film that can be used for vehicle graphics. Called eLumiNEX, it has been given a shakedown cruise on a bus.
SGIA’s Dan Marx shares highlights from the 2015 SGIA Specialty Imaging Industry Survey. What equipment is hot? What products are on the rise, and which are on the decline? In what verticals are the hot prospects? And what is the overall market outlook for the wide-format and specialty graphics industry?
This chart shows how the US commercial printing shipments have been better compared to the prior year for the last 11 months of reporting by the Commerce Department. What's it mean? We're still averaging $400 million per month less than a similar period in 2010-2011, and we're well below the levels of ten years ago by about -$2.8 billion per month. The recent stability may be the result of several factors. First, weak companies are gone as a result of closures and consoPrinting Shipments Rising, Best April Since 2010lidations, leaving companies that know what modern print users need. Second, there has been a generational change in management to owners and executives who are more comfortable with digital technology because they have always used it, growing up with cell phones, video games, and computers everywhere. Third, the big targets for displacement by digital media have been pulverized, and what remains are specialties and applications more appropriate to a multichannel integrated media marketplace. Fourth, there a more companies using business development techniques (tell us about your target audience and how we can make your digital initiatives more effective) rather than old sales techniques (would you like to see my equipment list?). Then again, it could be the calm before another storm. New data networks are on their way, such as 5G, where two hour movies can be downloaded in six seconds rather than six minutes. Print has a good story to tell, but please, don't make it an old story. Print needs to be fresh and new. The market may be stable now, so use this time well to get ready for the market ahead.
ANRO Communications is well-known in the printing community for its innovation and thought leadership position. In this article, sponsored by HP, Paul DeSantis, ANRO’s Director of IT, talks about how production inkjet has future-proofed the company’s business.
Web-to-print is our term for moving customer engagement online. This represents a big change for most traditional business-to-business printers. This article describes the top five mistakes I see when working with printers through this transition from an offline business to an online / self-service customer interaction model.
Every May, the US Department of Commerce issues “benchmark” revisions to the manufacturing shipments data it reports. Every month, the shipments report is used by economists and analysts at Government agencies, such as the Treasury Department, but also by banks, businesses, and others, to identify strong and weak areas of the economy, and to forecast future economic conditions. The reports are based on a combination of actual and estimated data from economic models.
If you work with hazardous chemicals or other substances commonly used in printing operations, June 1, 2015, is the deadline for meeting new requirements to OSHA’s Hazard Communication Standard (HCS), in particular, new warning labels and Safety Data Sheets (SDS). Here’s what you need to know.
The transition from a Print Service Provider to a Marketing Service Provider has been a topic of discussion for several years now. Although some businesses are making this shift, others are placing a renewed focus on their core competencies. This article cites InfoTrends’ research and explores the challenges that can arise when attempting to make the transition to an MSP.
The Commerce Department released its “Nonemployer Statistics” data for 2013, showing that these businesses increased to 23 million since 2012, and by 30%, three times the rate of population growth, since 2002. Let's call them “microbusinesses.” They are now more than one in seven of the workforce.
When you need a custom software solution, think about assembling a puzzle rather than building from scratch. The software landscape is full of integrate-able pieces that can give you ‘expected’ functionality so you can focus your custom development on what makes you ‘unique’.
Adding production inkjet to its book printing operation is enabling Cordoba Printing & Binding of Israel to adjust to drastic changes in the Israeli book market as well as to pursue new business opportunities. Learn more in this article sponsored by Kodak.
Last week, the US Department of Commerce released its annual revisions to manufacturing shipments. Printing shipments estimates were increased a total of approximately $10 billion combined for 2013 and 2014. The data softened the decline in 2013 shipments by a considerable margin and also reaffirmed the recent rise in printing shipments over the last ten months. While shipments in 2014 were still below 2013 on an inflation-adjusted basis, the pattern of the last few years shows a decline in shipments that is more muted than the Commerce Department originally reported. Our advice is the same: this is breathing room that can be used for restructuring of print businesses with forward-looking strategies that can take advantage of the next waves of communications technologies, while implementing sales and marketing processes that are appropriate for the times ahead.
