Don’t write off print media just yet

Digital evangelists are spruiking everywhere that print is dead. With each new media development, “experts” have proclaimed the demise of another. Radio was going to kill off print. TV was not only going to render print impotent and replace radio and cinemas. Movies were to be the end of theatre. But history is a fantastic teacher. Despite all the predictions, the majority of mediums still exist and have continued to evolve. So why is it that this time round, an industry that stems back centuries appears resigned to its demise?

It’s fair to say that the past few years have been a torrid time for the printing industry. Recent results being posted by printers are consistently below forecast, volumes are down and the growth in digital alternatives continues to escalate. Are we witnessing the demise of print as a viable marketing and communication medium?

No. While I accept things aren’t great, I wouldn’t write off print media just yet.

There is no question that media consumption is changing rapidly. Digital channels are becoming more accessible, easier to use and more interactive. In many cases, they offer a viable alternative to print. Smartphones are everywhere, iPads and tablets continue to record sensational sales and online connectivity is everywhere.

So how does the printing industry respond? Try to convince people to ignore digital and stay with print? BUBOW! Wrong answer. Accept that digital channels are too good and there is no way print coexist? BUBOW! Wrong answer. Embrace digital and look for innovative ways to connect print and digital media? BOOYAH! This can work.

Now I am a digital junkie: I tweet often, blog regularly and rarely am I without my iPhone and iPad. But I prefer print above digital for specific types of communication. The key to anyone marketing to me is to know what I want via digital channels and what I prefer in print. The consumer determines the way in which they consume – all we can do is influence through engagement. The key is accurate targeting. Who is the audience? What are they seeking? What channels do they use? When should they receive the communication? What else are they receiving?

One channel in isolation is unlikely to yield the best result. Integration across channels with a consistent message has a greater likelihood of success.

A major advantage of digital over offline media, particularly print, is how easy it is measure how the consumer reacts. Everything you do online is being monitored and reported on. This is an area the printing industry needs to develop. If you want people to keep using print as a communication medium, you must be able to quantify the benefit.

Roadmap for ROI

To lift the impact and value of print, the following needs to occur:

Publishers need to curate content, using social media and digital channels to extend their reach and lift the value of printed publications.

Retailers and marketers need to build an intimate understanding of their customers and then apply marketing attribution to assess the true ROI of each channel, independently and combined.

Printers need to ensure their sales force are fully conversant with multi-channel marketing, understand which consumers prefer print and be able to explain the benefits of print media and the ROI it delivers in comparison to other forms of media.

Most of all, print communications need to evolve to create a significant and valuable point of differentiation. This will mean using digital to complement or leverage print media – not replace it.

In his 1964 book Managing for Results, marketing and management guru Peter Drucker said: “To make the future demands courage. It demands work. But it demands faith. To commit ourselves to the expedient is simply not practical. It will not suffice for the tests ahead. For no such idea is foolproof – nor should it be. The one idea regarding the future that must invariably fail is the apparently ‘sure thing’, the ‘riskless’ idea, the one ‘that cannot fail’.

“The idea on which tomorrow’s business is to be built must be uncertain; no one can really say as yet what it will look like if and when it becomes reality. It must be risky; it has a probability of success but also of failure. If it is not both uncertain and risky, it is simply not a practical idea for the future. For the future is both uncertain and risky.”

When looking at the print industry and the businesses that rely on it, I think Drucker’s words of almost 50 years ago are well worth noting. While we may not have absolute control over our destiny, we most certainly have the skills, experience and means to influence or change it.

There is no silver bullet to lift print to the top of the media mix. The road ahead will require a different approach to customers, a greater understanding of consumers, an appreciation for all media – not just print, and a preparedness to be innovative and try new things to remain relevant and strong in a new media landscape.

Graham Plant is director of Pearl Business Solutions. Until recently, he was executive general manager of PMP Digital

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