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Print service providers (PSPs) have the right technologies to produce print communications. Unfortunately, that is not enough to guarantee their customers will have a positive return on marketing investments as they play in a highly competitive and very saturated market.
Marketers are competing to get their message across effectively. With budgets being a key consideration, the first casualty might sometimes be print over e-communications when it comes to planning a marketing campaign. That is hardly surprising given the lower cost, immediacy, and targeted reach of digital campaigns. However, marketers should tread a fine line: While e-communications are popular, the sheer volume of electronic messages peppering consumers’ lives can present a challenge when trying to capture an audience’s attention in a sea of emails and spam messaging.
This is where print can still wield an irresistible power—particularly when it incorporates colors and creativity, is customized/personalized, or when used in conjunction with e-communications. Its allure even spans generations, with plenty of studies showing that Millennials and Gen Z appreciate the tactile nature of print…that it’s something to linger on and appreciate as a chance to disconnect from the digital disruptions during our daily lives. Additionally, print is often delivered to a mailbox, which is one of the less competitive channels for marketers to communicate.
Exploring how marketers view print within their marketing strategies is a rich topic. Last year, we conducted an in-depth survey that targeted US marketers in eight vertical markets. Respondents reported an overall average company size of 850 employees, with an average marketing budget of $1 million, of which print represented a quarter. Some of the key insights from this study include:
- Marketing budgets are expected to rise 9% by 2024, but print spend will remain flat.
- Specific applications (such as direct mail, catalogs, and training materials) are growing in demand.
- Short-run, more-frequent print jobs will dominate.
- Price is not necessarily king, with more expensive specialty print sparking interest.
When it comes to customization, another Keypoint survey shows that consumers want to receive personalized communication. The main challenge for marketers here, however, is the lack of even a decent ROI. So, where is the disconnect? It is all in the perception of what consumers mean in regard to personalization. For consumers, personalized communication means something that is relevant, helpful, and informative. For marketers, even though the aim is the same (be relevant), it is tough to tell consumers what they want to hear and, therefore, for consumers to interpret the communication as personalized. Marketers use the service providers with the right technologies to change the message from consumer to consumer, which unfortunately does not guarantee relevance. Therefore, marketers struggle to get their ROI.
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Herein lies an opportunity for PSPs to step in and sell the value of print to their clients, with strategies that can incorporate customization/personalization; specialty printing; or e-connectivity options such as QR codes, augmented reality (AR), or near-field communication (NFC) tags. This is backed up by another Keypoint study, which revealed that only 5% of print buyers surveyed had no interest in purchasing specialty printing products in the next two years. Print is perceived as a commodity by many and, arguably, price matters. However, the print campaign strategies of marketers must be tailored to the target audience and how best to reach that audience. As all marketing-spend decisions should be driven by objectives and goals, marketers may have to spend more to achieve a successful campaign.
Keypoint Intelligence Opinion
Although marketers may prioritize e-channels, print still holds some sway, with pockets of growth in certain applications, including direct mail, catalogs, and training materials. Other traits, such as shrinking print lengths and a greater number of print jobs printed more frequently, are fertile ground for digital printing. Similarly, specialty printing, which includes customization, can create relevant and effective communications that can achieve cut through with consumers and prospects. PSPs must understand their customers’ marketing goals and objectives, and help them with their campaign strategies—using the strengths of print to improve ROI.
Browse through our Industry Reports Page (latest reports only). Log in to the InfoCenter to view research, reports, and studies on print in marketing through our On Demand Printing & Publishing and Customer Communications Advisory Services. If you’re not a subscriber, contact us for more info by clicking here.
