Latest Industry Reports!
You may have seen in our monthly Member Update newsletter, Print Media Association and Americas Printing Association Network (APAN) across the nation are partnering quarterly to sponsor the Printing Industry Performance and Insights (PIPI) Studies.
This research seeks to analyze our industry’s performance, deliver a view of future outlook, and provide company leaders actionable advice. These studies are conducted under the direction of Dr. Ralph Williams Jr., Associate Professor, Jones College of Business at Middle Tennessee State University.
In this study, we explore these three (3) topics:
How Paper is Affecting Printing Companies, and Suggests Approaches to Consider
Given the vital importance of paper to our industry, in this 2022 PIPI (Printing Industry Performance and Insights) study, we explored the following topics: paper’s effect on meeting customer needs; is the paper situation getting better; how much firms have increased paper inventory; is increased inventory helping; and the impact of growing paper inventory on cash. We present our findings for each of those topics with actionable suggestions. Our last section includes ways to respond to paper supply issues, which we drew from previous supply-chain research and tested in this study.
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A “Comprehensive Strategic Approach” to Printing Firm Performance: Here are Execution Tips
A few years back, we researched effective management practices in the printing industry. We looked at past research on how strategic planning affects firm performance. We found that when printing firm leaders strategically plan, set goals, and analyze financial ratios (those three together), they likely experience enhanced firm performance. We labeled this a Comprehensive Strategic Approach (CSA). We re-examined our original CSA findings in this 2022 PIPI (Printing Industry Performance and Insights) survey. And yes, we again found a positive relationship between applying a CSA (strategic planning, goal setting, and financial ratio analysis) and firm performance. Therefore, to help you effectively apply the three CSA elements, we provide a plethora of execution tips arranged in a simple bullet-point format. Our survey also examined “budgeting” as a possible fourth CSA element. Surprisingly, we did not find a clear positive relationship between budgeting and firm performance. We also discuss those findings and provide budgeting execution tips.
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A Big Picture of The Printing Industry: Revenue Trends,
Covid Recovery, Inflation Effects, Business Outlook,
Employees per $1m in Sales and Actionable Thoughts
We present a big-picture view of the printing industry drawn from our October 2022 PIPI (Printing Industry Performance and Insights) survey. Our big picture includes revenue trends, covid recovery, inflation effects, business outlook, and employees per $1m in sales. We provide actionable suggestions throughout the report.
Revenue Trends and Business Outlook Summary
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February 2023, PIPI Study – Building Financial Benchmarks
Industry financial benchmarks help in budgeting, making strategic decisions, and finding a path to high performance. Therefore, financial benchmarks are a very helpful management tool. So, we are excited about the February PIPI survey, which will build financial benchmarks for printing firms.
But there’s more to the story! We will build those financial benchmarks for different segments in our industry, such as commercial digital printers, commercial sheetfed printers, label printers, web printers, and others. Our goal is to provide printing company leaders with comparable and relevant financial benchmarks.
We will release our survey on February 13th. To make our financial benchmarks credible and valid, we need a bunch of completed surveys. So, printing company leaders, after receiving a survey invitation, please open the survey and complete it. Help us develop knowledge that will help you!
Previously Completed Reports (click on title below)
Marketing Planning, Sales Team Management & Social Media Usage
Is Your Firm Growing Like Others in the Printing Industry?
Industry Outlook & Performance
Strategic Group Report
Printing Industry Outlook - Q4 2021
Workforce Shortages
Supply Chain Disruption
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PMA Annual
Wage & Benefits Report
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Each year PMA and Americas Print Association Network conduct
one of the most powerful surveys in the industry.
It’s our Annual Wage, Benefits and Human Resource Policies Survey.
This is a valuable resource to compare your compensation package to other companies
of your size, location, and type.
The Print Industries Wage & Benefits Report is the most reliable labor management report in the graphic communications industry, with nearly 500 companies participating,
employing more than 15,000 employees, making this survey the industry’s largest
and most comprehensive!
