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How Printing Fits into Your 2023 Planning

December 15, 2022 In Industry News,Marketing Tips

As the final month of 2022 comes to a close, we know business owners are thinking about how they can make improvements and plans to find more success in the year ahead. For many companies, that may mean considering new strategies or finding ways to squeeze more value out of each investment.

While it may not seem like the most obvious option, printing is one area that can have a significant impact on your bottom line when planned strategically. Keep reading below to learn how cost-effective and versatile print projects should fit into your plans in 2023 and beyond.

Strategic Budget Cuts

Given continued warnings of a recession looming in 2023, it’s no surprise that many businesses are planning to trim their budgets in the coming year. Traditionally, marketing is one of the first departments affected by budget cuts. To tighten up costs without sacrificing results, consider incorporating direct mail into your marketing plans. Modern direct mail campaigns are completely data-driven, which means your business can spend only to reach your ideal audience through targeted mail routes. It’s also a very cost-effective tactic. Direct mail has an average return on investment of 29%, according to the Data & Marketing Association.

Guard Against Inflation

Perhaps even more talked-about than a coming recession is the news of this year’s record inflation rate. Discussion of rising prices has been unavoidable, coming from media outlets and peers alike. Business owners have certainly felt the pain of increasing prices this year. Everything from raw materials to office supplies has been hiked in recent months, putting a strain on their bottom line. Unfortunately, there’s at least one more area you can expect to see price increases in early 2023. According to the USPS, a Forever stamp will increase to 63 cents on January 22, an 8-cent increase from one year ago. To get the most out of your direct mail investment, we recommend opting for a postcard-style mailer, which typically has a lower postage rate. You might also consider promoting a discount or offer that recipients will hang on to for weeks or months to extend the longevity of each piece.

Prepare for Shortages

Throughout 2022, business supply chains continued to experience disruptions in various industries. Given the strains on global shipping, it’s safe to assume that occasional product shortages will persist in the years ahead. Our industry has been experiencing a paper shortage for months due to sudden surges in demand and increasing pulp prices, among other factors. The shortage is likely to continue into 2023. To avoid having your project upended by a shortage, consider ordering any essential prints that your company will use year-round in bulk. You can reduce costs significantly when you purchase prints at higher quantities, and you’ll also have plenty of pieces in stock if your printer runs low on paper later in the year.

Add Flexibility & Versatility

On the other hand, if your business typically creates multiple individual prints each year, it may be worth reconsidering how you can decrease your print order by combining the pieces into one versatile project. For example, if you are planning to create or update several business brochures, can you consolidate your content and create one multi-purpose brochure instead?  Having fewer prints can actually make it easier and more convenient for readers to find all the information they’re looking for in one place. In addition, they may also learn about a new product or service they would not have known about if they only read the original individual print piece.