written by Tom Chedham
In today’s rapidly evolving business landscape, adaptability is the key to survival. For Managed Print Providers (MPPs), the traditional realm of printing services has undergone a significant transformation.
As the world becomes increasingly digital, MPPs are presented with a golden opportunity to diversify their offerings and tap into a new stream of revenue. This paradigm shift involves selling digital services, a strategic move that can pave the way for enhanced monthly recurring revenue and long-term business success.
1. Diversification in a Digital Age
Print is no longer the sole medium for communication and documentation. Digitalization has taken over, and businesses are seeking comprehensive solutions that seamlessly integrate both digital and print aspects. Managed Print Providers, with their expertise in managing document workflows, are uniquely positioned to offer digital services that complement their traditional offerings.
2. Meeting Evolving Customer Demands
Modern businesses are looking for holistic solutions that optimize their processes, reduce costs, and enhance productivity. By venturing into digital services, MPPs can meet the evolving demands of their customers. From document management systems and cloud-based solutions to electronic
signatures and workflow automation, offering digital services expands the scope of assistance that MPPs can provide to their clients.
3. Building Stronger Client Relationships
Selling digital services is not just about adding to the bottom line; it’s about building stronger, more enduring client relationships. By being a one-stop shop for both print and digital solutions, MPPs position themselves as trusted advisors who understand their clients’ multifaceted needs. This fosters loyalty and establishes a more profound connection beyond transactional interactions.
4. Tapping into Recurring Revenue Streams
One of the most compelling reasons for MPPs to venture into digital services is the potential for increased monthly recurring revenue. While traditional print services might have irregular consumption patterns, digital services often involve subscription models or usage-based pricing. This steadies cash flow and provides a more predictable revenue stream, which is essential for sustainable growth and planning.
5. Competitive Edge and Futureproofing
The business landscape is fiercely competitive, and MPPs need to stay ahead of the curve to remain relevant. Embracing digital services not only allows MPPs to differentiate themselves in a crowded market but also future proofs their business against technological disruptions. Those who fail to adapt risk being left behind as the digital revolution continues to unfold.
6. Capitalizing on Technology Convergence
The convergence of print and digital technologies is evident. For instance, multifunction printers now come equipped with scanning and cloud integration capabilities. MPPs can leverage this convergence by offering services that bridge the gap between physical and digital document management, enhancing the overall customer experience.
7. Educational and Upselling Opportunities
As MPPs introduce their clients to digital services, they also open the door to educational and upselling opportunities. They can educate clients about the benefits of digital transformation, helping them realize how integrating digital solutions can streamline their operations and drive efficiency. This, in turn, can lead to upselling more advanced digital services tailored to the clients’ needs.
8. Staying Relevant in a Changing Landscape
The COVID-19 pandemic has accelerated the shift toward remote work and digital collaboration. MPPs that adapt to these changes and offer solutions that cater to remote teams and virtual workflows position themselves as indispensable partners for businesses navigating this new terrain.
In conclusion, the era of selling only traditional print services is fading, and Managed Print Providers must embrace the digital revolution to secure their future. By diversifying their offerings to include digital services, MPPs can meet evolving customer demands, build stronger relationships, tap into recurring revenue streams, and stay competitive in an ever-changing landscape. The path forward is clear: to thrive, MPPs must not only print the present but also digitally paint the future.