Quick Printing

DEC 2013

Quick Printing is the only business resource serving the quick and small commercial printing niche in North America. Quick Printing is the authoritative source for business information, emerging technologies, shop profiles and management insight.

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WEB MARKETING present an ill-designed, poorly thought out website with very little content, or worse, content loaded with print jargon, the visitor will likely have a negative impression, potentially being driven into the arms of your competitor. The bottom line: a bad website loses prospects every day. Losing prospects is equal to losing money every day. Don't Just Sit There, Do Something! A better question may be what should your website do? We are so fortunate in our industry that our sites can have a very high level of functionality, so much more than other industries. For example, file transfer capability, online proofing, online design, and reorder capability. Our studies have found a website with basic functionality, relevant to our industry, can increase revenue by 30 percent. That's a considerable increase over a website with basic to no functionality. A website with functionality components/technology should be expected to increase your overall revenue. I'd like to suggest that you take a look at your customer base to identify areas of opportunity where you can use technologies available today in the Web-to-print arena. I'm always amazed at the number of opportunities that exist in your current customer base that are untapped—simply waiting for you to share how you can help. Leads, Leads, Leads How many leads do you get from your current website? If you can't answer this question, please contact your website host and ask to see your analytics. Every good business owner should know how many opportunities are created through their website from both prospects and existing customers. It is a best MONEY TALK (continued from page 38) In many cases, the answer is, "No, not really." So in this scenario, the question becomes: What type of jobs can we do that do not require the use of outside services and this high level of factory expense? In other words, what kinds of jobs do we need sell to actually break even, and maybe even make money? The answer might surprise you. Take a look at your past monthly performance. In months when break even was achieved, how did your ratios stack up to the industry profit leader performance? What was different in those months? Were particular cost components still out of line? If not, what did you do to achieve good ratios? Can good ratios be achieved in future months? If not, it might be a good time to look at those costs carefully and find solutions. We call it "right sizing". Unraveling costs and analyzing components can become a monumental task, especially when budgets are already tight. If it becomes too time consuming, get help. ◗◗ Stuart Margolis, CPA and partner at MargolisBecker LLC, provides information that helps firms operate profitably. The company is the purveyor of the industry's "Cash is King" and "Value-Added Principles of Management", and compiles the annual Printing Industries of America Ratios, the industry's premier financial benchmarking tool. More information at MyPRINTResource.com/10164246. 40 QUICK PRINTING / December 2013 practice to look at website analytics no less than once a month. One of my favorite expressions "That which can be measured can be managed" can't be more applicable than here. If you have analytics, you can begin to set benchmarks. How many leads would you like to generate through your website? How many customers would you like to visit your site? How many orders do you receive through your site? If those numbers aren't where you'd like them to be, you can make adjustments with other aspects of your marketing to hit your goals. If you're not sure where you're starting, how do you know where you're heading? The Rewards are Worth the Work At the end of the day, an initial investment of money and time and a commitment to continual maintenance will take your website and business a long way. Your website is a tool that can be used to increase revenue. Websites should be used to solve business problems. They can be used to generate leads, make sales, get feedback, capture contact information, and learn where and how people are getting to your business. These are your customers. Take care of them by providing a positive experience from the moment they arrive on your site until they leave. Show your customers that you care about them. Please don't make the mistake that many small businesses do, and fail to take into account the impression your website makes on your customers' perception of brand and credibility. It's pretty simple: create and maintain a great website that connects with your audience, with a high level of functionality, measure the results, and you will see an increase in revenue. ◗◗ Tawnya Starr is president of FireSpring's PrinterPresence (MyPRINTResource.com/10007416). She has dedicated her career to educating the printing industry on proven website and marketing strategies. Contact her at Tawnya.Starr@Firespring.com. ASSOCIATION INSIGHTS (continued from page 35) solid foundation for future success. Among these, of course, is dealing with any conflict between family interests and business interests, and managing areas where family and business concerns and issues overlap. Some companies believe they are too small to need a formal business plan, but "Livelihood & Legacy" notes that the size of a business is not a factor in professionalizing it: "A husbandand-wife management team, sitting at the kitchen table, can develop and apply a strategic plan for their business." And they should. ◗◗ Mitch Evans is managing director of NAQP. Contact him at mevans@napl.org. "Livelihood & Legacy" includes criteria for business plans, ways to address family issues/business issues conflict, and the key elements of transitioning the business from one growth stage to another and from one generation to the next. To learn more, go to www.napl.org, select "Store" and enter "Livelihood" in the search box. Find more information on NAPL MyPRINTResource. com/10006811. w w w. M y P R I N T R e s o u r c e . c o m

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