Presently, most of the printers in India have been revamping their facilities by installing new equipments or upgraded versions of the existing machines. With these initiatives, productivity is increasing significantly, but to ensure a balance between productivity and availability of workflow has not been so easy. As such many printers tend to reduce rates to acquire adequate workflow and enter the cut-throat competition. With the adoption of this policy, profit margins are shrinking, which is not good sign in long term perspective. Those customers who are being offered low rates now may not be willing to pay more that easily in near future, resulting negative impact on printers’ revenues. Ultimately, overall outcome for printers remains similar despite making huge investments.
Obviously, this problem is proving a major hurdle in the progress path of many printers in India and they are endeavouring to overcome it by taking various measures. As generally happens there are many solutions to be adopted in this regards, but the most appropriate ones may be ‘value additions’ in their offerings. Printers need to consider bringing value additions instead of reducing the rates, like introducing speciality paper; metallic/special shades; offering personalisation; integrating printing processes (offset+screen+digital) to achieve benefit of each; and providing, last but not the least, innovative binding solutions.
Printers need to keep it in mind that solely quantitative improvements generally don’t bring optimum results. Just to equip their facilities with high-end cutting-edge technologies to increase productivity is not adequate, but they will have to go ahead equally strengthening their services otherwise as well. With value additions, printers can execute each and every job far beyond the expectations of the customers. They can also promote their innovative printing concepts to inspire print buyers for making effective decision about the print requirements.
Adopting the concept of value additions will provide printers not only enough workflow to utilise their equipments up to the optimum level, but increase their revenues. With such interesting offerings, printers can also attract new customers from India and overseas as well who prefer to be served uniquely. Undoubtedly, print buyers would be ready to pay extra rupee for getting value additions to their products, resulting direct advantages to printers’ community.
Wishing you all better business in the new financial year!