Recent research indicates that print service providers (PSPs) understand the critical importance of getting into cross-media marketing services. A survey of 285 print service providers shows that 58% of respondents are offering some level of cross-media marketing services today. Furthermore, 87% of respondents were either offering these services today or had plans to offer them in the next 24 months. However, PSP buy-in alone is not the only factor needed to make cross-media marketing successful. A critical component in advancing this market evolution will be support from equipment and software vendors. The vendor community has a major role to play through training, education, and marketing support.
In InfoTrends recently released study entitled The Evolution of the Cross-Media Marketing Service Provider, research confirms that PSPs are seeking assistance from vendors in several areas, including self-promotion, marketing and sales, business development services, pricing strategies and tactics, and technical training. Furthermore, offering cloud-based services can help more firms get established in the market while also assisting those that have already made the shift to cross-media.
These results are in line with what PSPs consider the major concerns and pain points in offering cross-media marketing initiatives to their customers. Among PSPs who were currently offering cross-media services, the top challenges were determining how to price services and educating clients. Those who were planning to offer services believed that training staff on campaign execution and determining how to price services were the top challenges.
“The good news is that vendors can help PSPs,” commented Lisa Cross a Senior Consultant at InfoTrends and the project manager of the research study. InfoTrends offers the following recommendations to vendors:
Work with your clients - Industry vendors that work with their clients to develop a full understanding of their specific service offering stage will be better positioned to help drive business forward.
Educate - There is a strong need for education across the board. Vendors must provide educational programs and tools for customers at various levels aimed at the business and operational sides of an organization.
Consider the cloud - PSPs and in-plants are seeking easy entry into cross-media, and cloud services offer an expedient and cost-effective way for them to offer these services.
Be an active participant in your customers’ success - Firms offering cross-media marketing services increase their digital print volumes and offset losses due to shrinking print volumes. Investing in the success of your customers is a winning scenario for all parties.
Cross continued, “Vendors have a lot to gain in providing fuel for the evolution. Our study shows that PSPs offering cross-media marketing services report a 13.7% increase in digital print volumes. Software providers can also get in the game and gain share via offerings that support companies looking to make the transition, or those hoping to further expand or improve efficiencies.”
The Evolution of the Cross-Media Marketing Service Provider is available immediately for purchase. For more information on the study or to sign up as a participant, contact Jennifer Skerrett at +1 781 616 2100 ext. 111 or e-mail firstname.lastname@example.org.