Evidently over the last couple of months, the economy has started to slow again slightly. The number of new jobs created is slipping, the GDP is not growing as fast as expected and the stock market has been on somewhat of a slide as of late. Of course there are a number of factors involved, but overall, I think I have figured out the main reason!
When we first dipped into the recession 3 years ago, it was pretty common for businesses to cut back on their marketing budgets. Not really a smart thing to do, but it is the typical reaction. After 2 years of pretty slow business for everyone, I had really believed that this last year would start to pick up again for the printing industry and everyone else as well. Think about it… if you cut back on all of your marketing and do practically nothing for almost two years, there comes a point where you have to get started again. You have run out of almost all marketing pieces – either that or they are so far out of date and not current that you are forced to update them no matter what. You have looked into new business markets too, meaning you need to start promoting this as well. In other words, it is time to start marketing again!
Here is where the problem comes. Along with the slowdown in the economy also came a host of new media options. Digital, video, social media, mobile, etc. All good things that we needed to try out – and hence business started investing in some of these, especially since we all know that social media marketing is practically “free” – right? Wow – now we can start our new marketing efforts without having to drastically increase our budgets. All that printing that we use to do? No need to spend the money on that any more!
Are you with me yet? Do you see the problem? Of course! The problem with all of this is that all the new media are not as effective as print was! Don’t get me wrong, it is good to try something new and have a blend of “integrated media.” But not without print included. Print is effective – print sells – print drives new business.
Simply stated, if all businesses started spending money on print again, not only would many printers start seeing an increase in business, but so would all the other businesses too! Print works, so now the economy starts growing again – new jobs are added, tax income rises and local governments start to gain their footing back, the construction industry starts digging holes again – which means even more people are employed – housing comes back – and then printers begin to buy presses again, which means even more strength to the economy and the whole cycle starts again! And all because of print!
Wow – what a wonderful world it would be again…