In late 2023, πππ²π©π¨π’π§π ππ§πππ₯π₯π’π ππ§ππ completed a comprehensive multi-client study to gain a better understanding of how print demand is changing in key vertical industries. The vertical industries that were covered in depth included education, finance/banking, healthcare, hospitality, insurance, manufacturing, retail, and publishing.
Over 1,200 respondents from businesses with 200+ employees participated in this study. On average, survey respondents reported having over 2,000 employees each. At the same time, however, well over a third of the surveyed businesses had fewer than 500 employees.
Survey respondents were asked to estimate the split for digital, print, and other media in 2022, and digital media accounted for roughly 44% of marketing advertising spend. In terms of vertical industry, it is interesting to note that insurance (47%) and retail (45%) respondents allocated the highest share to digital media, while the finance/banking and education sectors (42% each) allocated the least.
People might think printing is on the decline, but it still makes up 37% of the media people come across every single day.
Between 2021 and 2022, respondents indicated that the share of spending allocated to digital media increased by an average of 4.1%.
There is no question that the digital transformation continues, but the previous Figure shows that a considerable share of marketing advertising spendβ37%βis still dedicated to traditional print media. In addition, nearly three-quarters of respondents (73%) agreed that they were increasing the use of print marketing because digital marketing alone does not always produce sufficient response rates.
Along these same lines, 73% of respondents reported that their spending for printed marketing collateral had increased between 2021 and 2022. Respondents in the insurance industry were the most likely to report a year-over-year increase, while those in hospitality were the least likely.
Those respondents who did see an increase in print spend between 2021 and 2022 reported an average increase of 11% year-over-year.
Finally, respondents who were able to answer questions about their companyβs printing services were optimistic about the importance of print. In fact, 90% of businesses considered printing marketing collateral to be very or somewhat important to their sales and marketing efforts. Meanwhile, only 2% of respondents considered print to be very or somewhat unimportant. It is safe to say, that print demand is changing.
If your printing or packaging company has over 100 employees and wish to save valuable workhours and become more effecient, DynamicsPrint can help you. We offer a free demo of our ERP solution where you can expect that we will cover the following five subjects:
– The benefits of having the ERP system in the cloud
– The benefits of the Microsoft Dynamics 365 FO platform
– How you can make precise quotations in DynamicsPrint
– How can you organize your production efficiently
– How to improve the ROI and profitability by using the data
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