PMA is proud to announce

America's Printing Association Network.

APAN associations across the nation have rolled out a new brand to assure the industry of their sustained presence, dedication, and ongoing mission to work together in supporting the Graphic Communications Industry.

APAN comprises Print & Graphic Associations in the US and Canada working together to bring industry awareness and support to the print graphics manufacturers and suppliers to the industry.

APAN is also in partnership with with three additional Associations in Canada, serving over 5000 members and representing all aspects of print manufacturing.

APAN – a powerful collaboration dedicated to supporting the Printing industry through such influential programs as:

National Wage and Benefit Survey
PrintAccess - online buyers listing/guide for members
Printing Industry Performance Reports and Insights (PIPI)
Sales Compensation Survey
Focus and Peer Groups
Insurance, Supplies, Equipment Discount Buying Power Programs
Americas Print Awards - Excellence In Print National Awards
Local, State, and National Government Representation
Workforce Development, Continuing Education programs … and More!

APAN is comprised of Print Media Association (PMA), Graphic Arts Association (GAA), Graphic Media Alliance (GMA), Great Lakes Graphics Association (GLGA), Printing & Graphics Association MidAtlantic (PGAMA), Printing & Imaging Association of Georgia (PIAG), Printing & Imaging Association of MidAmerica (PIAMidAmerica), Printing Industries of New England (PINE), Printing Industries Association of San Diego (PIASD), Printing Industries Alliance (PIAlliance), Printing Industries of Southern California (PIASC), Printing Industry Association of the South, Inc. (PIAS), Printing Industry Midwest (PIM), Printing Industry of the Carolinas (PICA), and Visual Media Alliance (VMA).

*** Event Sponsors ***

** NEW MEMBER BENEFIT **

Training Options

Focus on Print Industry Fundamentals

New training focused on the fundamentals of print and graphic communications is now available as a no-cost benefit to PMA Members and educational institutions within the Americas Printing Association Network (APAN).

Through a new partnership, APAN has licensed more than 60 on-demand courses and educational tracks developed by print industry veterans and business consultants at

The Print University.

There are currently eight modules available:

* Intro to Production Printing

* Inside the Print Shop

* Operations of a Print Service Provider (PSP)

* Selling Strategies

* Vertical Markets for Print

* Print Workflow & Processes

* Introduction to Finishing

* Market Update

The program also offers suggested tracks by employee position and type of company.

The new training through PMA Print University is ideal for onboarding new hires and refreshing current employees, and the targeted tracks help make sure each audience is receiving specific content tailored to their work experience.

It can also be beneficial for vendors to help them better understand their customers.

And for high schools and technical colleges to introduce students to the print industry.

The cost to utilize Print University is covered by membership dues.

Available via new, updated PMA website coming soon!

To access the online courses, please contact your local association at:

314-962-6780 ext. 211 or tim@pmastl.org.

Financial Benchmarks, Ratios, and Actionable Thoughts

from the March 2023 PIPI Survey Report

This report provides benchmarks and ratios to help assess

your firm’s performance and plan a path forward.

The report includes income statements and cost categories as a percentage of revenue, balance sheets and related ratios, and cash management indicators.

We had enough responses to generate numbers for high performers and a few

industry segments. In addition to the financial numbers, we provide actionable thoughts

for you and your management team.

GET THE REPORT HERE

PRC Approves USPS-Proposed Price Increase

The Postal Regulatory Commission (PRC) approved all of the Postal Service proposed promotions, but corrected errors in the filing. Most consequential for commercial mailers and their customers, the PRC revised the effective dates for the calendar year 2024 promotions to next January 1, not July 9, 2023 when the other price increases took effect.

Your Guide to Bringing Aboard

Seasonal Workers this Summer

Source: Fisher Phillips

With summer upon us, you may be looking at creative staffing options, including hiring

teen workers, creating internship programs, and offering volunteer opportunities. If these are viable options for your organization, you should be aware of a variety of compliance requirements. Here is a guide to bringing aboard minors, interns, and volunteers

this summer.

Invite Customers

to Experience Your Experience!

“Our customers don’t understand what it takes to get their projects manufactured and out the door – they have no idea!” We must be better at introducing customers to our end-to-end processes. READ MORE

Is Customer Service in Service?

Don’t allow printing to be all about the price – a quality customer experience is priceless; let’s see if your competitors can match that! READ MORE

Now You Have a Budget?

