If you blew off the World Expo 2012 weekend to go golfing with the boys or spa it with the girls, never fear—as always, we've got your back and we've put together the 4 critical takeaways from the weekend to report back to base with.
First thing you need to know about the Managed Print Summit event—woo-eee was it hot in Vegas. And so were the speakers and educational takeaways.
Here are the 4 critical takeaways from your 'got-your-back' team at LMI Solutions:1. Disruption is GOOD
You'd figure Samsung would put forth a good speaker—and they did, Senior Vice President, Tod Pike. Tod made an astute point that today's consumers are already reconfiguring their devices with money-saving modifications. With just 2% of office print output being produced on “11x17” paper and today’s A4 print devices at 1/4 the price of A4 MFP devices, it becomes clear that there is an excellent opportunity for basic print assessments and Managed Print Services.
2. Leverage your Core Business
While windows of opportunity feel like constantly-moving targets, multiple experts have clearly stated it is critical to success to expand your business in ways that leverage and magnify your company's core competencies. Experts who noted this cited numerous examples, all with the same theme: that if you reach too far too fast, you may harm your business and damage successful relationships that you've spent years cultivating.
Many successful Managed Print providers have been contemplating the expansion of their offering to include things like Managed IT Services. Some have even gone so far as to offer alternate services, like wide-format printing, drinking-water and coffee services. Experts advised us at World Expo that when expanding from your core competencies look for new lines of recurring revenue sources, new ways to increase your share of your customer's wallet, and strengthen your value proposition.
3. Aftermarket Color Toner is on the Rise
Color toner hasn't seen the aftermarket burst that we saw with black toner yet. We emphasize the word “yet”. In fact 93% of the color market is still owned by OEMs. It became apparent at the Managed Print Summit that color toner is ripe for the picking. Ripe because customers have already been introduced to aftermarket products thanks to the black toner revolution. For most it seems obvious now is the time for MPS providers to pounce on color—because according to one speaker, the lions share of the 900,000 printers sold monthly are color-enabled.
The consensus amongst the 'in-the-know' veterans is that the aftermarket color toner market will offer an unfair advantage for early adopters looking to lock down high-margin color pages in their market and lockout competitors focusing solely on black and white.
4. Partner WELL
If there is one demonstrated shortcut to Managed Print success, the hundreds of MPS provider attendees seemed to agree that it is through strategic, carefully-chosen and aligned partnerships. It not only makes a world of difference for you, it matters to your customers as well.
LMI Solutions CEO, Gary Willert, was chosen to appear on an executive panel and his suggestion that “dealers need to talk to their peers about their experiences to make educated decisions about their business” was well-received within 'strong partnerships' talks.
If you're unsure about which companies are leading the industry (wink wink, nudge nudge: partner with them), the expo recognized MPS industry leaders within the newly formed Technology United group, its members include: MWai Intelligence, Print Greener, E Document Sciences, LMI Solutions, Greenhills Software, Newfield IT, ESPEI, Intellinetics, Barrister, and Genius Bytes.
If you're one of the few who missed the expo this year and are reading this thinking--“dang, I missed one heck of an event”--be sure to ink Expo 2013 into your calendar now (July 9-11, 2013 at the Mandalay Bay in Las Vegas).
For our many friends who did attend, thanks a million for visiting our booth and for your support in helping LMI win this year's prestigious Readers Choice Award for “BEST MANAGED PRINT PROGRAM”.
Thanks and see you at World Expo 2013!