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Transcript of The new era_of_printing_and_publishing
The New Era of Printing & Publishing On Demand
Charlie Corr March 23, 2011
©2011 Mimeo.com, Inc. All Rights Reserved.2
Printing & Publishing
©2011 Mimeo.com, Inc. All Rights Reserved.3
©2011 Mimeo.com, Inc. All Rights Reserved.4
Printing & Publishing
©2011 Mimeo.com, Inc. All Rights Reserved.5
Printing & Publishing
©2011 Mimeo.com, Inc. All Rights Reserved.6
H a r v a r d U n i v e r s i t y
Office of University Publisher
©2011 Mimeo.com, Inc. All Rights Reserved.7
On Demand Printing & Publishing
Production Workflow Solutions Consulting Service
©2011 Mimeo.com, Inc. All Rights Reserved.8
©2011 Mimeo.com, Inc. All Rights Reserved.9
The Great Recession + The Next Wave of Technological Change = STRESS
©2011 Mimeo.com, Inc. All Rights Reserved.
$386$397
$408 $419$430 $441 $425
$391 $389 $389 $390 $392 $394
$0
$50
$100
$150
$200
$250
$300
$350
$400
$450
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
2009-2014 CAGR: FLAT
Source: U.S. Printing and Publishing Market Sizing: 2009-2014, InfoTrends, 2011
• Dramatic impact of 2008-2009 economic recession
• Diminished but positive growth in forecast years
U.S. Printing, Publishing and Related Industries:Historical and Projected Value of Shipments, 2002-2014
10
$ B
illio
ns
©2011 Mimeo.com, Inc. All Rights Reserved.
U.S. Printing and Publishing Market Forecast 2002-2014CAGR ‘09 to ‘14
$0
$20
$40
$60
$80
$100
$120
$140
$160
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Printing - Flat
Publishing - (6%)
Source: U.S. Printing and Publishing Market Sizing: 2009-2014, InfoTrends, 2011
$ B
illio
ns
11
©2011 Mimeo.com, Inc. All Rights Reserved.12
©2011 Mimeo.com, Inc. All Rights Reserved.13
©2011 Mimeo.com, Inc. All Rights Reserved.
896
755
680
700
720
740
760
780
800
820
840
860
880
900
920
Jan-08 Jan-11
(000
's)
14
U.S. Publishing Employment (Excluding Internet)
16% Loss
©2011 Mimeo.com, Inc. All Rights Reserved.15
Global Advertising Spending by Medium
39%
23%
12%10%
8% 7%
1%
41%
18% 18%
8%7% 7%
1%0%
10%
20%
30%
40%
50%2009
2013
Source: ZenithOptimedia
©2011 Mimeo.com, Inc. All Rights Reserved.
Number of U.S. Commercial Printing Establishments’09 to ’15 CAGR -10.5%
0
10,000
20,000
30,000
40,000
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
# of
Est
ablis
men
ts
Year
Source: US Dep’t of Commerce, BLS County Business Patterns
16
©2011 Mimeo.com, Inc. All Rights Reserved.17
» The economy is recovering
» Global literacy is on the rise
» There is increasing demand for content
» Even in declining markets, growth opportunities exist for those who gain share through innovation & acquisition
Good News!
©2011 Mimeo.com, Inc. All Rights Reserved.
Global Retail Value of Production Digital Printing
$0
$30,000
$60,000
$90,000
$120,000
$150,000
2010 2011 2012 2013
Mill
ions
$
Year
B&W - 3%
Color 12%
Source: InfoTrends
CAGR
Total 10%
18
©2011 Mimeo.com, Inc. All Rights Reserved.
