The cross-media market is dynamic, growth-oriented, and a major contributor to the future of the printing industry. InfoTrends recently completed a study entitled The Evolution of the Cross-Media and Marketing Services Provider. This study surveyed more than 280 print service providers (PSPs) to understand the current state of cross-media and the evolution taking place in the graphic communications market. The first key message is that service providers as a community nderstand the critical importance of getting into cross-media services. Of the 285 total respondents, over 58% are currently offering some level of cross-media services.
The second key message is that companies taking a leadership posture in cross-media are growing revenue from both cross-media as well as expanding digital print. Respondents offering cross-media services indicated that offering cross-media marketing services increased their digital printing volume by an average of 13.7%.
Participating in the More Lucrative Cross-Media Revenue Stream
The marketing executive is the key decision-maker in cross-media services. These marketers are facing a number of challenges in the transition to cross-channel marketing, from strategy to design and deployment to tracking and measurement. The sheer scope of the cross-channel marketing model, and the new innovations that continue to appear, make it difficult for marketers to keep up.
Marketers are reaching out to their traditional print service provider and agency partners for assistance. To date, they are primarily doing this selectively for specific functions. No single partner fits the bill for a wide range of services.
During an October 2010 study entitled Capturing the Cross-Media Direct Marketing Opportunity, InfoTrends surveyed more than 500 marketers. These respondents reported working with a number of different external service providers to execute cross-media marketing campaigns. Almost 42% of respondents work directly with a commercial printer. Over a third of respondents reported working with an advertising agency, a direct mailer, or a graphic design firm. Since marketers work with commercial printers and agencies the most, it would make sense that these service providers are well-positioned to offer new cross-media services to their existing clientele.
The key question is this: what selection criteria are essential to the marketer? How does that service provider move to the top of the list so they can participate in the more lucrative marketing value chain and the incremental digital print revenue associated with cross-media services?
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