Reports Available:
General Report / Inplant Report / Packaging Report / Union Report
Survey Report Cost:
FREE for PMA Member participants
$250 for non-participating members
$750.00 non-members
For more information contact Tim Suraud at 314-962-6780 ext. 211 or tim@pmastl.org
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The Toxic Effects of
Branding Your Workplace a “Family”
If you’ve seen an open job posting or have been through a new job orientation over the last decade, you’ve probably seen the word “family” thrown around when describing a company’s culture.
“We’re a family.”
“Welcome to the [company name] family.”
“We’re a family that breathes and lives the mission of the company.”
It’s no surprise since we spend most of our waking hours (approximately one-third of our life) at work. Our relationships with our coworkers serve many functions - they can help us grow in our career and provide us emotional support and friendship. So it only makes sense that the relationships you build at work can mirror those you find within a family context.
But how these play out depend on the culture of your organization. As a leadership development trainer, this is one of the biggest organizational mistakes I see among managers and high-performing teams. While some aspects of a “family” culture, like respect, empathy, caring, a sense of belonging can add value, ultimately trying to sell your organization’s culture as family-like can be more harmful than psychologically satisfying.
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Komori America Sees Significant Growth
in Packaging Sector
Rolling Meadows, IL - Komori America - Komori’s firm focus on meeting the needs of packaging printers is validated by having more than 50% of press installations during the last fiscal year firmly rooted in the packaging sector, which is a 15% increase over the previous year. Statistics show the United States is one of the fastest-growing packaging markets in North America, valued at USD 184.65 billion in 2021, and it is expected to reach USD 218.12 billion by 2027, registering a CAGR of 2.94% between 2022 and 2027. Anticipating this market trend, Komori introduced the advance series presses in 2021 to respond to the need for enhanced productivity, speed to market and the flexibility required to succeed in the burgeoning packaging market.
Read More on WhatTheyThink.com.
Data Analysis:
Other Publishing Establishments 2010–2020 and What's Behind the Employee Shortages?
In 2020 there were 664 establishments in NAICS 51119 (Other Publishing), a decrease of 35 percent since 2010. In macro news, what’s behind the employee shortages? Some of these trends are temporary but some may not be - and it seems likely that 2023 will be a sort of “reckoning year” for much of the economy.
Read More on WhatTheyThink.com.
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For business leaders, starting a new year means reflecting and celebrating successes
of the past year, but it’s also a time to NOT take your foot off the accelerator.
This is a time for setting goals that can involve risk and ensuring your business
is prepared to take on challenges. Read More
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6 Ways to Build Trust With Website Visitors
and Social Media Followers
Check out this Customer Trust infographic. Learn how to build trust with potential clients, and tips on how to impress website visitors and social media followers.
Read Here
Source: Mary Walker-Ford www.socialmediatoday.com
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IRS 2023 Standard Mileage Rate
Sees Increase
The IRS has announced that the 2023 business standard mileage rate is increasing to 65.5 cents, up from the 2022 midyear adjustment of 62.5 cents. The change took effect Jan. 1.
IRS publishes second draft of 2023 Instructions
for Forms W-2, W-3
The IRS released a second draft of the
2023 General Instructions for Forms W-2 and W-3 on December 28, 2022.
https://www.irs.gov/instructions/iw2w3
Copies except for Copy A of all versions of Form W-2 can be filled out on IRS.gov and printed to give to recipients, the IRS said. Information in one copy automatically transfers to other copies. A change to the instructions clarifies that fillable online versions are first available for 2023 forms filed in 2024.
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New Federal Protections
for Pregnant Employees and
Employees Who Are Nursing
On December 29, 2022, President Biden signed into law the 2023 Consolidated Appropriations Act which includes two measures that expand the rights of pregnant and nursing workers: the Pregnant Workers Fairness Act (PWFA) and the Providing Urgent
Maternal Protections for Nursing Mothers Act (PUMP Act).