Estimating is a core function for Print MIS software, yet many printers fail to implement this part of the system to a trusted level, hence there is a lot of retreating back to Excel. Estimating is a critical function that needs to be part of your integrated and measureable print management information system.
By all accounts, the sign and display industry is growing by leaps and bounds. But getting accurate sizing data is fraught with difficulties—difficulties that have largely been caused by the very factors that are driving growth.
During the 2015 Inkjet Summit, service providers acknowledged that much of the innovation in their markets was done in collaboration with customers and driven by the dynamic changes in the clients’ specific businesses. This article explores how inkjet technology is delivering key advantages to transactional printing, direct mail marketing, and publication printing applications.
These data about US commercial printing establishments are from the newly released 2013 County Business Patterns published by the Bureau of Labor Statistics. At the turn of this century, there were nearly 38,000 establishments engaged in commercial printing and services; in 2013 there were nearly 27,000. These data do not include inplant printing departments or packaging, but do include label printers and trade services. An establishment is a separate location in a practical definition, and a firm can own more than one establishment. The number of establishments is in response to the size, scope, and nature of overall print demand, but there are other factors.
The last ten months of US commercial printing shipments have increased +3% compared to the same months of the prior years. For the first calendar quarter, shipments are up +3.5% compared to the same quarter of 2014. There has not been this kind of growth for about ten years. Please note, however, that the Commerce Department is revising at least three years of historical data next week; it's not possible to determine how the data will change. Assuming the pattern of these data remain the same, it's not a long term bottoming of the shipment level that will turn upward again. The march of digital technologies that offer alternatives to print will continue (read what 5G networks will bring in 2020, for example). It's more likely a pause that should be used to reposition well-running print businesses for the future, consider investing in capabilities and businesses that will take advantage of the new communications innovations ahead, and develop alliances with others whose talents will be needed to do so. This might be 2005-2007 playing out again for us. If your business is growing, don't rest on your laurels. Appreciate the flexibility your business has to prepare for the future and use the time wisely. Never hunker down and wait for things to play out.
During the 2015 Inkjet Summit, a number of innovators acknowledged the need to leverage emerging technologies to profitably accelerate business growth. This article explores how Access Direct has reinvented itself as a leader in data management, variable messaging, and inkjet printing. It also demonstrates how Access Direct’s actions parallel the advice given in Josh Linkner’s book entitled The Road to Reinvention: How to Drive Disruption and Accelerate Transformation.
Your marketing should talk more about your customers than about you. Compelling marketing content is about telling customer success stories to teach and attract more customers who find your content relevant to their current challenges.
Dynamic digital signage is becoming a hotter and hotter topic, and while there are ample opportunities for companies to get in on, if not the ground floor, than at least the mezzanine, it’s not to everyone’s taste. Here are some arguments for—and against.
The GDP estimate of Q1-2015 growth was at +0.2% when consensus was +1.0%. The estimate will be revised at the end of each of the next two months. That consensus estimate of professional economists has been revised down regularly since the beginning of the year, with many of the original estimates at +3% or higher.
In what is perceived as a commodity-oriented marketplace, print sales reps struggle to maintain a proper balance between features and benefits. This article explores how Symeta (Brussels, Belgium) has transformed its business with strong sales and marketing and a value-based approach to communications.
The 2013 County Business Patterns report was just released by the Bureau of Labor Statistics, one of the most valuable of all government economic reports. The data are based on Social Security tax filings made by employers. In this manner, the BLS can count the number of business establishments and the number of employees of those establishments with great accuracy from analysis from the mandatory filings of Form 941, submitted with company payroll taxes. As the data show, content creation businesses have much higher per employee annual salaries. This makes these industries very attractive to new employees, especially those starting their careers. The most interesting to me is the rise in public relations agencies. In the late 1980s, the payroll for ad agency workers was about one-third more than public relations. In 2005, they were about the same. In these 2013 data, PR employees are paid about one-eighth more.
