FESPA 2015: Explore undiscovered galaxies of opportunity
The wide format industry is changing, and the business owners who are most optimistic about the future are those who understand that they need to identify ways to add new applications or acquire new customers.
The wide format industry is changing, and the business owners who are most optimistic about the future are those who understand that they need to identify ways to add new applications or acquire new customers. With 68 per cent of wide format print providers relying on FESPA exhibitions to hear about new industry developments and 52 per cent planning to research new markets in the coming year , the most forward-thinking print service providers (PSPs) will be donning their metaphorical space suits to journey to unexplored corners of the ever-expanding wide format print universe at FESPA 2015 in Cologne.
Acclimatise to the atmosphere
The dynamics in relationships between customers and print service providers have shifted. Â´ItÂ´s no longer just about print by the sq m,Â´ said Ron Gilboa, Director of Functional Printing & Packaging for InfoTrends at the 2014 FESPA Global Summit in Munich. His message is one that is being taken to heart by PSPs across the wide format print industry, many of whom are working to develop longer term partnerships with their customers.
TodayÂ´s print buyers are not looking for suppliers, but for creative solutions to their projects and objectives and any challenges they may face. For marketers focused on proving return-on-investment for example, PSPs need to help them plan and deliver integrated, targeted marketing campaigns, which can be measured and swiftly adapted according to audience response. Brand owners looking to differentiate themselves in a crowded visual communications space however, are looking for PSPs who will recommend innovative solutions such as blending conventional print with printed electronics or using inks to create special effects.
Brands however are not the only ones looking for ways to stand out. As was reflected in many presentations at the FESPA Global Summit, we are living in an age of individuality. People not only want to express their personal identity in everything from their clothing to their environment, but they also want consumer experiences tailored to their preferences. In fact, 59 per cent of respondents to the FESPA Print Census said that more clients are asking for versioning and personalization. This mass customization trend, together with the move toward shorter runs and on demand production that accompanies it, is not only driving the adoption of digital technology in the wide format print industry, but also wider consumer demand for bespoke applications in areas such as dÃ©cor, textile printing and vehicle graphics.
Open up galaxies of opportunity
This new market environment is creating constellations of new opportunities for PSPs. Opportunities in printed dÃ©cor, for example, are not confined materials or signage for companies such as retailers, restaurants and hotels, producing commercial interiors applications for these same clients could be an exciting opportunity to begin diversifying into the dÃ©cor sector.
Textile printing also presents a substantial opportunity for diversification and expansion. Although only 29 per cent of respondents in the FESPA Print Census regularly produce textiles for garments, 71 per cent expect textile printing for garments to grow as a percentage of their wide format business. When it comes to textiles for dÃ©cor applications and soft signage these figures are 66 per cent and 63 per cent respectively. Indeed, 34 per cent of PSPs in the census said that the capability theyÂ´d be most interested in when investing in a new device would be textile printing capabilities.
As many successful PSPs already know, opportunities donÂ´t only come from new customers. Often you can grow your business more efficiently by offering new services to existing customers. With marketers and brand owners eager to differentiate their communications in a competitive marketplace, wide format PSPs need to f