Digital printing market is estimated to reach $187.7 billion by 2018 as it is currently showing a compound growth rate of more than 7%. In the year 2008, digital printing industry accounted for just 18.5% of the total offset market but it is now inching to get past 50% of the total offset printing market share. In such a scenario, investing in this industry early on can prove to be a rewarding move. However, the digital printing business idea that you implement must be engaging enough for the audience. The execution of the idea also holds a lot of importance. It is not that you cannot start similar businesses that are already existing, but you need to be unique and better in your approach.
Technology also has a great role to play in this venture and you must not shy away from implementing the most advanced tools that are available in the market. 2016 is bound to see a slew of players venturing into the digital printing arena and if you are also among those, who plan to start or revamp digital printing business, some really rewarding digital printing business ideas are about to come your way. Many of these ideas might exist in the market but they have not been explored well. We have tried to include some tips on better execution of the ideas as well. You need to grasp the ideas and plan their execution in the best possible manner.
Remarkable Printing Business Ideas To Choose From
A Wide Range Of Printing Options
The digital printing space is now crowded with a lot of players and the idea that will set you apart is giving your users a slew of options to choose from. Offer a range of printing options to your users and do not restrict the products that they can customize. Your users must be able to craft designs on the products of their choice. The idea should be to include those products in the tool that are most commonly chosen for the custom design. You can research for this online by conducting a survey or analyzing the search data of Google. It will help you execute your idea well and get fast and better outcome.
Use The Most Cost-Effective Printing Solution
The print that you provide to your customers should not only be great in terms of quality, it also needs to be cost-effective for you. In order to provide affordable printing solutions to the customers and yet keep the business profitable, you need to be innovative in your approach. A thorough research of the market as well as the best available solutions can bring you in a better position to choose the perfect printing solution that suits the dynamics of your business. The solution should be comprehensive enough to provide service to the existing customers and should also accommodate fluctuations in the number of the customers. At the same time, the solution should not be overly robust, something for which your business is not large enough. Striking a balance is the key.
Run An e-Commerce Portal Along With Printing Business
In this era of e-commerce, a printing business is not enough. If you own a digital printing business, it is a great business proposition to put the entire business online. Using an e-commerce portal, you can take the order of the design your users create and manage them efficiently. If you are able to provide all the features of an online store including several payment options, fast checkout, order tracking, etc., your business is bound to get more traffic than your rivals. You can further optimize all these features to extend a better and more efficient service to your customers.
Implement The Most Reliable And Advanced Technology
This is the age of technology as it has taken several strides over the last decades. When you wish to proffer an unmatched service to your customers, you need to take them along and become more customer-centric. One such move can be handing over the reigns of product designing in the hands of your end users. By implementing online product design tools available in the market, you can engage your users better. People are going to be excited to know the fact that they can design their own merchandise and get them delivered to their doorstep. However, make sure that you choose only the best and the most trusted online product design tool for your business.
Run Promotional Campaigns On Diverse Channels
However brilliant your idea and its execution is, the existing competition cannot be lambasted unless you have a robust marketing plan to promote your business. The businesses that rely on the word to mouth publicity experience a slow growth and that too when their service is exceptionally good with a large number of satisfied customers. You must choose diverse marketing channels such as search engine marketing, social media marketing, and organic SEO to make sure you are reaching out to your prospective customers in every way possible. If you have constrained budget, organic search engine marketing should be given emphasis.
Opt For Aggressive Pricing Of The Services
If you have just started operations, you have a fierce competition to battle. The best way to deal with this competition is to be aggressive with the pricing. If you are able to provide great services at prices slightly lower than your rivals, users will definitely want to try your service. This is the time to build the user base and once you have their loyalty by your side, you can gradually bring your services in the same price bracket as others in the market.
A Brief Wrap Up
The digital printing market is ready to accept new players who can tap its real potential and make it big in the industry. These ideas for the business will help you get a grasp of what is actually needed to bring the best from this industry. Do tell us which of the ideas impressed you and got you thinking about your next business move.
The post has been authored by Jennifer Adam, who works as a developer at inkyROBO, a leading company engaged in the development of online product design tool. In addition to developing highly usable software, Jennifer Adam has a keen interest in writing about different aspects of product designing tools and its implementations.