The Strategic Value of Print Management
How the value of print management is being redetermined to deliver sustainable ROI
The Strategic Value of Print Management
Summary
This whitepaper explores how print management is proving to be a vital part of the consumer journey in an omnichannel world.
While cost savings remain an important focus for brands looking to deliver ROI on their print marketing materials, this paper analyzes the evolution in marketing technology, data analytics, and the importance of sustainability, to measure print performance across the combined online and offline retail experience.
It argues that an increased data-led strategy ultimately enables print management to deliver sustainable ROI and compete for marketing budget.
Key Findings
1
Print management has evolved from a historic function of perpetual cost savings, to an essential marketing service that accurately measures performance and delivers value across the entire supply chain.
2
Marketing technology provides access to an abundance of resources, both global and local, reduces the complexity and cost of activating print campaigns.
3
Data intelligence and smart analytics from print performance are key to improving ongoing and future ROI at the Point Of Sale (POS).
4
Sustainability of print materials and supply chains are becoming more important for brands in North America, as they look to partner with organizations that share their sustainability values to reflect growing consumer buying trends.
Defining print management
Print management is the outsourcing of print production to a specialist partner that manages the purchasing, production and delivery of marketing print. Performed effectively, this not only ensures cost savings, but also improves consistency and speed to market. Specialist print management companies have greater buying power and can achieve printing speeds that far surpass that of in-house teams; delivering better value, quality, and marketing outcomes for brands.
From direct mail to retail displays, the print category is mostly comprised of branded materials. In today’s marketplace print solutions need to be innovative, sustainable, and effective, while able to seamlessly integrate with online marketing strategies. Backed by data, brands can measure the performance of their print materials like never before, enabling them to strategically invest in elements of a campaign that deliver the highest Return On Investment (ROI), and leave behind areas that do not perform.
Leaders at the GDR Assembly for retail regeneration reflect this sentiment and predict the future of retail as a combination of offline and online, with the offline experience complimenting the online. “We don’t see offline or online working standalone. New retail is about bringing the best of both worlds through seamless integration”.
Beyond the price of paper
Procurement professionals understand that singular focus on driving down costs eventually translates into reducing value that will ultimately lead to decreased performance. Due to the present impact on the cost of raw materials and interruptions to supply chains, brands are partnering with service providers that have the foresight to implement a print management strategy where performance drives cost savings. Working with a print manager with global reach and ability to see the big-picture enables brands to better optimize their sourcing strategy and reduce costs throughout the supply chain.
Print management with a partnership mindset
The value of a good print manager can’t be underestimated, especially one like Indicia Worldwide that works in partnership as an extension of a brand’s marketing team to present options and solutions not considered in their current marketing plan. With access to seasoned account managers, account directors and production people, the right print manager has the ability to conceive different ways for to achieve a desired goal. Whether it makes the delivery faster, better, or less costly, their approach is to see and present alternative solutions that don’t only focus on the lowest quote. Gareth James, Indicia Worldwide’s VP for Operations in North America says:
Good print managers don’t just take orders, they provide a service to their client – questioning requirements that don’t quite make sense, and pushing to find faster, better, cheaper ways to do things. When it comes to ROI, they can demonstrate spending ‘X’ amount of dollars will generate ‘Y’ in sales or engagement. That’s the power of knowing how to apply cost and data to reach a solution.”
The Strategic Value of Print Management
The resurgence of print in a digital age
Pre-COVID, print management was suffering in comparison to digital media. But in the last few years, print has had the opportunity to again prove itself invaluable in a brand’s marketing mix. The main contributors to putting print back in the spotlight are:
+ Digital fatigue – Consumers work and play online has caused them to crave a break from digital messaging
+ Targeted personas (refined segmentation) – Analytics have shown certain demographics have a higher response rate to print marketing and instore POS
+ Technology – With the QR code becoming increasingly relevant in every channel across multiple industries, online and offline messaging drives consumers to both channels
+ Print has evolved – With the comeback of 3D printing and new materials and techniques, consumers are responding to more eye-catching and engaging creative
+ Automation – Single-source platforms give brand marketing teams advertising assets that keep brand messaging on point and are easy to access and utilize, from anywhere
People are once more leaving their homes for brick-and-mortar shopping experiences. Overwhelmed by digital content, they crave the interaction they get from the in-store experience, including displays that elevate the brand-consumer relationship. The fact is print-led, retail experiences increase consumer engagement and close the gap in digital marketing campaigns.
According to a 2022 global trends report from POPAI,
Despite there being no shortage of tech-based and virtual innovations, we have noticed a real renaissance of physical-first stores that offer shoppers an escape from the always-on, hyper-connected digital world.”**
The Strategic Value of Print Management
Data insights drive more than marketing performance
As data has moved marketing from being solely subjective to an ROI driver with intelligence to back it up, its application has expanded beyond the ability to provide consumer insights. When presented with facts, print managers and brands are able to make better decisions in production, across the entire supply chain.
