In today’s ever-changing marketplace, diversification is key. While the standard print model relied on specialization and boards-per-hour, a shift in focus to retailers and developing customer loyalty has also shifted today’s best practices. Adapting to this market shift can help large format print providers stay viable and sustain customer relationships.

Some print companies try to find a specialization that is in enough demand to sustain their business model. They rely on their burst capacity for large orders to maximize return on investment (ROI).  But is that the optimal source of ROI in this industry? Harnessing the lifetime value of a client, rather than the focusing on the capacity of equipment, changes the way companies can identify ROI and create a more sustainable business model.

The most successful print companies only get 35-40% of their revenue from print.  Diversifying your company to offer more complete solutions to your clients gives you an edge in the marketplace.  Some companies focus on developing tech or fabrication such as IoT signs or 3D printing to complement their products, while others specialize in on-site services or larger project management solutions.  By offering customers one stop shopping, a more sustainable business model is developed. With more retailers relying on pop-up event marketing to create brand loyalty, these print companies can now position themselves in a way where they not only provide prints, but they provide a more comprehensive package of deliverables to help sell the complete story of the retailer to their customers.

Creating a more diverse revenue mix can brace your company for shifting markets, make it more adaptable, and create lasting customer relationships. For inspiration as you consider the ways you can diversify your company portfolio, download my reading and show list. What will your new revenue mix be?

Brian Hart
Principal, Hart Consulting Services