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We have been working with many print companies both of which are extremely successful and which are struggling to grow. Some of them were doing well for the first couple of years and now struggling to sustain.
Questions that we always ask the companies whom we help to streamline their Print Order Management, has helped us to identify some common traits of successful companies that are growing their sales and profitability.
This set of questions has helped us identify some common traits of successful companies that are growing their sales and profitability.
We have observed three common focus areas of Successful Companies.
While a lot of Print companies are unaware as to how to speed up their growth and take complete charge of their organization. They keep hoping that someone will walk in or refer them business.
Below we have taken a case study of one of our client's journey and listed a few of key questions, which have helped them analyze right strategies to grow from Print Shop to Trade Printer.
I) Identify a Niche:
Initially PSP started with Print Shop and had walk-in customers from varied backgrounds. Over a period of time they narrowed down to only signs and Trade only. Today customers want to work with experts, and over a period you should be able to define your core competency. Currently have been growing 40% year on year.
Few of the key questions, which helped them drive niche –
II) Increasing Sales
Our client decided to focus on signs and only trade, they started focusing on how to reach out and engage the target audience?
Few of the Key questions they focused –
III) Marketing Strategy: Knowledge Sharing
Understanding the client profiles, their strategy was to build trust and confidence based on knowledge sharing, helping the target audience grow. Versus earlier where they were only negotiating pricing.
Few of Key Questions –
They have a detailed marketing plan both for offline and online to reach out to new leads and increase repeat business.
VI) Grow Repeat business and Referrals:
Our PSP’s major focus was to keep the existing customer happy and increase repeat business, as getting a new client is 7 times more expensive than retaining existing customers.
Key questions they asked –
They have set up a very strong support team, who contacts every new lead to help in converting into sales, get feedback and constantly follow up with the management team to improve.
Wrapping up
Growth is a continuous and ongoing activity. We have been working from small print shops to a few of the world’s largest companies to help grow sales.
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