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Breaking the $1Million Barrier – Find out if your print business is ready to cross in 2023.

SME print Companies often face significant obstacles when it comes to growing their sales and profits. Throughout my extensive experience working with hundreds of SME print businesses, I have identified a key factor contributing to their struggles: RESISTANCE TO CHANGE.

For years, Print Companies have been stuck in a cycle of performing the same activities, such as manual communication between customers and the production team, data entry in multiple systems, and managing Excel sheets. They have grown comfortable with these processes or fear the potential consequences of making changes.

According to a report by NewVoiceMedia, 51% of customers will never do business with a company again after just one negative experience. Inefficient Client communication and redundant data entry due to lack of a centralised portal, can lead to negative customer experiences and reduced repeat sales. Print companies must address these challenges to improve customer satisfaction and retention.

To illustrate the impact of resistance to change, let’s consider the experience of one of our clients. Despite struggling to grow sales beyond 1 million for the past four years, the client spends significant time managing communication across multiple platforms and systems. They acknowledge the need for a centralised Customer and Order Management system;

However, their biggest challenge lies in the resistance from their team. The client once attempted to change their accounting process, only to have their accountant threaten to quit. Since then, the client has been hesitant to introduce any further changes. While they recognise the necessity for change, the fear of making mistakes and the time-consuming decision-making process hold them back.

But should he hold back? The inability to automate order management ultimately hampers growth and can lead to business closure. Customers now expect proactive communication and service like that of companies like Amazon. Meeting these expectations is an uphill battle for businesses relying on manual processes.

Many Print companies believe they will upgrade their systems once they have enough orders. However, a study by SuperOffice revealed that 62% of customers expect a response within four hours of contacting a company. A centralised system can improve response times, leading to greater customer satisfaction.

Rather than forcing your team into new system successful companies create work environments and teams that can quickly adapt to change. Their decisions are driven by goals rather than fears, enabling them to act and work towards achieving objectives.

These companies consistently gather feedback from clients and internal teams to increase repeat sales. For instance, one of our clients used to manage quotes on Excel but decided to implement centralised quote management. This automation allowed them to generate reports, track conversion ratios, and identify reasons for winning or losing sales. Instead of randomly allocating their marketing budget, they were able to focus on specific products and target audiences. This strategic shift resulted in a 200% increase in sales. According to a Forbes Insights and Treasure Data study, 78% of organisations believe that data-driven marketing provides a competitive advantage.

It is high time for companies to analyse their decision-making processes.

  • Are decisions based on feelings or data?
  • Are they driven by fears or goals?
  • Are key individuals involved in defining growth strategies and understanding how change can benefit everyone as the company expands?
  • Additionally, SME print companies need to evaluate their data capabilities. Do they have sufficient data to analyse patterns and make informed decisions?
  • Furthermore, companies should consider seeking expertise or hiring consultants if necessary to overcome challenges. Staying aware of the strategies employed by successful companies is also crucial.
  • Identifying processes that can be automated and investing time in improving customer experience and repeat sales are essential steps for SME print companies.
  • Implementing a process to gather honest customer feedback will help understand their expectations regarding products and services.
  • It is equally important to identify and regularly analyse key performance indicators (KPIs) such as average revenue per client, quote-to-conversion ratio, and the revenue generated by essential customers. Proactive analysis of these KPIs will enable companies to take timely action.

If you need assistance increasing productivity and improving client communication through print order management consulting, please get in touch with us. We have been helping business transform their order management and sales processes since 2008.

The post Breaking the $1Million Barrier – Find out if your print business is ready to cross in 2023. appeared first on OnPrintShop.



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Breaking the $1Million Barrier – Find out if your print business is ready to cross in 2023.

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