Read More on DOL.gov
Read More on SHRM.org
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Paid Leave for Any Reason Coming to Illinois
The PLFAW Act will take effect on January 1, 2024, and, once enacted, will provide nearly all Illinois workers with a minimum of 40 hours of paid leave, or a pro rata number of hours, during a designated twelve-month period.
Read more on Ogletree Deakins
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OSHA Penalties Automatically Increase, Putting Pressure on Employers to Comply with
Workplace Safety Obligations
The U.S. Department of Labor has just published its yearly increases to the maximum civil penalties that may be assessed via citations against employers by the Occupational Safety and Health Administration (OSHA) as a result of workplace safety and health inspections.
Read More on OSHA.gov
Read More on FisherPhilipps.com.
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MODERN LITHO - ST. LOUIS EXPANDS WITH THE ADDITION OF ROLLA BASED SCOTTS PRINTING
Modern Litho - St. Louis, a full-service commercial printer and mailer, announces it has acquired Scotts Printing of Rolla effective December 31, 2022.
Serving similar clientele, Scotts Printing operation pairs well with the business model of Modern Litho’s St. Louis facility, located on The Hill at 5111 Southwest Ave.
“Scotts Printing has had a successful presence in the regional print industry for many years with well-established customer relationships and high standards of service. We are grateful to have them on board and look forward to a bright future,” commented Skip Bray, Modern Litho - St. Louis President.
Established in 1986 in Rolla’s historic downtown district, Scotts Printing capabilities have included offset and digital printing with complete bindery and finishing. Davis Wilson, owner of Scotts Printing, noted “I am confident this affiliation with Modern Litho will not only benefit our customers, but also present new opportunities to serve them.”
Scotts Printing will cease operations at its current facility 1111 E. State Route 72 Rolla, MO.
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Online Graphic Communication Curriculum Courses for Employees
In collaboration with Americas Printing Association Network (APAN) and Chadwick Consulting, PMA wants to alert members about adult learning continuing education opportunities. Below are details from three universities that offer online courses in graphic communications available to non-degree seeking students (i.e. company employees).
Additional details on courses, as well as universities with in-person options, are available via link below.
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Sales Resolution Plan for 2023
Recording from Recent Webinar
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ONLINE: Thursday, February 9th @ 10:30am Central Time.
Ever left a conversation thinking, “Wow. He made me feel like I was the only person in the world”? Or perhaps, you had the opposite experience and the person you were talking to was checked out?
Every client you have should feel like they are #1.
Making that happen is not an accident. It’s a plan, a strategy, and an approach to sales. Come learn how.
This Short Attention Span Webinar will show you how to make every account feel they are your most important customer.
Presented by Bill Farquharson of SALESVAULT.
If you would like to register for this session,
e-mail tim@pmastl.org or contact Tim Suraud at 314-962-6780 ext. 211.
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What is a Short Attention Span Webinar (SAS)?
They are quick, powerful programs (15-20 min) followed by as much Q+A time as you need. You can stay just for the presentations or take a deeper dive and ask some questions.
SAS Webinars will be held on the second Thursday of every month.
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Bill Farquharson is a coach and sales trainer for the graphic arts. He draws on his 40-year sales career to write, speak, and create content. Bill’s Sales Vault features weekly sales workshops, sales challenge discussions, template and script downloads, and archived content for one monthly price (Affiliate members receive a discount). Contact Bill through BillFarquharson.com.
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Kelly Mallozzi is the president of Success In Print. She is active in Girls Who Print, an expert in LinkedIn for sales reps, and a frequent presenter for the Affiliates. Kelly’s Total Sales Transformation is an intensive program to give your sales efforts a shot of adrenaline. Find Kelly through SuccessInPrint.net.
