In my previous post I talked about the key factors took look at when considering expanding your services offering. One market opportunity that has been targeted for explosive growth is the area of Integrated Marketing Services.
Integrated Marketing Services (or Cross Media Marketing) is the all-encompassing term for launching one marketing campaign across a spectrum of media formats connecting with the target audience on a more personal and relevant basis.
For many Print Services Providers this is a natural extension of your services business and – armed with the right training and tools – you can launch a new customer offering successfully. Let’s say you were considering Integrated Marketing Services or Cross Media Marketing as a market opportunity. Starting with the end in mind, are the prospects for long-term revenue growth good?
According to Forrester research, marketers are going to spend over $55 billion dollars on Integrated Marketing Services through 2014. When you add all of the other services that fall under the marketing umbrella the number is over $150 Billion. This is definitely an area that qualifies as a high growth opportunity worthy of consideration!
With the rapidly changing marketing landscape, marketers are evaluating all aspects of how they “connect” with their prospects and customers. They are leveraging a vast array of new Cross Media Marketing tools to drive improved results. This impacts your company because they are looking for “partners” that can consult and recommend new media use cases for success. This leads to the question – “Are you a partner or a vendor to your customers?”
We are currently experiencing a dynamic shift in the print industry which is creating a number of implications for all service providers. Cross Media and Web-to-Publish services will impact traditional printing and Web-to-Print. Businesses will form partnerships or acquire the new skill sets to participate in data analytics and behavior modeling. No service provider will be successful if they can’t quantify and communicate their value proposition and provide the ability to measure their effectiveness for their customer.
What’s the key for success in 2011? Providing high-value services to your customers that they want and need that meet their objectives and deliver quantifiable results that improve ROI.