Can Printers Survive in this Dwindling Market?

These are dark times, the market seems to be hitting a new low everyday and businesses are losing millions of pounds as time passes by. Many are being laid off and people are afraid to spend money. Is this the right time to invest, is probably the question on all our minds. Francis McMahon, marketing director for HP’s graphic arts in an interview provided some valuable information that could be particularly helpful for the printing industry. Here’s an excerpt:

Francis feels that the time is prime to look beyond the existing business and to venture into new opportunities that can present itself if discovered. This may be done by expanding one’s business and explore new revenue generating avenues.

When questioned regarding the best opportunities, Francis felt that printers shouldn’t hold back but instead offer more services for the existing customers. The key to this opportunity is both the client and the service provider are on the same boat, and both are looking for new ways to grow their businesses and improve productivity.

Budgets can be dealt with aptly by switching over to digital technology over traditional ones. It kills two birds in one shot; first, it eliminates the cost and waste associated with long print runs, and secondly, it allows you to personalize marketing materials to help your customers establish direct, one-to-one connections with their prospects that can really pay off.

Let us know what you think would be the best strategy in these hard times.

Read the entire interview on HP.com.