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"Our margins are razor thin and getting worse." "We have spent so much money between acquisitions and rebranding that the well is about to run dry." "How are we going to remedy the situation?"
I didn't want to scare him, but I needed to put all the cards on the table. Heck, I hired him to help me keep the ship on course. He didn't blink. He understood right away.
We were a commodity seller of printing and mailing services evolving into a full-service professional marketing solution provider. And, though we had honed our look and message, we had yet to complete the transformation.
The change in the printing and mailing industry had been coming for some time, and the various professional associations advising printers had identified the need for value-added services. Advice is cheap, goes the old adage. Although this time it was not only correct, it was right on the money.
The internet printing marketplace has eroded margins for printed materials, making it more and more difficult for local printers to compete. This was very much like what the big box stores did to neighborhood and downtown businesses. However, the printing big boxes are online. Online marketers also abound, coming in all shapes and sizes further muddying the waters.
Fortunately, as the industry changed dramatically, we listened and changed too. If not, we would have died.
Now, our commodities have been integrated into our new mission. In house, we have all the services needed for the comprehensive marketing and PR campaigns we develop for our clients, including graphic design, copywriting, lists, finishing, fulfillment, SEO, PPC, e-mail campaigns, analysis, and let's not forget - printing and mailing. Our ability to offer the full package of services will enable our business to survive the industry's dramatic changes.
The conversations with customers and prospects are infinitely more complex and important than "What color ink do you want to print" or "Are you mailing First Class or Standard?" Strategizing, goal setting, media mix and countless other aspects of marketing must all be worked into a comprehensive plan in order to achieve the desired result for each customer.
Source: Huffington Post | Gregory P. Demetriou, CEO, Lorraine Gregory Communications Group