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Webinars are held on the second Thursday of every month with topics ranging from
Sales Productivity, Prospecting, Customer Communication, Selling Skills, Social Media Sales, Motivation/Organization, Post COVID Sales Challenges, Sales Growth, Sales Management, and more. As a webinar attendee, you will be invited by Bill to a future Sales Vault workshop as his guest.
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Upcoming Sessions:
This is where the best graphic arts sales reps and selling owners go for their sales ideas. They learn from an expert, from their peers, and on demand.
The Sales Vault is a sales program bought to you by PMA & Bill Frquharson. One Vault feature is a live weekly workshop. Care to try one out for free? E-mail Bill and he'll give you access to one workshop or one video replay.
Here are the next Live Zoom Workshops:
View all upcoming workshops here.
See the list of 100+ video replays
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The Sales Vault
Discount for PMA members
Visit:
salesvault.pro/partners
Think of the Sales Vault as an ongoing conference full of live presentationsand group discussions focused on sales-specific topics.
As a Sales Vault Insider you have exclusive access to a packed calendar of live workshops and presentations, currently covering nearly 30 sales topics with new material added monthly.
Prefer to learn on your own time? Most subjects are available on-demand for
24/7 consumption. Then, there’s the weekly sales challenge discussion groups, the growing list of template downloads, and 35+ years of Bill Farquharson’s columns, sales videos
and blog, all organized by sales topic.
PMA members can take advantage of the Sales Vault for the discounted monthly subscription price of just $40/month/participant.
If you would like to try out the Sales Vault before signing up, let us know
and we'll provide you access to a workshop of your choice at no cost.
To learn more, contact:
Tim Suraud at 314-962-6780 ext. 211 or e-mail tim@pmastl.org
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ARE THEY SURE?
In our digital world, we’ve become accustomed to customers sending us files that we just print. This can be facilitated by our website which automatically accepts them and feeds them into
our workflow. This development is a great step forward in production efficiency, but it is also a potential problem.
Realistically, this streamlined process is blind to the possibility that the customer has made a mistake in the file thus opening
the door to an obvious error being printed and mailed - not a source of customer happiness!
Messy outcomes like this can be minimized by making sure that a person in your shop looks carefully at the file before it goes to print searching for typos or things that don’t make sense and calling them to the customer’s attention.
HIRING A SALES REP…
Without sales growth, profit growth is impossible. Growing sales almost always means adding sales reps. Every firm who endeavors to do this quickly discovers that hiring a successful sales rep is the hardest of tasks. The opportunities to waste large sums of money are immense and the failure rate is very high.
- Firms that have made the best of this tough challenge generally hire sales beginners and focus on personality traits rather than printing knowledge.
- They look for people who really want to make a lot of money, bearing in mind that while almost everyone wants to be rich only a few want to go to the trouble of getting there.
- They look for people who have a high level of curiosity and who are better at listening than talking, who can feel the prospect’s pain points and think about addressing them.
- For the same reason, it may be useful to look for trainee sales reps who have actual experience in the printer’s target customer type.
- They look for people who have had some experience with outside selling even not in printing as they have lived in that environment and accepted its challenges.
Once they hire the sales trainee, they must deal with compensation. Even though some firms have salaried sales reps, it’s likely that given the special challenges of outside sales, a clear, incentive-based system is best. Even if it’s salary only, the rep gets a raise based on performance, so the salary is really a delayed and uncertain version of a commission.
If the rep is paid on a commission basis (gross sales, value added or some other variant), they must also receive a draw, since initially their sales may be zero. The draw should not be high enough for them to be comfortable, for the object is for them to move to commission earnings high enough to cover the draw (and more!) or leave if they can’t get there.
Of course, the trainee sales rep needs help and should get it, but at the end of the day, the ball is in their court - that’s why finding a successful candidate is tough, but it can be done.