US Digital Color Page Volume Growth (CAGR 2009 to 2014)
Source: InfoTrends
General Office
- Business Cards- CAD/Rendering- General Office- Presentations- Proposals- Reports
10%
Promotional
- Brochures- Catalogs- Direct Mail- Inserts- Coupons- Posters- Banners- Signage
31%
Publishing
- Books- Greeting Cards- Directories- Magazines- Manuals- Newspapers
31%
Transactions
- Bills- Statements- Checks- Tickets- Data-driven
Reports
20%Packaging
- Folding Cartons- Flexible
Packaging- Labels- Prototypes
20%
Utility
- Identity Cards- Forms
10%
Consumer
- Fine Art- Photo-related
23%
Application Family Application
19
©2011 Mimeo.com, Inc. All Rights Reserved.20
» Web2Print» Cloud» Localization/Customization
› ESPN local, Digital Newspapers
Ride Growth Waves
©2011 Mimeo.com, Inc. All Rights Reserved.21
©2011 Mimeo.com, Inc. All Rights Reserved.
Encumbered by Our History
» Printing› Woodblock printing in 200, Printing
press in 1454
» Printing is a process for producing text and images often carried out as a manufacturing process and an essential part of publishing
» Publishing› Dates to 1580
» Publishing is the business or profession of the commercial production and issuance of literature, information, music, etc.
22
Practices that worked!
©2011 Mimeo.com, Inc. All Rights Reserved.23
Economic Models and Digital Conversion
Economic Model SponsoredHybrid
Sponsored/ Subscriber
Subscriber PaidHybrid
Subscriber/ Advertiser
Advertiser Paid
Representative Products
Reports Journal Books Traditional Newspapers Free Newspapers
Manuals Reprints Magazine
Research
Economic Driver Cost Cost Revenue Revenue Revenue
Cost to Deliver Low Low High Very High High
Reliance on Physical Distribution Low Medium High Very High High
Conversion to View Only Fast Medium Slow Slow Medium
©2011 Mimeo.com, Inc. All Rights Reserved.24
» How do we monetize our efforts?» What do buyers value?» What is within our control?
Economic Models
iPad App price $17.29/month
iPad App price Free
©2011 Mimeo.com, Inc. All Rights Reserved.25
» Publishing to multiple platforms without new revenue, only reduces economic viability› The clear lesson of Electronic Bill Presentment› 1/3 of US Households lack broadband Internet Access› 17% of Mobile Device owners have a Smartphone
» Applying known models to new opportunities has a higher chance of success› Why does the Boston Globe on-line monetize only subscriptions?
Lessons Learned
©2011 Mimeo.com, Inc. All Rights Reserved.
» Annual productivity improvements of about 5%› A task that takes an hour today
would take 49 minutes in five years and 38 minutes in 10 years
Pursue “Super Efficiency” with a Vengeance
Business Processes
Suppliers Customers
Production Processes
26
©2011 Mimeo.com, Inc. All Rights Reserved.27
©2011 Mimeo.com, Inc. All Rights Reserved.28
» Customized Planners for Schools in UK
» Extended geographically to Germany
» Extended product line to include Yearbooks, Rewards and Praise Systems and Prospectuses
» Purchased by CLE, a digital PSP
©2011 Mimeo.com, Inc. All Rights Reserved.29
Mimeo
TECHNOLOGYMimeo.com
PAAS*
TECHNOLOGYMimeo.com
PAAS*
QUALITYAll content printed as intended
99.7% Flawless Delivery
QUALITYAll content printed as intended
99.7% Flawless Delivery
EASE OF USEEasy enough for
self serve Powerful enough
for Enterprise Inaugural & 2010
Web2Awards Winner
EASE OF USEEasy enough for
self serve Powerful enough
for Enterprise Inaugural & 2010
Web2Awards Winner
CUSTOMER DELIGHT
NPS Score in the 70’s
75% Retention
CUSTOMER DELIGHT
NPS Score in the 70’s
75% Retention
AUTOMATIONWeb Favors Centralized Production In by 10pm
Delivered as early as 8am
AUTOMATIONWeb Favors Centralized Production In by 10pm
Delivered as early as 8am
* PAAS – Printing as a Service
©2011 Mimeo.com, Inc. All Rights Reserved.30 ©2010 Mimeo.com, Inc. All Rights Reserved.
