In an industry where margins are tight and competition is fierce, finding smart ways to reduce printing costs is a must. As we step into 2025, print businesses must rethink their operational...
In an industry where margins are tight and competition is fierce, finding smart ways to reduce printing costs is a must.
As we step into 2025, print businesses must rethink their operational strategies to stay ahead. The good news? There’s never been a better time to embrace innovation.
From automation to real-time analytics, print businesses now have access to tools that not only lower expenses but also drive profitability. Imagine faster turnarounds, fewer errors, and the ability to offer premium, personalized services that keep customers coming back. With the right moves, your business can stand out in a crowded market, diversify its offerings, and operate more sustainably—all while trimming unnecessary costs.
This blog uncovers cutting-edge print cost management strategies to make it happen. Learn how automation can power your growth, real-time cost tracking can prevent financial waste, and smart procurement can reduce material expenses. Plus, discover why diversifying your services and embracing sustainability aren't just ethical choices but profitable ones.
Contents
- Embrace automation for enhanced efficiency
- Implement real-time cost tracking
- Stand out in price competition with added value
- Diversify your services to capture new revenue streams
- Adopt sustainable practices without increasing costs
- Optimizing procurement
- Building a high performing print business
Embrace automation for enhanced efficiency
Automation has revolutionized the print industry by streamlining various workflows—automating everything from prepress to postpress and delivery. Modern print productivity solutions offer modular automation, enabling even smaller print companies to benefit. These solutions facilitate quicker job setups, efficient materials handling, and error reduction. Automation ensures consistency and speed, allowing businesses to manage high volumes with fewer resources, creating a faster return on investment.
In 2018, the number of people employed by these printing businesses was 4.8 million. That number fell to 4.0 million in 2022, for a reduction of 14.8%. The decline is consistent across all regions. - Smithers
Automation may seem like a costly upfront investment, but not automating can be even more expensive over time due to inefficiencies and increased labor costs.
Implement real-time cost tracking
Print productivity solutions offer advanced cost tracking and procurement management. Businesses can leverage data analytics to monitor expenses and make more informed decisions about inventory, reducing waste and optimizing usage. Real-time cost tracking helps identify areas where cost-saving adjustments can be made, such as choosing more efficient materials or suppliers.
Efficient print cost management is crucial in an industry facing rising material costs. Automation and real-time analytics play a significant role in reducing waste and optimizing material use, directly impacting profit margins.
Stand out in price competition with added value
“There are certainly a number of printers out there who are selling in a more sophisticated way and there are also a large number who aren’t. It’s a game of two halves.” - Matthew Parker, author of the book How To Stop Print Buyers Choosing On Price
To compete in a crowded market, printers must enhance the value they offer customers. This can be done by leveraging productivity solutions to offer quicker turnaround times, reduce the frequency of errors, and provide highly personalized services at scale. The ability to provide higher quality products with more efficiency allows printers to justify premium pricing and retain clients through added value.
Standing out in price competition isn't just about lowering prices; it's about offering superior services that justify the cost. Competing on price is, to some extent, a necessary evil in an industry where the quality of print production is relatively uniform across the board. However, the way a business approaches selling a piece of print can be a game-changer, helping to differentiate its offering and ultimately impact the bottom line.
Diversify your services to capture new revenue streams
Total estimated weekday circulation of U.S. daily newspapers was 55.8 million in 2000 and dropped to 24.2 million by 2020, according to Editor & Publisher and the Pew Research Center.
With the shift towards digital media, the demand for traditional print products has declined. Modern print solutions allow businesses to branch out into digital printing, signage, packaging, and even fulfillment services. By offering a wider range of services, such as variable data printing and digital marketing integration, print businesses can capture new revenue streams and provide end-to-end services for their clients.
Additionally, the adoption of digital technologies enables businesses to widen the geographical areas they serve. By leveraging online ordering platforms, digital proofing, and remote project management tools, print businesses can reach clients beyond their immediate local markets. This expanded reach opens the door to new business opportunities, fosters customer growth, and enhances competitiveness in a rapidly evolving industry.
Adopt sustainable practices without increasing costs
“From newspapers to magazines, from photocopies to leaflets, from letters to boxes, we believe print and paper cannot be beaten for attractiveness, impact and sustainability”. (Two Sides, 2021)
Sustainability is becoming a must-have for print businesses. Clients are increasingly looking for partners who adhere to environmentally friendly practices, and regulations are moving in the same direction. Productivity solutions help streamline resource usage, cutting down on waste, energy consumption, and material overuse.
Many solutions also integrate sustainable materials tracking, allowing businesses to ensure that they are sourcing certified, eco-friendly materials. By reducing waste and optimizing processes, companies can lower costs while promoting their environmental stewardship to attract eco-conscious clients.
Optimizing procurement
Effective procurement is essential for controlling costs in the printing industry. By leveraging data-driven strategies, businesses can negotiate better deals with suppliers, manage inventory more efficiently, and reduce waste. Implementing procurement management systems helps track expenses, monitor supplier performance, and identify cost-saving opportunities.
Optimizing procurement involves continuously analyzing spending patterns and making adjustments to purchase more efficiently. This can include bulk purchasing, finding alternative suppliers, or switching to more cost-effective materials while maintaining quality.
Building a high performing print business
For a comprehensive guide on transforming your print business, download the 'Building a High-Performing Print Business' eBook. This resource dives into core challenges such as cost management, automation, and diversification. Each chapter provides practical strategies to help you build a future-proof print business.
The eBook covers topics including unlocking efficiency through automation, gaining control over rising expenses, standing out in a crowded market, expanding beyond traditional print, profitably meeting personalized demand, and meeting green expectations without sacrificing profit. By embracing these technologies and approaches, print businesses can not only survive but thrive in an increasingly competitive and digital market.