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Volume 3 / Issue 1
Don’t Accept Failure
We have called on a prospect and they provided us the specs for a job. We go away happy, and we deliver the quote. We don’t get the order and we’re sad, but we’re used to it. What’s wrong with this story? The problem is that we’re used to it and just went on to the next prospect. As a result, we’re feeding a cycle of spending sales and estimating resources but not building sales while making the competition look good at the same time. The solution is to see the object of the quote as getting the order, not as an exercise of delivering a number from our estimating software. We need to understand that we’ll get the order for a price that is acceptable to the prospect, not a number that works for our estimator. Our focus must be on the value of the project to the prospect and on their view of alternative choices, not on our “costs.” Of course, it may be that we can’t live with the prospect’s numbers - if that’s the case, it’s a signal to stop calling on them. But if they have work that fits us and could build our volume, we must get into their ballpark.
What’s Really Important in 2023?
Ask any company owner what are the two most important items crucial to the business,
and it’s inevitable that sales and/or profits makes the list. Yet, let’s not forget who makes that happen - people. When we look at successful companies in our industry, leadership recognizes that having the right individuals in the correct positions makes a company successful. Yes, there are other items which are necessary: working capital; equipment; strategic planning; marketing, etc., etc., but without the right personnel, we run the risk of just having a mediocre company.
As we start the new year, it is a great time to review your most important asset – your people. Do you have the right person in the right position? Do they have the proper training and support/mentoring? Do they have the ability to learn and grow in their position. Have we provided them a road map for their success? It’s too easy to accept mediocrity because the labor market is tight. The long-term result is a poor performing company – and no one wants that!
The Great Sales Manager
As companies grow, it becomes apparent that the CEO/owner may not have the bandwidth
to manage the sales force or doesn’t have the skills. At that point, the search for a sales manager begins. As the article “What’s Really Important in 2023” noted, having the right person in the right job is crucial; thus, the first question to ask is “why do I want someone to manage our sales force.” Does your sales team need additional training? Do they need
someone to run interference between production, customer service, and accounting? Does the team need to have someone who will direct their efforts and help implement a marketing plan? Although these may be some of the topics which need to be addressed, finding one person to do all of them could be impossible, impractical, and un-affordable.
Thus, an option which should be considered is reallocating duties, and/or expanding individual’s roles. It could be as simple as creating a pricing manager position allowing sales/estimating to interface with someone responsible solely focused on pricing and client. Or another possibility is allocating training resources to upgrade skills; thus, using personnel who understand the company culture and avoid the potential pitfalls of bringing someone from the “outside” and creating turmoil which can be damaging to a company’s sales. Yet, there may be need for a change, and this is when management really must define the role of the sales manager and search for the individual who has the skills, personality, and adaptability to survive in a culture which could be very different from their prior experience. Whichever approach management uses - to restructure or to bring in a sales manager - its crucial to define the desired results and make sure the roles of everyone involved is clearly defined.
What If?
2023 is the year…
• That you buy the new press (binding line, prepress system, etc.)?
• You expand the plant?
• Your pricing policy gets re-designed?
• You revise your sales compensation?
• You sell the business or buy another one?
While you’re confident that these decisions will take your business to the next level. What
if you’re wrong - what if they result in a potentially fatal financial disaster? Why not get a second opinion before you take the leap from individuals who are knowledgeable of the industry and bring insights from dozens of projects and “real-life” experience. quoins2pixels authors can help, just drop us a note at: bob.lindgren815@gmail.com or call 818-219-3855.
quoins2pixels is written by Bob Lindgren and Joe Polanco.
Bob and Joe have spent decades in the printing industry, and throughout their careers,
they have counseled hundreds of company owners on a variety of management topics.
As a value-added service of Print Media Association, they are available to expand
on these articles or aid with projects.
Bob can be reached at (818) 219-3855 and Joe at jspolanco49@gmail.com.
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quoins2pixels is written by Bob Lindgren and Joe Polanco.
Bob and Joe have spent decades in the printing industry, and throughout their careers,
they have counseled hundreds of company owners on a variety of management topics.
As a value-added service of Print Media Association, they are available to expand
on these articles or aid with projects.
