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newsletter archives
January 2007 - Article: Methods to consider in the highly competitive book printing industry - By The bookhitch Staff
If an external analysis of your industry showed company, and industry consolidations sparking new entrants and increased competition, would you know how to position your company?
We all know that the print and publishing industries are directly related, but what we have come to know and understand about these industries is dramatically changing before our eyes. Technological advances have meant that it is simpler, quicker and cheaper to print materials, and new business opportunities have meant that many larger competitors are milking the supply chain in their favor. Companies are consolidating and expanding to form one massive bubble of intertwined service offerings and subsidiaries. For example, traditional printers are offering marketing, and design services, as well as distribution via traditional networks and online companies. Non-traditional printers are now offering quick-bind services for short-run books. So, how do you survive with every company eating away at your profits?
As the old saying goes, you have to roll with the changes. Every businessperson knows that your company cannot standstill for a moment because if you do you won’t be up-to-date with the new technologies and opportunities within your market. Also, always look for opportunities outside of your market. Tear your company apart, so to speak, and put it back together again. Find your strengths and weaknesses and use your strengths to position yourself within the market to take advantage of new opportunities. Use this positioning to utilize new and unique marketing prospects, namely the Internet; blogs. Try offering your own e-mail newsletter services to better reach your business contacts, and present information that other businesses need to raise awareness of your own services. This may even mean writing your own informative articles, but it will also keep you and your staff up-to-date with changes in your industry as well as others. Expand your service offerings, partner with a company, or simply utilize a mutually beneficial marketing arrangement to recommend each other’s services. Offer distribution options, or bookselling opportunities from your own website, then use sites such as bookhitch.com to showcase your books, company and website. Take advice and listen to all members of staff, and create a wall where anyone can write their ideas down and expand on each other’s.
Printing methods have dramatically changed from text once being carved into marble and wooden objects to disseminate important information to today’s technology. If we didn’t take advantage of the numerous technological, socio-cultural and economic opportunities within the external environment then you would be reading this on a scroll, delivered by a horse. Companies have to take advantage of new, unique opportunities within the industry to stay ahead of the competition and vie for your customer base. Create and expand on old ideas to keep your company ahead of the competition.
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