One of the key attractions of Sign and Digital UK is the wealth of wide-format print technology it brings together every year
The sign industry is a very competitive place, and with increasing numbers of commercial printers moving into the large-format print sector, it seems time to give your business a check-up. So how do you need to add new revenue streams to move things forward?
Sign and Digital UK offers you just that opportunity as it is a business event in the true sense—visitors can find real opportunities and new revenue streams, as well as the best advice to grow their businesses.
Visitors can find real opportunities and new revenue streams, as well as the best advice to grow their businesses”
Indeed, there will be more than 200 suppliers at the event, showcasing a wide range of products and services for this dynamic market sector. Wide-for-mat print and finishing will be strongly represented alongside software, inks, materials, fabrics and substrates, colour management, sublimation, soft signage, textile printing, and sign-making products and services.
So, it may seem obvious that I would argue the case for Sign and Digital UK being a core way to help increase your overall revenues through expansion or diversification. But it really has become the annual market place for our industry that gives access to both the latest state-of-the-art technology and deals that are not so easily accessible at any other time of year.
A good example of its influence on the market is demonstrated by the fact that Hewlett-Packard, Canon, Epson, Roland DG, Hybrid Services/Mimaki, Agfa Graphics, and Colourgen/Mutoh are all bringing their latest equipment, software, and service packages to the event. And with that comes a real opportunity to get to grips with their competing solutions and find the perfect fit for your business. The other key attraction of Sign and Digital UK is the huge array of learning opportunities.
Learning and education
There are five free education theatres and workshops available, featuring around 35 daily seminars, covering practical applications and real world tips, alongside new business ideas and revenue streams.
The Business Theatre will host daily sessions geared towards helping you grow your company, as well as advice for developing new revenue streams. Topics covered include interior wall décor, dos and don’ts of colour management, capitalising on a changing digital market, and looking after your wide-format eco-solvent machine.
There are also three ‘trails’ to help visitors navigate their way around the show: The Textile Trail, the Retail Route, and Materials World. But, before you start your search for new revenues and your business check-up, here are my top ten tips for adding new revenues streams:
1. Research
Research the market. What are the opportunities? What would fit well with your business? Digital textile printing, interior décor/wall art, dye sub, wide-format printing, and finishing, where are these markets heading? How much demand is there for these new revenue streams?
2. Advice
Ask the experts, speak to your suppliers, find time to ask for advice. Consult your sales staff and find out what enquiries are they getting. Most importantly ask your customers what they require. If you are a commercial printer, find out how easy it is to add wide-format printing and finishing to your existing business. You understand print, so that is a big advantage for a start.
3. Equipment
What equipment do you need to add a new revenue stream? Printing, software, materials and media, inks, and finishing equipment. Make a shopping list. Do not forget service and maintenance can be key. If you intend to make a purchase, go to where you will get the best choice and the best deals.
4. Competition
Check out the competitors. What are they up to? What are they offering? Who is growing their business and how are they doing it?
5. Customers
Your customers may be putting out work that you could do, to others. You will not know unless you ask. If you are going to add a new revenue stream, get customers lined up before you start. There is no point in investing unless you can see an order book growing.
6. Added value
What can you add that will work for you and your customers? Do you have existing equipment that can be used to add a new revenue stream? Ask your supplier about the range of applications.
7. Trial
So who is going to lead from the front with this new business endeavour, and who is going to operate the production equipment? Have you got the resources already in place? Do you need to buy an expert to grow this business for you?
8. Test
Make sure you match the client base needs. Are you able to achieve the quality of work? Challenge yourself to be better than your competitor. Avoid just selling on price.
9. Future proof
How are these new revenue streams performing to future proof your business? Do you have the right eggs in your basket?
10. Review
Make sure you have a regular business check-up and keep up to speed with industry developments and opportunities.
Spending time researching your core target markets and what technology you need to break into them is a key task before visiting Sign and Digital UK
Sign and Digital UK 2016 runs from April 19th to 21st in halls 17 and 18 at the NEC, Birmingham. Make sure you use the event to find your new revenue streams and get the best advice and products to grow your business. It is all there waiting for you.
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