For example, when sourcing specific materials in New York and almost identical materials in California, data algorithms can be used to ensure the materials are harmonized and drive down costs. As data on a specific product grows over time, print managers can determine annual volume and purchase up-front, to drive efficiencies all the way through the procurement process.
By leveraging insights and investing in what is working, print managers continuously improve the performance and the overall campaign across channels.
The perfect pairing of data analytics and print management expertise
Optimizing a successful marketing plan is attributed not only to the volume of data gathered, but also understanding how to best apply that knowledge to accelerate engagement. This is where a future-focused print management partner works together with a brand, to draw meaningful insights that grow loyalty and profitability. As Gareth James says:
The role of data has become a real opportunity....
We are now able to understand how we can optimize technical specs, or reduce the complexity for future campaigns, we can understand how we can bundle all that together from different brands, different markets, aggregate volumes together, improve the buying power, or reduce the cost.”
The Strategic Value of Print Management
Technology’s transformative effect on print marketing
Over the last five years, technology has changed the way brands are able to activate print campaigns. Greatly reducing complexity and friction, “Next-Gen” print management technology has taken the industry to a whole new level of effectiveness and efficiency, connecting a brand’s products and suppliers; automating procurement processes that ease the appropriation of assets at scale.
Providing in-depth visibility, print management technology:
+ Enables control and collaboration between brands, print managers and suppliers
+ Provides real-time reporting of invaluable insights that empower brands with the data they need to understand spend and return on investment across brands and markets
+ Ensures brands are able to respond and deliver the most effective print campaigns, at scale, with impeccable speed to market
The Strategic Value of Print Management
Sustainability and Diversity make print management essential
Sustainability and inclusion are central elements in every aspect of modern marketing. This makes it increasingly beneficial for brands to rely on print management partners that understand and deliver in line with their values and stay current on applicable regulations that can affect their communications.
Sustainability
The majority of global brands are committed to lowering their carbon footprints. Many have signed up to the UN’s Global Goals for Sustainability as part of their corporate values and objectives. Sustainability targets are made publicly available and many brands are keen to demonstrate their environmental commitments to reflect a growing demand from consumers.
Research from Forrester states,
Thirty-eight percent of US online adults reported that, over the past 12 months, it has become more important for them to buy from companies and brands that do embrace sustainable products and practices.”***
The use of sustainable print materials is growing every day. Working with a print production partner enables brands to build and deploy a sustainability roadmap that will work long-term, while also producing sustainable ROI.
Proactively planning future campaigns supports designing, producing and deploying campaign materials in a more efficient and less wasteful way. Future-planning also allows for volatility in the supply chain and changes to the cost of raw materials.
For businesses producing localized collateral, this can be a very complicated job. Adopting an outsourced print management partner can be an effective way to give necessary attention to sustainability goals, especially for brands with already-stretched internal teams.
Diversity and Inclusion
Representation of the world in which brands are doing business has taken center stage in marketing to consumers. More diverse imagery is available in the marketplace and data provides valuable information for creating more personalized communications. Knowing such facts as the education, income, interests and aspirations of customers and prospects provides insights that can be applied by print management teams with their client partners right from the strategy and pre-production phase.
It is important to also provide services aligned with client preferences in the production of print collateral. The right print manager has access to numerous and diverse businesses they can enlist on a client’s behalf.
The Strategic Value of Print Management
CONCLUSION
The future of print management
With printed materials driving digital engagement and vice versa, it’s more imperative than ever to join up the consumer experience, so audiences experience consistency no matter where and when they’re interacting with brands.
Brands that work with print management partners to deploy innovative technology and enable data insights to accurately measure the performance of direct mail campaigns, and at the Point of Sale, are succeeding.
As online and offline experiences are enhancing the effectiveness of the other in raising brand engagement and driving consumer behavior, the use of print will undoubtedly continue to grow.
References:
*The GDR Assembly: Retail Regeneration 09 2021 Vol 2
** POPAI: Unapologetically Analogue Global Trends Issue 50
A powerful partnership
As a marketing solutions provider and part of Konica Minolta, Indicia Worldwide offers Members of OMNIA Partners a unique value with a variety of Konica Minolta services through end-to-end marketing solutions like creative production, print management, martech, and more. With a 20-year proven history of growing this GPO membership, Indicia Worldwide knows the importance of realizing ROI through every stage of marketing and are thrilled to offer dedicated resources and executive level account participation. Visit the Konica Minolta Supplier site to learn more about how Indicia Worldwide’s integrated marketing approach can help you realize ROI in your business. Indicia Worldwide is the only agency that combines creative, data and technology talent with production and procurement expertise to improve marketing performance and efficiencies. A marketing solutions provider as a part of Konica Minolta, it realizes ROI for its clients by enabling them to deliver more engaging, cost-effective and sustainable customer experiences.
Indicia Worldwide is the only agency that combines creative, data and technology talent with production and procurement expertise to improve marketing performance and efficiencies. A marketing solutions provider as a part of Konica Minolta, it realizes ROI for its clients by enabling them to deliver more engaging, cost-effective and sustainable customer experiences.
To learn more about any specific area, please contact us at
OMNIAPartners@kmbs.konicaminolta.us.