This article is a part of a series of articles by David L. Zwang that focuses on the processes and products that can lead to the transformation of your current workflows and business to prepare you for the new challenges ahead. In this article, Zwang looks at the release of PRINERGY 7, in the context of Kodak’s reinvention.
Founded 10 years ago, SpeedPro Imaging is a network of 120 franchises—or “studios”—located in 30 states that specialize in wide-format printing, from trade show and event graphics, to vehicle graphics, to wall murals, and beyond.
We recently learned that Kodak has hired a new workflow chief. Allan Brown, formerly with HP and Xerox, joined the company as General Manager of its Unified Workflow Solutions business. Read what Brown has to say about workflow and Kodak strategies moving forward.
What’s more costly, opening up a new successful retail location or a new successful online brand/store? The answer is “it depends”. Just because making a new e-commerce site is “cheap” doesn’t take into consideration all the costs of driving traffic and getting conversions.
Service providers of all sizes are constantly talking about the need to transform their businesses from commodity-oriented organizations to marketing and communication service specialists. A recent article from McKinsey & Company details six steps for driving revenue and margin improvements, and these steps are discussed in this piece.
The Bureau of Labor Statistics publishes many indexes of inflation, the best known of which is the Consumer Price Index. The BLS also publishes hundreds of other indexes in the Producer Price Index (PPI) series that track price changes in industries, products, and commodities. This week's chart shows the year-to-year change in CPI (orange line) and the PPI for printing (blue line) on a monthly basis for a little more than ten years. For most of that period, printing prices have lagged consumer prices, often by wide margins. Since December 2004, printing prices are up +14% while consumer prices are up +27%. That is, printing prices are increasing at about half the rate of consumer prices. Or, looked at differently, printing prices are about -10% less than the change in consumer prices: print is getting cheaper every day. But print owners and their workers cannot spend printing dollars when they go to the supermarket; they have to make up for the 10% shortfall in prices somehow. This is difficult since many of the prices printers need to pay for wages and materials more closely follow consumer prices. It's a double-edged problem: lower revenues, higher costs. Profit leaders have figured out how to survive in this environment as they still stand out from their peers. But these double-edged pressures have caused weak companies to leave or offer themselves as consolidation candidates.
Kevin Cushing, formerly CEO of AlphaGraphics, has accepted the position of President of the Marketing & Print Division of Alliance Franchise Brands LLC (parent company of Allegra Network LLC). Hear what he has to say about the company, franchising in general and the importance of a learning environment.
BR Printers discusses how production inkjet printing is changing the way the company does business and opening up new business opportunities in a highly competitive marketplace. This article is sponsored by HP.
Whether you have recently acquired a new Print MIS system or you’ve been using the same one for a decade, we recommend you assess it as the “trusted system of record” for your print business. This assessment is critical in our increasingly data-driven world.
Nobody uses terms like exciting, sexy, or compelling when they talk about their Print MIS solution. Your Print MIS isn’t supposed to be sexy; its job is to serve up the story of your business in the form of data collected in a trusted system of record.
Eliminate the peel-away part of a pressure sensitive label while protecting it from the adhesive on the backs of the other labels it’s rolled or stacked with: it can be done and is being done in the solution known as linerless labeling.
This article explores the increased interest in color management software among corporate and commercial printers. It cites research from InfoTrends to illuminate how more and more businesses are beginning to recognize the benefits of implementing a color management program.
The monthly NFIB Small Business Index took a step back after it nearly reached the pre-recession high. The chart shows that high of a few years ago as a green line. The index fell almost to the bottom of the 2003 recession level. For a few years the Index seemed range-bound between that recession and the lows of the recession of the early 1990s (the two red lines). This particular survey had all ten elements of its index fall, which is highly unusual. The Index bears watching as there are very few data series that follow small business activity.
