In the print industry it is fair to say we all love print and are great advocates for producing the printed page over distribution of electronic media. The problem is we’re not very good at selling the benefits; sales pitches always tend to get a bit defensive, wooly and abstract. The fact is UK marketers are wasting billions of pounds by relying on gut instinct and guesswork rather than proven data and rational decision-making. A new study of 459 marketers by software firm marketing QED revealed the following insights.
39.4% - said they were more likely to simply follow what their firm has tended to do in the past or what seems to be the commonly accepted practice in the industry
37.2% – of firms do not use any analytics tools whatsoever
22.4% – do no evaluation on whether their choice of marketing channels has been effective
25.6% – have never employed statisticians, economists, data analysts or other data specialists to forecast or evaluate their campaigns
28.6% – of marketers estimates that at least £1 in every £5 they spend is wasted
6.1% – sought advice from outside agencies
Most printers struggle to have marketing conversations with their customers as they are more comfortable talking about the products they produce. The statistics above give a clear indication that printers need to use digital print in combination with purls and emails to provide their customers with analytics and a reporting structure that demonstrates a clear RoI. If they can achieve this, they will be delivering a service, which will be of significant value to their customer. This type of feedback will allow them to become central to a customer’s marketing plans as an advisor and collaborator not just an interchangeable supplier of print.