Question: What is the target budget for this project?

Answer: I don’t know, give us your best possible price!

Please indulge me for just a moment. Undoubtedly most customers ‘believe’ if they share their budget with us that our estimate will inch toward the highest dollar allowed. True enough... READ MORE

By Debbie Nicholson, Think-to-INK! And on American Printer.com.

https://www.linkedin.com/in/debbie-nicholson-24a53627/

The Printer & The Suit

with Al Kennickell

Warren Werbitt and Kevin Abergel talk with Al Kennickell, owner of the fourth-generation printing powerhouse based out of Savannah. They talk about the art of identifying and buying new equipment, how Al makes strategic choices for his business, the qualities that make a good OEM sales rep, and the traits that can be a deal-breaker.

Consumers Environmental Packaging Preferences

Source: Two Sides North America

A recent survey asked respondents to rank their preferred

packaging material based on 15 environmental, aesthetic, and practical attributes. Overall, paper/cardboard packaging was preferred for 10 of the 15 attributes, including all environmental attributes, with half of respondents saying it is better for the environment than other types of packaging. Consumers also preferred paper/cardboard packaging for being home-compostable and easier to recycle.

UPS Workers

May Go On Strike!

Source: USA Today

UPS employees may go on strike if a new contract deal between the Teamsters union and management cannot be reached by the end of the month. UPS workers last went on strike in 1997 and USPS and FedEx struggled to keep up.

Over 25-years later, a strike could have a much greater impact on the supply chain as the economy relies more on e-commerce today. If a strike does occur, it would be the largest single-employer strike in U.S. history.

EEOC Reporting!

Employers need to understand that the timeline for submitting their demographic data to the U.S. Equal Employment Opportunity Commission (EEOC) is somewhat different this year.

The agency recently confirmed that EEO-1 reporting for 2022 data is scheduled to begin in mid-July. In recent years, the starting points and deadlines for data collection have varied.

All private employers with 100 or more employees and federal contractors with 50 or more employees must file EEO-1 reports each year that summarize employee headcount by sex, race/ethnicity, and job category. This component of data collection, called Component 1, does not include pay data.

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:

July 17: Marketing Matters with Kelly Mallozzi Find Out More

July 18: Sales Fear, Anxiety, and Imposter Syndrome Find Out More

July 24: Marketing Matters with Kelly Mallozzi Find Out More

July 25: LinkedIn: What to Post Find Out More

July 25: “New-to-Sales” Group Find Out More

View all upcoming workshops here.

See the list of 100+ video replays

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

PRICING AND BILLING

"Pricing" (aka estimating) is before the fact focused on getting the order at the highest price that the customer will pay. "Billing" is afterward where the focus is on remembering to charge for alterations and getting the invoice out promptly and correctly.

The primary focus of pricing/estimating is to charge as much as the customer will pay but also getting the order as leaving dollars on the table or zero sales will not pay for the overhead. While your internal cost (the estimate) is the starting point, the end result must center around your customer’s budget and their perception of your competitor’s likely prices.

Many printing projects are works in progress, where the customer isn’t completely sure of the final job. As a result, changes (alts) are a normal part of the process. They are also profit generators as the customer can’t shop them. Getting the dollars from alts simply involves timely communication from the printer - a prompt email acknowledging the alt requested and the cost for doing it is all that’s needed to get the money. That money is lost if the printer fails to bill the alts or if the cost of the alts comes as a surprise after the job

is delivered.

Volume 3 / Issue 14

Aggressive Pricing - A Race To The Bottom?

One of our reader’s voiced a concern that aggressive pricing (not to leave projects in the competitor’s hands) can setup a race to the bottom. It’s a valid concern regarding market pricing; but we already live in that kind of world where someone is always low-balling a

project to make payroll or equipment payments.

The authors’ argument is if we understand that contribution trumps all other type of “cost”

and pricing metrics, we can make tactical decisions to lower a price. This requires tools

which provide us with account profiles (type of work; contribution levels) as well as

understanding capacity. If we take on work which is risky (in terms of credit risk and

production difficulties) we should not be as willing to lower prices as we might with work

which flows easily through production and credit risk is minimal.

