Canon UK, has developed a new measurement tool to help Print Service Providers (PSPs) calculate the return on investment for specific print applications.
The measurement tool was developed in response to the insight report entitled, ‘The Bigger Picture – Your customers’ view of the value of print’, which found that while 87% of organisations across Europe confirmed that print plays an important part in its communications strategy, only one in ten have a formal process for evaluating the effectiveness of the print they commissioned.
Consequently, the company has looked to provide a solution in the form of its new print-centric ROI tool. Canon held a focus group with PSPs, the British Printing Industries Federation (BPIF) and print buyers in order to gain industry input on how to measure the ROI of print. This was combined with the findings from the company’s latest research during development of the solution that could begin to help PSPs demonstrate the value of print to their customers.
Powered by Microsoft Excel, the ROI tool enables PSPs to profile a customer and their planned campaign, setting out clear aims and objectives. PSPs can determine what applications would be best for the customer to use to meet their goals. They can then calculate the potential ROI for the customer on promotions such as direct mail, multi-channel campaigns involving print, transactional and consumer applications.
Andy Harris, European and UK graphic arts customer marketing, professional print solutions, said, ‘We developed this measurement tool as part of an ongoing process to help answer many of the questions raised by print buyers in the latest Canon Insight Report, which looked at their view of the value of print. We wanted to provide our customers a means by which to analyse and measure the effectiveness of print applications in their campaigns.’
Mr Harris explained, ‘We believe this is the first tool of its kind in measuring the ROI of these specific print applications. This is the first step as we are look to collate feedback from the market in order to evolve the tool. We will continue to refine and adapt the tool in response to the requirements of printers and their customers. We are looking to drive the debate on ROI, while in the process provide our customers with a way to demonstrate the effectiveness of print to their customers – ultimately helping them to grow their business.’
