Cross Media Top 10

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Diversify, Diversify, Diversify! Like any good financial advisor will tell you, diversification helps to create stability and mitigate risk. Printers have been hearing similar messages from industry leaders at numerous conferences over the past few years: “Don’t just be a printer,” they say. Given the constant shifting marketplace, expanding beyond just print is both a sound business strategy and necessity. Offering cross media services is a natural fit because it leverages a printer’s core competency of customized manufacturing. But where do you begin?

Our friends at InfoTrends surveyed and Interviewed over 300 printing firms to gather some real life tips and tricks, and we’re happy to share the top 10 best practices they uncovered. The report, published February 2012, was authored by Senior Consultant Lisa Cross.

Brought to you by Mohawk MakeReady, this presentation can be used by your business for internal training or customer initiatives. (Even plop in your own logo and co-brand it, if you want!)

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  • Diversify, Diversify, Diversify! Like any good financial advisor will tell you, diversification helps to create stability and mitigate risk. Printers have been hearing similar messages from industry leaders at numerous conferences over the past few years: “Don’t just be a printer,” they say. Given the constant shifting marketplace, expanding beyond just print is both a sound business strategy and necessity. Offering cross media services is a natural fit because it leverages a printer’s core competency of customized manufacturing. But where do you begin? Our friends at InfoTrends surveyed and Interviewed over 300 printing firms to gather some real life tips and tricks, and we’re happy to share the top 10 best practices they uncovered. The report, published February 2012, was authored by Senior Consultant Lisa Cross. Brought to you by Mohawk MakeReady, this presentation can be used by your business for internal training or customer initiatives. (Even plop in your own logo and co-brand it, if you want!)
  • Let’s start by explaining what we mean by the term “Cross Media.” Cross media is the act of distributing targeted marketing messaging across multiple channels. A simple analogy to explain this concept is a tree, which has numerous roots. Think of each root as a channel and the tree itself as the whole message or campaign. Cross media refers to taking a focused marketing initiative (such as to increase donors for a non-profit) and crafting a marketing campaign to accomplish that goal thru many channels. This could include any combination of the channels listed above such as print, e-mail, and social media. A common example is utilizing direct mail with an online response mechanism, such as a Personalized URL (PURL). Now, let’s take a look at the top best practices hundreds of firms are using to build cross media services.
  • The first step to offering new services is to establish responsible leadership. This could be you, your CEO, or maybe a head of business development if you have one. This is important because cross media services impact many different departments within the company such as IT, Design, Marketing, Sales, Estimating, Production, and Finishing. Who will lead this business change within your company and foster collaborate across departments? MakeReady Tip: Designate a leader who can collaborate with employees across departments to plan and develop the strategy for offering cross media services.
  • Don’t ignore the print side of your business! But think about how you can reposition yourself. As many respondents said, “If you smell like only a printer, marketers will run.”The majority of firms took one of three paths: they dropped print from their name, they kept the word “print” but added other descriptors, or they created a spinoff company. Multiple companies in the industry have created separate companies to act as a marketing agency, backed up by the print company handling manufacturing. This allows you to leverage your core competencies as a print service provider while exploring new services to generate business. MakeReady Tip: Retool your company’s value proposition
  • Firms that have successfully evolved into cross-media service providers report that a key catalyst to capturing business is identifying a unique business problem in a particular market and solving it. Can you think of a client with a problem? (No, we’re not talking about a problem client!) Perhaps a local university is having trouble reaching alumni and getting them to donate. Or a local small business is looking for a unique way to advertise their offerings. If you approach a prospective client with a solution to a business problem, you may have more success than when you start by pitching your own services or capabilities.
  • Now that you’ve identified a solution to a problem, focus on it. Re-frame the conversation to focus on the actual solution and potential results, instead of leading the discussion with print components. Check out our examples and think about which clients they might apply to.
  • One Senior VP of Business Development said it best, “Customers need to know what you’re doing. When you’re selling print, it’s an easy process because you just send [physical] samples…” She then goes on to explain why it’s different with cross media…
  • “… but with cross media, you need a history showing what you can do. We found self promo and case studies help to establish credibility.” Amplifying that message, the president of a quick printing franchise with 3.6 million in revenue added “Plain and Simple… if you don’t buy into self-promotion, you will fail. The campaigns we’ve sold came from testing our clients with our own campaigns.” MakeReady Tip: Walk the Talk—self-promote and show off your cross media capabilities.
  • If you look like the expert, you’ll also look like the hero. “Self-education is a critical stage in the evolution,” notes one firm’s President. If you take the time to become an expert in the various channels and the sales process, you can simplify the process for your customer. Take the time to learn about web, digital, social, QR codes, augmented reality etc. Oftentimes your prospects are confused at all the mediums for communication and need a little guidance. How many times have you heard “I hear it’s great, but I don’t know what to do with social media for my business.” All of these moments can provide OPPORTUNITY for your business to provide a service.
  • OK, now that you’re an expert you need to spread the word and start educating your prospects. Business may not be coming to you for cross media because they simply don’t have a grasp of the concept. Show them how you can deploy the targeted messages across various channels such as print, web, and mobile. Some companies have approached this education via the web by offering webinars and e-newsletters, while others have reported hosting physical events such as lunch and learns or “university-type” classes on specific topics. Guess what. You can also use these education resources for lead gathering. If you’re making white papers or webinar recordings available to your customers, put up a simple customer contact form before accessing the online content. Your prospects give you a lead while gaining the useful info. It’s a win-win. Establishing relationships in a live event is another great way to gather leads in a non-threatening environment, such as providing business cards to enter into a giveaway for that session. MakeReady Tip: Leverage MohawkMakeReady.com for your content! There are over 100 pieces of content spanning a wide variety of useful topics ready to be repurposed by you.
  • Successful providers of cross media marketing services report that placing full responsibility for selling these services on the sales team has not worked. Instead, they are using a team selling approach. According to one marketing VP at a large Midwest firm, “Sales is the scouting team for deals; we’ve found it ineffective to put everything on the sales person. Instead, the entire team is involved when making presentations to clients. Sales identifies and qualifies the opportunities and building the relationship, but the team collaborates to pitch the solution.” MakeReady Tip: Take a team approach to selling these solutions.
  • Pricing is an art form and a juggling act. Firms interviewed reported that while some elements of the price are standard, most of the pricing is based on scoping individual project requirements to determine baseline costs, marking up costs to achieve preferred margins, all while considering the customers budget requirements. It is important for firms new to cross-media to avoid giving away services to win print work and set pricing based on the value to buyer.
  • So you’ve done your homework, re-tooled your company’s value proposition and changed your sales process. Now what? Be patient: The firms that were interviewed were quick to point out that success was the result of trial and error and it took time. You can’t make a dynamic shift to your business overnight, but these 10 little steps will help to get you started.
  • Let’s recap the top 10 Best Practices reported by over 300 firms in the InfoTrends research.
  • Digital printing is changing…and fast. That’s why we created Mohawk MakeReady. A go-to place for guidance, insights and tools to keep you prepared for what’s next. There’s a reason we named this service MakeReady … a little irony, too. Taking a familiar industry term in a new direction, Mohawk MakeReady offers ways for you to make more efficient use of your time, material, people and entrepreneurial energy. To grow your digital printing business, you need to be prepared — with actionable information and tools — so your team can implement best business practices, craft effective sales strategies, and create opportunities to use and promote new high-value products. That’s what you’ll find here: an ever-expanding site , rich with content built on the experiences of digital printers like you. As a leading manufacturer of digital substrates, Mohawk brings you practical wisdom gained from our experience in sales, marketing, production, and operations. With how-to articles on marketing your business, videos on topics like precision sheeting, and PowerPoint presentations showcasing how to identify sales opportunities. All strategies you can put to work today. Talk to us. Let us know what’s on your mind. Mohawk MakeReady. Dedicated to making you ready for the exciting future ahead.
  • Cross Media Top 10

