Large-format print companies could enjoy greater success through collaboration and an open approach to research and development argues Nathan Atkins, managing director of Papergraphics.
“Coming together is a beginning; keeping together is progress, working together is success”. The American industrialist who said this went on to successfully launch the Ford Motor Company and sponsored the development of the assembly line technique of mass production. Henry Ford knew that successful collaboration was key to the future of his industry and there is no doubt this approach is resulting in great success for the print sector.
We know that the print industry is a volatile marketplace with fierce competition. The British Printing Industries Federation (BPIF) reveals the UK is the fifth largest producer of printed products with a turnover of £14.3 billion. With over 10,500 companies and 140,000 employees in the UK, there is no surprise that it is as competitive as it is. Unfortunately, this competition has seen many companies in the sector suffer under the strain and as a result, close. In response to this competition, and the need to innovate and succeed, the industry has seen a significant period of transformation with many print companies looking to deliver integrated marketing solutions that add value to their clients businesses in what is today, an irrefutably multi-media world.
The businesses that have succeeded in this marketplace are not only innovating but collaborating with media partners, and even competitors, to create new products and bespoke printable substrates that span a wide range of unusual applications. These partnerships are not only key to the future of the print industry but a great opportunity for print companies to build good margin revenue streams and enter into new markets.
While partnerships like these are key – we also need to move beyond the print world. Collaborating with new businesses and media partners in a wide range of industries helps us expand opportunities to drive business while diversifying revenue streams. For example, we look to work closely with artists to support their creative development as well as working on new printing substrates that could then be applied elsewhere in the industry.
We recently worked with renowned UK artists INSA, who used our digitally-printed fabric-backed wallcoverings to stage a one-night installation titled ‘Self Reflection is greater than Self Projection’. Through partnerships like these, we’ve been able to innovate and demonstrate new products and printable substrates to attract customers in new industries. It’s time all companies in the sector open themselves up to these opportunities and through collaboration, employ a bespoke, design-led approach to innovation.
Unfortunately, many businesses continue to rely on closed approaches to innovation, keeping everything in-house in order to protect intellectual property. While we can understand that businesses won’t want to share their great new ideas with their competitors, creating partnerships in the industry will encourage access to a larger diverse pool of ideas and experts that could spur product innovation, increase competitiveness and revenues.
The print industry may have been through a tough time but it remains to be an important part of the wider marketing mix. However, to continue and expand this role, and successfully innovate, media partners and large-format print companies must take an open approach to research and development to drive profits, increase revenue streams and encourage future innovation. The industry can no longer take an isolated approach, but needs to look to new, exciting partnerships to continue to drive the industry forward. We firmly believe that creative media should help creative minds to develop creative ideas – pushing the envelope and placing itself at the forefront of an innovative and evolving industry.