Commercial print service providers (PSPs) are exploring new revenue streams, with promotional products offering a lucrative opportunity. Matt Barnes, executive vice president at the Advertising Specialty Institute (ASI) and ASI Show — the leading technology, marketing and information provider in the $26.6 billion promotional products industry — shares expert insights on how PSPs can successfully integrate promotional products, leverage technology, and stay competitive in this growing market.
Printing Impressions (PI): Where would you suggest a commercial PSP start if they want to break into promotional products?
Matt Barnes: There are 3 basic steps to help any commercial PSP break into promotional products and grow their portfolio of services and revenue.
First, evaluate the customer base along with the current printing services that are delivered by the commercial PSP. For example, if the client is in financial services and it’s the HR manager who provides printed collateral to their new employees, then it’s a definite target to offer promotional products for onboarding new employees.
Second, what is the end-use application of the printing services for each specific client? Are you printing for an event or trade show, a direct mail campaign, business collateral, or whatever service you provide? If you’re assisting with direct mail campaigns then adding mailable promotional products, like magnets, USB drives or pens would be an effective way to improve the campaign and create revenue for the commercial PSP.
Last and most importantly, a PSP has to commit to succeeding in promotional products. As the saying goes, half-in is half-out. Budget for growth and the expenses that go with it. Join an industry organization like the Advertising Specialty Institute. In addition to offering curated education like PRINTING United does, ASI offers technology and product research tools, plus a community of industry professionals to guide you and your business to success.
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