Self-service is a growing preference among customers, pricing transparency is a feature of our online world, and speed is a growing differentiator in all aspects of our business. arifiQ has focused on a pivotal function of print – estimating/quoting; enabling printers to adapt to the new realities of our increasingly digital, online, and fast-paced business environment.
Industry Analyst Junichiro Yamashita recently attended the MarTech Conference in San Francisco to learn about the latest trends in Marketing Technology (MarTech). He shares his thoughts with our readers about the opportunities and challenges MarTech provides for Commercial Printers.
You haven’t updated your website in over two years. You don’t remember if you have a LinkedIn page, you thought someone once tweeted something, and you recently had a customer complain about not being able to find you online.
Yesterday, on the eve of the opening of the ISA Sign Expo, HP took the opportunity to launch five new products in its high-end Latex and Scitex families. These are the HP Latex 370, the HP Scitex FB550 and FB750, HP Scitex 11000 Industrial Press, and HP Scitex 15500 Corrugated Press.
Do you know about the joint NPES/PIA program for raising Print’s Voice in the Nation’s Capital? We all complain about Congress not getting anything done, but how many of US actually do anything about it? Here’s a great program that gets the word out about print and pokes at Congress to get stuff done.
Because of new and emerging technologies, today’s business owners face a whole new set of challenges. According to Josh Linkner’s book entitled The Road to Reinvention, the way that you position your company and communicate to your various audiences and target markets is a critical component of transforming your business. This article highlights real-world examples of how the art of storytelling can help accelerate businesses transformation.
The average number of employees in commercial printing establishments has declined over the years for many reasons. Among large printers, volumes of magazines, catalogs, inserts, and other long run length products produced on web offset and gravure presses have declined, leading to plant closures and consolidations. Desktop publishing shifted work to graphic designers, publishers, and other content creators. That, combined with direct-to-plate and digital printing have nearly eliminated the need for prepress departments. Presses require less staffing than older ones. In smaller printers, copies and digital printers have reduced the need for press operators. Other technologies, such as search engines, e-commerce, advances in administrative software have reduced employment in other functions. Even voice mail, cell phones, and e-mail have gradually reduced the number of staff required to run a printing business.
We’ve written a fair amount about digital publishing in this space since we believe it presents a good opportunity for new revenue streams for printing firms – not only for traditional publishing applications but increasingly for sales enablement and other enterprise dissemination of information. Adobe is about to take this to the next level with its summer launch of Adobe Publish.
Your role is to enable your customers to meet their needs, grasp their opportunities, and defend against their threats. Whether you like it or not that’s how your customers see your role. If you’re not doing one of those three things, you’re a distracting and useless waste of time. Period.
Direct, early access to the real decision-maker – not someone whose power is limited to saying “no,” but the person who has the authority to say the final “Yes” – It’s the Holy Grail for professional B2B salespeople. And it has gotten harder and harder to gain.
The relentless pace of change is exacerbating the challenges that business owners face today. According to Josh Linkner’s book entitled The Road to Reinvention, leading companies are disrupting the status quo to achieve growth and economic gain. This article explores how businesses can take Linkner’s advice to avoid losing ground.
Some B2B salespeople I encounter baffle me. My work brings dozens of them across my path each year. There’s a significant segment who claim to desire and expect productive careers but who show almost no sign of investing in themselves. I don’t get it.
I have a confession to make. I’m not a Funnelist. I don’t worship at the altar of Funnelism. Never have. It's deadly. Ben Chestnut (founder of MailChimp) was right when he compared the “marketing funnel” to a meat grinder.
WhatTheyThink is the global printing industry's leading independent media organization with both print and digital offerings, including WhatTheyThink.com, PrintingNews.com and WhatTheyThink magazine versioned with a Printing News and Wide-Format & Signage edition. Our mission is to provide cogent news and analysis about trends, technologies, operations, and events in all the markets that comprise today’s printing and sign industries including commercial, in-plant, mailing, finishing, sign, display, textile, industrial, finishing, labels, packaging, marketing technology, software and workflow.