The Bureau of Economic Analysis released the report of 2015's second quarter GDP. At +2.3%, it was below expectations of financial forecasters who were looking for +2.6%. This advance report of GDP was in line with the GDPNow estimate of the Atlanta Federal Reserve which was at +2.4%.
Inflation is supposedly tame, but if you're making comparisons of current year financial data to prior years, you still need to adjust for the years when inflation was not. The chart was created from Consumer Price Index data for each of the years specified. When looking at your company history, multiply your data for each year by the multiplier specified. This will give you an approximation for the effects of inflation on your business, and make your historical analysis, especially in the process of budgeting, to be more realistic. Adjusting your data, even in periods of claimed low inflation, creates a sense of more urgent action. Inflation means that to stay at the same level you actually need more dollars. Staying the same is actually a cut.
The data that you rely on from the Print MIS will only be useful and reliable if it is complete and accurate. So, how do you encourage your team to participate completely and consistently in the Print MIS?
Adobe is taking mobile app creation to a brand-new level with the launch of Adobe Digital Publishing Solution 2015. Senior Editor Cary Sherburne spoke with Adobe’s Bridget Roman and Colin Fleming to learn more.
Much has been written about what business owners should do to improve the value of their business. So much so, that when it comes to developing a set of priorities to get ready for a sales or other transfer process, uncertainty and confusion reign supreme.
What is the difference between a “green” business and a “sustainable” one? What are some unique approaches to the concept of sustainability that printing companies—large- and small-format—are taking? In the end, it’s not just about making the company sustainable, but rather the entire supply chain.
Today’s marketers are seeking partners that can help them deliver the right message at the right time, while also delivering the most effective data strategies to ensure that offers are not dead on arrival. This article explores how print service providers can capitalize on this opportunity by building data expertise.
June retail sales adjusted for inflation fell -0.6% compared to May. Month-to-month changes are somewhat volatile, so it's better to look at the comparisons to the prior year. The chart shows that June retail sales were +1.2% compared to last year, the worst comparison since March 2014. There are signs that the economy is slowing again. In the first quarter, real retail sales were +2.6% compared to the prior year, but this second quarter is only +1.6%. The economy always has conflicting positive and negative data, but this downturn in a key sector of the economy is likely to raise some eyebrows among economists and policymakers.
Launching any new print software technology can feel risky. With the rate of change in both our businesses and software technology, we have to create a culture that is comfortable with launching early and iterating through issues. It is impossible to predict every possible scenario; it is liberating to accept that finding issues post-launch is part of the plan.
The NFIB Small Business Index was released this week, “The weakness was substantial across the board, showing no signs of a growth spurt in the near future,” according to Bill Dunkelberg, NFIB Chief Economist. “Declines in spending plans accounted for 30 percent of the Index decline, and weaker expectations for real sales and business conditions another 20 percent. The deterioration in earnings trends accounted for about a quarter of the decline.”
Packaging is one area of the printing industry where growth continues. But it is not without its challenges. Learn how leading packaging converters are leveraging digital technology to address time-to-market challenges and developing new revenue streams in this article sponsored by Highcon.
SGIA’s Dan Marx shares some of his organization’s most recent research on industrial printing. What technologies are companies in the industrial printing space using? What products and technologies have they been investing in? Where do they see the most (and least) growth opportunities? What is their business outlook?
One of the keys to effectively running a world-class company is finding ways to constantly increase productivity. This article explores the importance of measuring operational performance and discusses various strategies for doing so.
Print software is an infrastructure investment in our increasing online and digital economy. Adopting a strategic infrastructure approach to investing in and implementing print software will be a key differentiator for print businesses moving forward.
Yesterday, EFI and FedEx Office announced that FedEx Office is using EFI products for a more cost-effective and streamlined delivery of professional print services. I spoke to Udi Arieli, EFI’s Director, High End Market Business Development, EFI Productivity Software, to get the scoop for this WhatTheyThink exclusive.
New applications for outdoor graphics are appearing all the time, and new printing technologies are revitalizing some older applications. Some considerations if you are looking at outdoor graphics, and a look at one South Florida shop that has carved out a niche in the great outdoors.
UK-based Blackdog Digital is a terrific example of a company that has morphed from being a commercial printer to a digital printer to a variable data printer to a full-service provider of cross-media campaigns. Blackdog’s Phil Copperwheat shares his thoughts on the company’s transformation and what other companies need to do to get in the cross-media game.
Commercial printing shipments have been much higher than they are in today's market, but the bounce off the lows of 2014 this year have been notable. The comparisons toward the end of 2015 will be harder to top since the industry started to show this bounceback at the end of 2014. The transformation of commercial printing businesses has been an arduous one, with volume declines of many mainstream products, but a rise in specialty applications. Those new applications are often based in digital printing, such as wide format specialties. There's also a new generation of print business managers who are not burdened by the myopia of history, where print was paramount. These executives and owners have grown up with computers and gadgets and have a better sense of print's new role in media communications
Without leaving their homes or offices, individuals can assess and evaluate an array of products and services. The most successful firms understand that the lifetime value of a customer is more important than the value of the initial transaction. This article explores how Kohler Co. partnered with OneTouch Point to stand out from the competition and maximize the value of long-term customer relationships.
Staffing your technology is as important as staffing your presses. The top characteristics for good technical resources: understand the limits of your knowledge, resist making assumptions, and see opportunities rather than roadblocks.
As our readers may know, Aurelio Maruggi led the InkJet High-speed Production Solutions (IHPS) division at HP since its inception and has recently moved to a new role within HP. He spent a lot of time with customers and really understood the business and their needs. His successor, Eric Wiesner, has a very different background, but one that is equally valuable to HP and customers alike. I had the chance to speak with him recently about his background and his thoughts about the future.
We’ve been writing about the adoption of digital publishing tools for publishing and sales enablement. The next wave for this discipline is a natural: employee engagement. We spoke with Douglas Fajardo, CEO of Mirum Miami, an agency working with Sony Latin America, about the impact Sony’s employee engagement app is having on its employee on-boarding process.
Colorado-based EPS Doublet creates amazing event experiences for its many marquis customers and is an expert in experiential marketing. See how the company leverages large- and small-format digital printing to bring innovative solutions to its customers in this article sponsored by HP Graphics Solutions Business.
According to McKinsey & Company, following the leader can be dangerous to your future profitability. This article explores four steps for optimizing performance in today’s digital world, and also discusses the importance of developing a digital quotient.
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.
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.