One thing is certain about the recession, economic downturn, or whatever you want to call our current crisis: As print leaders, we need to take action NOW to ensure our companies, people, and clients continue to grow.
I remember the last recession. We could have lost our business. But instead, it was a time of profound growth and learning. Thankfully by taking some needed steps – we grew during that period – and so did many of the clients using our technology.
Recently, I dusted off my memories and made sure my team knew the steps we needed to implement today, so our clients were ready to weather any storm!
Since cost-cutting won’t be enough, there are a few things I know for sure that Volume Mailers and PSPs need to think about right now:
First, focusing on building closer “sticky” relationships with clients is vital.
Your clients will cut their marketing budgets in 2023 – many already have – you may not even know.
Protecting your direct mail jobs and revenue will be essential.
Proving direct mail is effective and will be an essential step in helping CMOs preserve their print budget.
Loyalty from clients, unfortunately, tends to go out the window.
The competition will be fierce, and your competitor will do everything possible to prove they have a better solution.
Data is king – and whoever owns the data – wins.
You likely agree with each of those, right?
But doing them well is the challenge.
I’ve pulled the best thinking we can find from our experience with the last recession and print companies that are growing right now despite the pressures, and I will share:
1: How the most straightforward ideas are often the most powerful — but they require being open to thinking differently and understanding how the direct mail you’re printing for clients works. So I’ll show you specific examples (it’s probably not what you think).
2: Why you need to offer these simple direct mail ideas (new services) <before> your Client asks for them.