Pricing is dynamic and it shouldn’t be just “cost sheet” + X%. By understanding that sales dollars are not all the same (differing contribution levels), we can and should be price setters rather than price takers, but it’s intelligent price setting not just lowering the price so the shop will be busy, our customers and sales team happy, and our bottom-line

bleeding.

Take Action – Data Security

We live in a world of instant gratification which often means providing “outsiders” access to our database infrastructure. It might be the ability to do on-line banking; paying our vendors utilizing ACH; or providing our customers access to our web portals. All of this, and more, allows us to be competitive and productive. But there are also risks.

As we hear on a daily basis, hackers abound and are always trying to find ways into business systems, and “small” business is often a target because IT security is not top of mind. Thus, has your firm established protocols to keep your (and your customer’s data) secure? Have you recently conducted an IT audit by a third party? Have you updated your insurance to protect you from IT errors and hacking? Is it cheap? No, but if your firm does not have an IT security professional on staff, ignoring these risks can easily lead to business failure. There’s plenty of information available on the web, and your Association has a variety of resources.

What’s The Price?

Print providers have traditionally begun the pricing process with an estimate - a projection of the cost of doing the project at an incredible level of detail using BHRs to assign a portion of every cost of the firm (building, equipment, and front office) along with materials and buyouts. Since the sales rep faces the certainty of losing the commission if the customer doesn’t accept the quote, they are incentivized to find ways to reduce the estimated price.

The reality is that the price should be the maximum that the customer will pay which is determined by the value of the project to them and their perception of what another printer, known and trusted by them would charge. Thus, any higher number will result in zero sales and any lower number leaves dollars on the table - both bad outcomes.

Trying to reach pricing nirvana should first involve a simplified estimate (frequently using just an internal price list) as the purpose is to suggest where prices from competitors might be. However, the key step is to focus on the maximum amount which could be charged and still get the order.

Realizing this requires systematic thought about the relationship with the customer. Do they regard us as their virtual sole source? Are they a price buyer or somewhere in between? The measure of this is our hit ratio (percent of quotes that turn into orders) with each customer. This enables us to fine tune the simplified estimate using reasonable markups or discounts. If we open a new account with good potential, it would be reasonable to start at the discount level as we must start to do business and not give them just estimates that do not end in an order.

This approach will maximize profits as it will maximize the available contribution dollars from each order. Since the average print project involves an actual expenditure of around 60% of the invoice for wages, materials, buyouts, and commission, the average contribution of 40% will be 50% in some cases and 30% in others, but the result will be more dollars at the end of the month!

Will It Bite You?

You’re really excited about the new machine (or system or software) that you’ve just seen. You have a vision that it will save you a lot of money and that its capabilities will open new markets. If you sign on the dotted line, you can be certain that you’ll have to pay for it, but are you certain that it will produce the profits you’re looking for?

For many firms faced with this sort of decision, this could be a good time to look for an outside source. Sometimes they confirm the fact that it’s a winner but there are those times when the numbers show that it’s an expensive mistake (even a business-threatening one if the numbers are big enough).

You can roll the dice, or you can spend a few bucks to make sure your projections are on target. Need help to find the right person? Contact your Association and they can point you in the right direction.

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.

Click HERE for a PDF copy of this article

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.

You Have Coverage Options!

Our service team knows how to protect

your business, your employees, and their families.

Click here for a printable PDF copy of this flyer.

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.

MORE INFORMATION

VISIT WEBSITE

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.

Go to www.printaccess.com and log in. Log in is located at the bottom of the page.

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!

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.

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 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

or tim@pmastl.org.

SECURE Act 2.0:

Your Year-by-Year Reference Guide

This guide lists many of the important provisions in SECURE Act 2.0 that apply to 401(k) plans. While the Act has additional provisions that could affect the design or operation of 401(k) plans, the focus of this list is to provide plan sponsors with a handy chart of the

year-by-year provisions that will likely be most impactful on their plans.

If you have questions or would like to discuss how we can help your business, e-mail or schedule a time to talk below!

Joe Trybula, CFP®, CPFA®

Accredited Investment Fiduciary

joe@printers401k.com

Schedule a Call With Joe

PMA Partner Diversified Financial Advisors powers the Printers 401K®

Guaranteed Life Coverage

for Your Employees!

No Employer Obligation!

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

Tim Suraud at 314-962-6780 ext. 211 or tim@pmastl.org.

Watch a Brief Video

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.