    1. 1. Best Practices from over 300 firmsApril 2013 Download Now --- to see full ---Research by InfoTrends 2012 Speaker Notes April 2013 | Cross Media Top 10 1
    2. 2. { Marketing Message Print Web E-mail Social Media Cross Media TV The act of distributingMobile Tablet Radio targeted marketing messaging across multiple channels. April 2013 | Cross Media Top 10 2
    3. 3. 1. Leadership FocusSuccess in offering cross-mediamarketing services requiresleadership with a focus on marketingand new business development. April 2013 | Cross Media Top 10 3
    4. 4. 2. Reposition Evolve into more than a traditional printer.April 2013 | Cross Media Top 10 4
    5. 5. 3. Identify & Solve a ProblemStart by identifying a unique businessproblem in a particular market andthen solve it. April 2013 | Cross Media Top 10 5
    6. 6. 4. Talk Tactics, Strategies and GoalsNow that you’ve identified a solution • Driving in-store traffic andto a problem, focus on it. Re-frame revenue per storethe conversation to focus on the • Re-igniting relationships withactual solution and potential results, orphan customersinstead of leading the discussion withprint components. We’ve listed some • Increasing eCommerceexample goals on the right: capabilities • Increasing ROI April 2013 | Cross Media Top 10 6
    7. 7. As one Senior VP of Business Development said, “Customers need to know what you’re doing. Whenyou’re selling print, it’s an easyprocess because you just send [physical] samples…” April 2013 | Cross Media Top 10 7
    8. 8. As one Senior VP of Business Development said, “… but with cross media, you need a history showing what you can do. We’ve found selfpromo and case studies help to establish credibility.” April 2013 | Cross Media Top 10 8
    9. 9. 6. Educate your staff“Self-education is a critical stage inthe evolution,” notes one firm’sPresident. If you take the time tobecome an expert in the variouschannels and the sales process, youcan simplify the process for yourcustomer. April 2013 | Cross Media Top 10 9
    10. 10. 7. Educate Customers Share knowledge, spur project ideasApril 2013 | Cross Media Top 10 10
    11. 11. 8. Team selling seals the dealFirms reported achieving the mostsuccess when they implemented ateam selling approach that includesits various project experts (ie.marketing, data, IT, design, sales),instead of putting sole responsibilityon the sales person. April 2013 | Cross Media Top 10 11
    12. 12. 9. Use value-based pricingDon’t give away these new servicesto win new print business. Establishpricing based on value to the client,not typical price per unit.Read about some pricing strategiesin our presentation entitled:The Pricing Puzzle. April 2013 | Cross Media Top 10 12
    13. 13. Be patientSuccess is a process thattakes some timeApril 2013 | Cross Media Top 10 13
    14. 14. Top 10 Best Practices• Have a leadership focus• Reposition, retool your value prop• Identify and solve a chronic business problem• Focus on tactics, strategies, and goals• Self promote to establish credibility• Educate your staff• Educate your customers, prospects• Take a team selling approach• Use value-based pricing• Success doesn’t happen overnight, be patient Research by InfoTrends 2012 April 2013 | Cross Media Top 10 14
    15. 15. We can help… Mohawk MakeReady provides practical tools and actionableinformation for digital printers like you. Visit: www.MohawkMakeReady.com to browse content, request a meeting, or join the community. April 2013 | Cross Media Top 10 15

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