Everyone now understands that, with second or third wave of the Covid-19 virus spread in different parts of the world, much remains uncertain. But one thing is for sure: that your customers, suppliers, and competitors are watching. And how a business handles its recovery will in part define its reputation and performance for years to come.
Though not every business will recover from this crisis, but those with an optimistic outlook and risk appetite can bounce back and grow amid uncertainties. As changing customer needs and buying behaviours are disrupting traditional business models and pushing companies to accelerate digitization, it is time to realign your business with new normal and setup your recovery plan.
Rebuilding Stronger: Here’s How Print Businesses Can Bounce Back
As the industry adapts to new customer behavior and market realities, print service providers must rethink how they operate, sell, and grow. Here are five critical questions to guide your recovery and help future-proof your business.
1. What customer buying trends should print businesses expect in the post-pandemic world?
Unless you’re living under a rock, you know the eCommerce industry and online shopping is growing at a fast rate. And pandemic has already led customers to buy online, so that they can avoid going out to buy at stores.
There are many perks of shopping online for buyers:
- You don’t have to leave your bed,
- You can opt for next-day delivery,
- You have access to more product information, and
- You may have a more personalized shopping experience.
Hence, printing businesses should be ready to sell their products and services online. Sellers must aim to help their customers find everything they need on the online store and deliver it safely to them.
2. With face-to-face interactions shifting online, how will this impact demand for print orders?
While in-person sales has always been a crucial benchmark for the economy as a whole, but in coming times, things are going to be slightly different as the pandemic keeps people indoors. I believe that online orders are going to lead the sales in near future. And printers can see an opportunity in rising demand for short-run online personalized orders.
3. How can print service providers prepare for the year ahead and recover lost business?
Market recovery is always an opportunity to start afresh and build your brand to drive sales, so use it to your advantage. To get the expected results, you need to reset your product catalogue and services. Purge the irrelevant products in your catalogue and introduce the new ones as per demand created by Covid-19. Then align your workplace and workforce as per new safety and workplace regulations setup by your local regulatory authority.
Then fill up your annual marketing calendar by working on the sales plan for dates that are relevant to your business and mark the highest sales seasons. Right timing, playfulness, and personalization go a long way in building relationships with your customers. Be honest and transparent with your campaigns – people appreciate that.
4. Which print products are seeing the highest demand—and how can printers capitalize on them?
For the eCommerce industry, the top selling category has always been electronics, especially mobile phones, followed by apparel. Though these remain the dominant categories, others are emerging primarily due to COVID-19. The best example of this is floor graphics, corona signs and posters, healthcare products like forms and signages as well as protective gears like face masks, face shields, sanitizer dispensers and sanitation stations. You can leverage the increasing demand of these products and expand your product offerings by partnering with dropship vendors and 3rd party inventory suppliers.
Printing is indispensable for personalized orders and today digital printing has brought a revolution. It has enabled printers to accept short-run jobs for all sort of products, from personalized clothing, gift items, photo books, wallpapers, and flexible packaging to furnishings and décor.
5. What kinds of offers, discounts, or incentives are most likely to attract and retain customers?
The offline segment has seen incredibly low volume of business this year due to low footfalls, which could prevent offline businesses offering deep discounts to attract buyers. And that comes as an opportunity for online players.
To focus on winning new customers, offer smart discounts on total order value or quantity ordered. Offer FREE shipping to encourage them for online ordering. Yes, you can charge premium for personalized services like assistance in designing the artwork or photo enhancements.
And for retaining existing ones, you can offer discount coupons as loyalty bonus so that they keep coming for more.