©2011 Mimeo.com, Inc. All Rights Reserved.31
» An Amazon-like Web site to distribute/publish print and related material tied to Mimeo.com document creation and fulfillment
MarketPlace Success
©2011 Mimeo.com, Inc. All Rights Reserved.32
» Jonathan Bartlett, The Founder and Product Manager of MarketPlace
MarketPlace
©2011 Mimeo.com, Inc. All Rights Reserved.33
» Publishing is Down
» Printing is Flat
» Fewer Players Managing More Customers
» The Pace is Quickening
= BIG CHALLENGES
What We’ve Discussed…
©2011 Mimeo.com, Inc. All Rights Reserved.34
Where Have the Magazines Gone?
©2011 Mimeo.com, Inc. All Rights Reserved.35
You, You, You.
©2011 Mimeo.com, Inc. All Rights Reserved.36
D.I.Y.
©2011 Mimeo.com, Inc. All Rights Reserved.37
The Right Tools
©2011 Mimeo.com, Inc. All Rights Reserved.38
Better…
Faster…
Stronger Cheaper…
Self-Publishing =
©2011 Mimeo.com, Inc. All Rights Reserved.39
©2011 Mimeo.com, Inc. All Rights Reserved.40
©2011 Mimeo.com, Inc. All Rights Reserved.41
The right tools for self-administration
©2011 Mimeo.com, Inc. All Rights Reserved.42
Simple. Fast. Easy.
©2011 Mimeo.com, Inc. All Rights Reserved.43
Accessible and Easily Understandable
©2011 Mimeo.com, Inc. All Rights Reserved.44
No Print Discussion with Order Placers
©2011 Mimeo.com, Inc. All Rights Reserved.45
Print = Revenue Generator
©2011 Mimeo.com, Inc. All Rights Reserved.46
Scribd.
©2011 Mimeo.com, Inc. All Rights Reserved.47
Cloud Platform Printing
©2011 Mimeo.com, Inc. All Rights Reserved.
Strategies for Achieving MegaGrowth
48
©2011 Mimeo.com, Inc. All Rights Reserved.
Strategies for Creating Sustainable Value
» Borrow Brilliance› Emulate top performers› Closely & quickly follow your
main competitor› Pay close attention to the market› Execute flawlessly
» Innovate› Typically a top down strategy› A willingness to fail› Perseverance› Understanding value
49
©2011 Mimeo.com, Inc. All Rights Reserved.50
» Put together the best team› Cost no more than 25% of average › Top performers exceed the performance of average workers by 300%, if not higher, it
can be 10 times › Focus on hiring and retaining top performers and quickly get rid of the rest› Invest in recruiting, mentoring and keeping talent
Winning Strategies to Create Value
©2011 Mimeo.com, Inc. All Rights Reserved.51
» Highest payroll» Highest valuation of any baseball team» 27 World Series championships (26%) and 40 American League Pennants
Winning Strategies to Create Value
Only one team has won a higher percentage of championships
©2011 Mimeo.com, Inc. All Rights Reserved.
“There's plenty of money out there. They print more every day.”
- George from Charlie and the Chocolate Factory
Good Ideas Will be Funded
52
©2011 Mimeo.com, Inc. All Rights Reserved.
» What is your unique value proposition?» What is your consolidation play?
› Eat or be eaten» What is your web/cloud strategy?» Geographic expansion?» How do you reduce costs?» How do you expand product & services?
› What waves do you ride?» What are your technology investments?
Charting Your Course
©2011 Mimeo.com, Inc. All Rights Reserved.54
©2011 Mimeo.com, Inc. All Rights Reserved.55
©2011 Mimeo.com, Inc. All Rights Reserved.56
» Email: [email protected] [email protected]» Tweet: @CharlesCorr
Recommended Reading: THE PURITAN GIFT, RECLAIMING THE AMERICAN DREAM AMIDST GLOBAL FINANCIAL CHAOS, by Kenneth Hopper and William Hopper
THE STRATEGY AND TACTICS OF PRICING, by T. Nagle, J. Hogan and J. Zale
THANK YOU!