New specialty inks and embellishments are going mainstream for customers of production digital printing. Many printers are engaging manufacturers and contemplating when to begin offering the wide range of projects and campaigns enhanced by these new capabilities.
The question for many graphic communications providers is how best to go to market. Covid 19 has changed how we engage customers. If you have not rethought your approach to the digital specialty ink market, now is the time. Equipment, Ink, and substrate provider will continue to release capabilities that allow printers to add value and margin. We are seeing digital printers making specialty inks and embellishments a key part of their post-Covid business plan.
Keypoint Intelligence-Info Trends estimates that 30% of offset printed color pages (the US and Western Europe) have some type of enhancement beyond the four process colors—that’s about 1.9 trillion pages. This fact combined with the opportunity created by the short-run advantages of digital production printed offers an enormous growth opportunity.
Digital presses can produce customer-attractive projects using white, clear, metallics and fluorescent inks that dramatically grab customers’ attention. Unfortunately, most customers are not aware of the exciting new capabilities.
Here are seven game-changing strategies to accelerate sales:
1. Dust off the Marketing Plan
This is a good time to look at the business strategy. Before you start marketing or selling specialty inks, take some time to identify specifically what markets, accounts, and products will be targeted. Do you have everything in place to make a splash?
2. Move to Value-Based Pricing
Value-Based Pricing is a pricing model that sets selling prices on how much the product and service are worth to their customers versus what it cost to produce. There is a window to gain higher prices before specialty inks become pervasive. Salespeople, customers, and competitors do not set prices. CEOs and owners of print producers do.
3. Test the Value Proposition
Every member of the company should be able to articulate the benefits for customers of using specialty inks. If they can’t, customers will not be motivated or excited. Make sure every employee and marketing platform articulates the added value of specialty inks.
4. Gain Leverage Across Media Platforms
Customers love specialty inks. Use all marketing channels to promote them using vibrant images and case studies. All the equipment and ink manufactures have abundant samples and ideas.
5. Target Dream Accounts
Use the benefits of specialty inks to reengage underpenetrated or new accounts. One new account or market gained could easily justify the cost of producing specialty inks.
6. Align Sales Compensation
Ensure sales representatives are incrementally and specifically compensated at sales of specialty.
Get their attention. Gaining traction will require commitment, extra effort, and the skill of sales representatives. Higher margins and higher sales are worth the extra cost.
7. Get the Sales Team on Board
Initially, successful direct selling will have the greatest impact. Take the time to train the sales team. Make sure each salesperson knows where to go, what to say, who to call on, and what to share on each sales call.
Like anything else in printing, there is a window of opportunity. If you have not looked at digital embellishments and specialty inks, this is the time to start. We have produced an assessment for printers to help them identify production and sales competencies that need to be mastered to successfully sell specialty inks. Feel free to contact us at info@intellectives.com.