In the past several years, the print industry has seen its long-lived slide in demand and revenues slow to a halt, with many competitors therein beginning to enjoy gains in opportunity and financial health. From adjustments to production that lead to more eco-friendly capabilities and greater relevance in the digital era to shifting sentiments toward paper assets in business, the print industry remains resilient and poised to begin building once again.
Although many major players in print have continued to consolidate their departments and operations in order to reduce the risk of financial loss, others have not quite dropped the ball on maintaining their traditional objectives. Looking forward into the next few years, it is yet to be seen how all of these trends will play out. However, it is becoming clearer that the print industry is in a position to experience a resurgence should some of the more pressing shifts in demand sustain themselves.
A hopeful beginning to 2015
Printing Impressions recently released a report it conducted in conjunction with staffing firm Semper International to evaluate the financial performances of print industry players in 2014, as well as what is to come in the next year. Semper International offers staffing services to print companies, and questioned all of its clientele regarding their revenues, profits and general sentiments when viewing demand and opportunity in 2015.
According to the report, 85 percent of respondents affirmed that their profit margins were better than ever before in 2014, and that they had enjoyed consistent sales growth for five straight quarters leading up to 2015. What's more, 80 percent of respondents have now enjoyed healthy profit margins for nine straight quarters, which can easily be viewed as an indication that the sector is certainly returning to a more sustainable stature.
The source noted that there are a few causes for concern that might become a bit more intense in the coming months, such as the financial strain attached to the employer mandate component of the Affordable Care Act. However, all businesses are facing these challenges – not just those in the print industry – and the right types of approaches to management and strategy will help firms overcome the obstacles involved.
Finally, Semper International and Printing Impressions found that hiring among print industry players increased by 38 percent in the final quarter of 2014, which acts as further reason to be hopeful in the sector.
Capitalizing on print
Business leaders who are interested in finding a way to separate themselves from competitors should always consider the merits of print marketing and sales assets, which are not nearly as commonly used today as in the past. With an integrated strategy that makes the most of print and digital marketing capabilities, companies can expect to see their brand stature reach higher levels over time.
With the print industry making its own changes to become more effective, efficient and profitable, the opportunities to capitalize on these types of investments will be vast in the coming years.