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Insurance Options, Coverage, and Support!
We are ready to protect your business,
your employees, and their families.
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Need Help with Credit & Collections?
We Know The Printing Industry!
Printing Industry Credit Bureau (PICB) and its’ sister company, CheckitCo
have over 40-years experience as a dependable, effective, cost-efficient, and reputable agency dedicated to taking the hassle and stress out of credit & collection.
Who better to handle your credit and collection needs than an agency
designed for Printers.
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PrintAccess, the printing industry’s “Who does what” search engine
has been completely rebuilt and is open to help market your business.
As a PMA member, you have a complimentary listing that can have the content you want displayed to your potential customers focusing on your specific products and services. Google-friendly pages are designed to increase traffic and coordinate with your own website and social media activity.
Begin updating your listing today!
Follow the steps below and contact us if you need help with your login or with updating your profile! Call us at 314-962-6780 ext. 211 or tim@pmastl.org.
Simply click "printer" and sign in. Username is your e-mail. If you forgot your password you can reset it or you can call PMA (314-962-6780 ext. 211) and we can reset it for you!
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Start updating and editing your profile. Update your company info, social media, add images of your amazing body of work, add any new equipment or capabilities you may have
acquired recently.
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Weather you just want to make a quick edit or completely overhaul your listing we've made it simple and user-friendly! After you have completed your updates you can either go to the blue box labeled "Next Step" located on the top right of page or you can click "Finish & Save" at any point during the update. You do not have to go in order of the steps, hit "Finish & Save" and your updates will save and be reflected on your listing. | |
NEW PMA MEMBER BENEFIT
Kodak Buying Power Rebate Program
Print Media Association (PMA) is excited to announce its newest member benefit -
an exclusive new Kodak Rebate Program. Members can now save money while strengthening offset solutions or building out a digital offering.
Rebates include the following Kodak materials, equipment, and services:
- Kodak Offset Platesetter Solutions
- KODAK TRENDSETTER, KODAK ACHIEVE, and KODAK
- MAGNUS (4-up, 8-up, VLF)
- KODAK PRINERGY On Demand Software Solutions
- KODAK NEXFINITY Digital Presses
- KODAK PROSPER Inkjet Presses
- Consumables: Proprietary water-based inks
- Kodak Services and Support
If you would like more information contact Tim Suraud at 314-962-6780 ext. 211
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Effective Jan. 1, 2023 you may be able to invest more thanks to higher benefit limits for 401(k) and other qualified plans.
Highlights include the 401(k) and 403(b) maximum annual elective deferral limit has increased to $22,500 and the catch-up contribution limit for individuals aged 50 or over has increased to $7,500.
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If you have questions or would like to discuss how we can help your business, e-mail or schedule a time to talk below!
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Diversified Financial Advisors
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Member Benefit
for Your Employees!
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Print Media Association has partnered with Cincinnati Life Insurance Company
to offer a solution that helps you retain employees, while also putting their well-being
as a top priority.
The Total Life Benefits program allows you to protect and offer your employees
peace-of-mind with guaranteed life insurance. Browse plan options and only choose what fits your priorities and your budget.
NO medical questions asked, NO employee minimums
and NO financial obligationas the Employer.
Employees can purchase life insurance for themselves, their spouse, their dependents,
and their grandchildren at a cost and amount of coverage they choose through a simple
and flexible payroll deduction program. Employees have a choice of term life, whole life,
or return on investment and they can take care of all the back-end HR paperwork
so you don't have to.
Employees own their policies! If they retire or otherwise leave the company, they can keep the policy and we will work with them to shift the billing to the employee.
Affordable and portable life insurance coverage for you and your employees.
If you would like more information contact
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Print Media Association is your local trade association representing the
graphic communications industry in Missouri and Southwestern portions of Illinois.
Print Media Association offers its members the products and services that enhance their growth, efficiency, and profitability through advocacy, education, research, technical information, management tools, employee benefits, and cost-saving resources.
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