Print Service Providers: do you know how to grow your business?
Printers have been leveraging data quality tools for decades. When postal authorities enacted regulations to reduce the amount of undeliverable-as-addressed (UAA) mail to drive down the costs of mail delivery, Print Service Providers (PSPs) were forced to respond by improving their internal processes. At the same time, the print industry itself wanted to reduce the operational costs associated with returned mail and duplicate pieces, a set of problems that was also mitigated with improved data processes.
So PSPs have the knowledge and experience to appreciate the need, and deliver a cost-effective solution for, automated data processing. The benefits to your business include the ability to:
- Eliminate labour-intensive manual processes
- Reallocate valuable resources to new projects
- Increase revenue-generating activities
As a PSP you are well aware that the success of any given project depends on the quality of the data you are given to work with. Some of your customers are better data stewards than others, but they all expect brilliant outcomes from their campaigns. To achieve those outcomes, it’s your job to make sure that the client gets what he needs — in other words it is up to you to expend the time and resources that your client either doesn’t have, or doesn’t know how to use, in order to process their data efficiently.
It’s likely that your clients haven’t even quantified the costs of their data problems, but in aggregate it’s a lot. According to the Harvard Business Review, poor quality data costs businesses in the US $3.1 trillion per year. Clearly there’s room for improvement, and it’s an area that you are already well-positioned to move into.
Customers who provide data understand that more needs to be done to manage it properly, but are often at a loss as to how to do that. In a recent survey, marketers were asked: “What are the most critical challenges to achieving data-driven marketing success?” The top answers were data management basics: data integration, data quality and enrichment, all challenges that PSPs understand well. Happily, as a result of the modern, complex marketing technology landscape, marketers are generally open to the idea of outsourcing and service partnerships, especially in areas where they lack the needed skills or technology.
In short, there has never been a better time for PSPs to expand their business relationships. By engaging with data, the output of one campaign will drive the next campaign. Ongoing data-driven services requires a long-term relationship and aligns with a retainer business model.
These are just a few examples of the positive effect data processing has on the quality of your customer’s campaigns. To explore this topic further, we invite you to download this free white paper: “The path to growth for PSPs: automated data processing”