It’s the time of year when you can find many articles about projected business trends for 2015. (Our own heat printing predictions are coming soon!) I ran across an article in Forbes online, by Ian Altman (on Twitter @Growmyrevenue) titled: Top 10 Business Trends That Will Drive Success In 2015. One that caught my attention was #4, where Altman writes:
Divergent Customers – Price vs. Value There are two competing initiatives in the market for 2015. The first one is increased pricing pressure for anything that appears to be a commodity. I’m probably not the only person who has scanned a bar code in a big box store to have Google show me if there is a better price elsewhere. For those selling a perceived commodity, you’ll see more and more pricing pressure eat into your margins. This means you have to do one of two things: 1) Figure out a way to deliver a commodity more efficiently than others in your market; or 2) Develop a strategy to ensure that what you sell is not seen as a commodity. Nearly every business can differentiate itself. The shame is how many unique businesses make mistakes to turn their unique offering into a commodity. Top companies in 2015 will know if they compete on value or price, and avoid the opportunities that are not a fit.
As a custom textile printer, you have already found a way to set yourself apart from competitors. You provide a service and turn a commodity product (blank garments) into something that is no longer seen as a commodity. This is a key differentiating factor that can help you succeed where other retailers might not. Look for our 2015 predictions on the heat printing trends that can help you stay a few steps ahead, coming soon.